Granahan Investment Management LLC boosted its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR – Free Report) by 1.1% during the first quarter, HoldingsChannel reports. The fund owned 1,087,315 shares of the company’s stock after purchasing an additional 12,113 shares during the quarter. Victory Capital comprises 3.4% of Granahan Investment Management LLC’s holdings, making the stock its 5th largest position. Granahan Investment Management LLC’s holdings in Victory Capital were worth $71,197,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Victory Capital by 19,350.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 387 shares during the period. Core Wealth Advisors LLC acquired a new position in Victory Capital during the 4th quarter worth about $30,000. Covestor Ltd grew its position in shares of Victory Capital by 99.7% in the 4th quarter. Covestor Ltd now owns 669 shares of the company’s stock valued at $42,000 after buying an additional 334 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Victory Capital in the 1st quarter valued at about $46,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Victory Capital by 48.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock valued at $48,000 after buying an additional 246 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
VCTR has been the topic of several analyst reports. The Goldman Sachs Group started coverage on Victory Capital in a report on Tuesday, June 2nd. They issued a “neutral” rating and a $90.00 target price on the stock. Morgan Stanley upped their price objective on shares of Victory Capital from $76.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Royal Bank Of Canada lifted their target price on shares of Victory Capital from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays upped their price target on shares of Victory Capital from $85.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. Finally, Zacks Research raised Victory Capital from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.14.
Victory Capital Stock Up 0.7%
Victory Capital stock opened at $97.20 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.41. Victory Capital Holdings, Inc. has a 12-month low of $57.03 and a 12-month high of $102.05. The firm’s fifty day moving average is $88.61 and its 200 day moving average is $77.51. The company has a market capitalization of $6.08 billion, a PE ratio of 21.89, a PEG ratio of 1.13 and a beta of 1.09.
Victory Capital (NASDAQ:VCTR – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.19. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The business had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. During the same period last year, the company posted $1.36 earnings per share. The business’s quarterly revenue was up 76.7% on a year-over-year basis. As a group, sell-side analysts predict that Victory Capital Holdings, Inc. will post 7.38 EPS for the current fiscal year.
Victory Capital Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were paid a dividend of $0.50 per share. This is an increase from Victory Capital’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Victory Capital’s dividend payout ratio (DPR) is currently 45.05%.
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.
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