Envestnet Asset Management Inc. Sells 9,104 Shares of Victory Capital Holdings, Inc. $VCTR

Envestnet Asset Management Inc. cut its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,211 shares of the company’s stock after selling 9,104 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Victory Capital worth $6,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of VCTR. Amundi acquired a new position in shares of Victory Capital during the second quarter valued at about $213,219,000. Geode Capital Management LLC raised its holdings in Victory Capital by 26.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,359,120 shares of the company’s stock valued at $86,545,000 after acquiring an additional 285,137 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Victory Capital by 8,812.2% in the 3rd quarter. Principal Financial Group Inc. now owns 280,646 shares of the company’s stock worth $18,175,000 after acquiring an additional 277,497 shares during the period. Basswood Capital Management L.L.C. lifted its position in shares of Victory Capital by 37.9% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 437,409 shares of the company’s stock worth $27,850,000 after acquiring an additional 120,140 shares during the period. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Victory Capital during the 2nd quarter worth approximately $6,592,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on VCTR shares. Morgan Stanley reduced their target price on Victory Capital from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Victory Capital from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Zacks Research cut shares of Victory Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Finally, Barclays set a $69.00 price target on shares of Victory Capital in a research note on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.38.

Victory Capital Trading Down 0.5%

Shares of Victory Capital stock opened at $75.59 on Friday. Victory Capital Holdings, Inc. has a 12-month low of $47.00 and a 12-month high of $77.78. The stock has a market capitalization of $4.91 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 0.80 and a beta of 1.05. The company has a 50-day simple moving average of $68.49 and a 200 day simple moving average of $67.02. The company has a quick ratio of 1.26, a current ratio of 1.47 and a debt-to-equity ratio of 0.40.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.12. Victory Capital had a net margin of 25.27% and a return on equity of 21.86%. The firm had revenue of $374.12 million for the quarter, compared to analysts’ expectations of $371.09 million. During the same period in the prior year, the firm earned $1.45 earnings per share. The company’s quarterly revenue was up 61.0% compared to the same quarter last year. Research analysts expect that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be given a $0.49 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.96 annualized dividend and a yield of 2.6%. Victory Capital’s payout ratio is presently 48.16%.

About Victory Capital

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.