Clark Capital Management Group Inc. Boosts Stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Clark Capital Management Group Inc. raised its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 103.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,331 shares of the company's stock after purchasing an additional 65,635 shares during the quarter. Clark Capital Management Group Inc. owned 0.20% of Victory Capital worth $8,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in shares of Victory Capital by 3,207.1% during the fourth quarter. Covestor Ltd now owns 463 shares of the company's stock worth $30,000 after acquiring an additional 449 shares during the period. Principal Securities Inc. grew its holdings in shares of Victory Capital by 35.2% during the fourth quarter. Principal Securities Inc. now owns 603 shares of the company's stock worth $39,000 after purchasing an additional 157 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Victory Capital during the fourth quarter worth approximately $43,000. Convergence Investment Partners LLC purchased a new position in shares of Victory Capital during the fourth quarter worth about $193,000. Finally, FourThought Financial Partners LLC purchased a new position in shares of Victory Capital during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Analysts Set New Price Targets

VCTR has been the topic of a number of research reports. BMO Capital Markets raised their price target on 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 lowered their price objective on Victory Capital from $89.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Barclays lowered their price objective on Victory Capital from $75.00 to $59.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. UBS Group reduced their target price on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.33.

Victory Capital Price Performance

Shares of VCTR stock traded down $0.93 during midday trading on Friday, reaching $59.14. 348,125 shares of the company traded hands, compared to its average volume of 355,546. The firm's 50 day simple moving average is $57.57 and its two-hundred day simple moving average is $62.69. Victory Capital Holdings, Inc. has a 1-year low of $43.82 and a 1-year high of $73.42. 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 price-to-earnings-growth ratio of 0.55 and a beta of 1.05.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. The company had revenue of $219.60 million for the quarter, compared to analyst estimates of $226.38 million. During the same quarter in the previous year, the business posted $1.25 earnings per share. Victory Capital's revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS 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. Shareholders of record on Tuesday, June 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This is an increase from Victory Capital's previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 3.31%. Victory Capital's payout ratio is 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.