Bank of America Corp DE Purchases 458,534 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of America Corp DE raised its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 46.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,438,413 shares of the company's stock after purchasing an additional 458,534 shares during the period. Bank of America Corp DE owned 2.21% of Victory Capital worth $94,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Principal Securities Inc. raised its position in shares of Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company's stock valued at $39,000 after acquiring an additional 157 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Victory Capital by 4.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,585 shares of the company's stock valued at $366,000 after acquiring an additional 218 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Victory Capital by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,303 shares of the company's stock valued at $282,000 after acquiring an additional 273 shares during the period. Covestor Ltd raised its position in shares of Victory Capital by 3,207.1% in the 4th quarter. Covestor Ltd now owns 463 shares of the company's stock valued at $30,000 after acquiring an additional 449 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Victory Capital by 11.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,730 shares of the company's stock worth $310,000 after purchasing an additional 495 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada increased their target price on Victory Capital from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group lowered their target price on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. BMO Capital Markets increased their target price on Victory Capital from $73.00 to $82.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Bank of America lowered their target price on Victory Capital from $89.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Barclays increased their target price on Victory Capital from $59.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.56.

Victory Capital Stock Up 0.2%

Shares of VCTR traded up $0.12 during mid-day trading on Friday, hitting $63.93. 227,948 shares of the company's stock were exchanged, compared to its average volume of 354,524. The company has a market cap of $4.07 billion, a PE ratio of 14.63, a P/E/G ratio of 0.55 and a beta of 1.05. Victory Capital Holdings, Inc. has a 52 week low of $43.82 and a 52 week high of $73.42. The company has a 50-day simple moving average of $58.19 and a 200 day simple moving average of $62.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19.

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

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.49 per share. This is a boost from Victory Capital's previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Tuesday, June 10th. Victory Capital's dividend payout ratio (DPR) is currently 43.65%.

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.