Allspring Global Investments Holdings LLC Purchases 5,807 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Allspring Global Investments Holdings LLC boosted its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 54.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,570 shares of the company's stock after purchasing an additional 5,807 shares during the period. Allspring Global Investments Holdings LLC's holdings in Victory Capital were worth $997,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Victory Capital by 25.0% in the first quarter. Blue Trust Inc. now owns 3,314 shares of the company's stock valued at $192,000 after buying an additional 663 shares during the last quarter. Ritholtz Wealth Management increased its stake in Victory Capital by 81.4% during the 1st quarter. Ritholtz Wealth Management now owns 12,627 shares of the company's stock worth $731,000 after acquiring an additional 5,667 shares during the period. Opal Wealth Advisors LLC bought a new position in Victory Capital during the 1st quarter worth $37,000. Vista Finance LLC increased its stake in Victory Capital by 7.0% during the 1st quarter. Vista Finance LLC now owns 6,286 shares of the company's stock worth $364,000 after acquiring an additional 410 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its stake in Victory Capital by 37.9% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 36,112 shares of the company's stock worth $2,090,000 after acquiring an additional 9,919 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on VCTR. B. Riley raised their price objective on Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. 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 research note on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Royal Bank Of Canada lifted their price target on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.56.

Victory Capital Price Performance

Shares of NASDAQ VCTR traded down $1.54 during mid-day trading on Friday, hitting $64.70. 230,907 shares of the stock traded hands, compared to its average volume of 337,518. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.09 and a quick ratio of 1.09. Victory Capital Holdings, Inc. has a twelve month low of $43.82 and a twelve month high of $73.42. The company has a market cap of $4.35 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.53 and a beta of 1.03. The firm has a 50 day simple moving average of $62.70 and a two-hundred day simple moving average of $62.08.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $219.60 million for the quarter, compared to analyst estimates of $226.38 million. Victory Capital had a net margin of 32.90% and a return on equity of 30.28%. The company's revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $1.25 EPS. As a group, equities research analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was 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 3.03%. Victory Capital's payout ratio is presently 43.65%.

About Victory Capital

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.