Bank of America Corp DE Raises Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of America Corp DE grew its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 46.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,438,413 shares of the company’s stock after acquiring an additional 458,534 shares during the period. Bank of America Corp DE owned about 2.21% of Victory Capital worth $94,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its stake in shares of Victory Capital by 3,207.1% in the fourth quarter. Covestor Ltd now owns 463 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares during the period. Principal Securities Inc. lifted its stake in shares of Victory Capital by 35.2% in the fourth quarter. Principal Securities Inc. now owns 603 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Victory Capital in the fourth quarter valued at about $43,000. Convergence Investment Partners LLC acquired a new stake in shares of Victory Capital in the fourth quarter valued at about $193,000. Finally, FourThought Financial Partners LLC acquired a new stake in shares of Victory Capital in the fourth quarter valued at about $211,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Stock Performance

NASDAQ:VCTR opened at $59.14 on Monday. The firm has a 50 day simple moving average of $57.57 and a 200-day simple moving average of $62.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $3.76 billion, a PE ratio of 13.53, a P/E/G ratio of 0.55 and a beta of 1.05. Victory Capital Holdings, Inc. has a 1-year low of $43.82 and a 1-year high of $73.42.

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

Victory Capital Increases Dividend

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

Analyst Ratings Changes

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

Victory Capital 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.