Granahan Investment Management LLC Trims Stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Granahan Investment Management LLC lessened its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,132,997 shares of the company’s stock after selling 16,510 shares during the quarter. Victory Capital accounts for 3.1% of Granahan Investment Management LLC’s investment portfolio, making the stock its 2nd biggest position. Granahan Investment Management LLC owned 1.74% of Victory Capital worth $74,166,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of Victory Capital by 46.8% during the fourth quarter. Bank of America Corp DE now owns 1,438,413 shares of the company’s stock worth $94,159,000 after purchasing an additional 458,534 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Victory Capital in the 4th quarter worth approximately $17,755,000. TimesSquare Capital Management LLC grew its position in shares of Victory Capital by 20.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 976,161 shares of the company’s stock worth $63,899,000 after buying an additional 166,265 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Victory Capital by 10.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,557,425 shares of the company’s stock valued at $101,949,000 after buying an additional 153,459 shares during the period. Finally, Annex Advisory Services LLC raised its holdings in shares of Victory Capital by 599.7% during the fourth quarter. Annex Advisory Services LLC now owns 173,562 shares of the company’s stock valued at $11,361,000 after acquiring an additional 148,756 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Victory Capital from $75.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. UBS Group reduced their price target on shares of Victory Capital from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets raised their price objective on shares of Victory Capital from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Bank of America reduced their target price on Victory Capital from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.33.

Victory Capital Stock Down 1.5 %

Shares of NASDAQ:VCTR opened at $59.14 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $57.57 and a two-hundred day simple moving average of $62.63. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.55 and a beta of 1.05.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. The company had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $226.38 million. During the same period in the prior year, the firm earned $1.25 EPS. Victory Capital’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.49 per share. This is a boost from Victory Capital’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.31%. Victory Capital’s dividend payout ratio is presently 43.02%.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.