Alps Advisors Inc. Sells 25,723 Shares of Victory Capital Holdings, Inc. $VCTR

Key Points

• Alps Advisors cut its Victory Capital stake by 37.8%, selling 25,723 shares in the third quarter; it held 42,345 shares valued at about $4.68 million at quarter-end.
• Victory Capital’s quarterly results came in slightly below expectations: EPS was $1.98 versus $1.99 forecast, while revenue of $396.6 million missed the $411.2 million consensus.
• Analysts’ consensus rating is Hold, with a $119.50 average target price. The company also declared a quarterly dividend of $0.50 per share, equivalent to a 1.7% yield.

Alps Advisors Inc. cut its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 37.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,345 shares of the company's stock after selling 25,723 shares during the quarter. Alps Advisors Inc. owned 0.07% of Victory Capital worth $4,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Victory Capital by 14.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company's stock worth $114,163,000 after acquiring an additional 221,471 shares during the period. Granahan Investment Management LLC lifted its holdings in shares of Victory Capital by 1.1% in the first quarter. Granahan Investment Management LLC now owns 1,087,315 shares of the company's stock worth $71,197,000 after buying an additional 12,113 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Victory Capital by 12.4% in the first quarter. Bank of America Corp DE now owns 1,007,405 shares of the company's stock worth $65,965,000 after buying an additional 111,063 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Victory Capital in the 2nd quarter worth approximately $42,035,000. Finally, Royal Bank of Canada boosted its stake in Victory Capital by 26.8% during the first quarter. Royal Bank of Canada now owns 182,050 shares of the company's stock valued at $11,920,000 after buying an additional 38,511 shares during the period. Hedge funds and other institutional investors own 87.71% of the company's stock.

Wall Street Analyst Weigh In

VCTR has been the subject of several research analyst reports. Zacks Research lowered shares of Victory Capital from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. UBS Group set a $117.00 target price on Victory Capital in a report on Friday, August 28th. Wall Street Zen lowered shares of Victory Capital from a "buy" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group lifted their price objective on Victory Capital from $100.00 to $117.00 and gave the stock a "neutral" rating in a research report on Thursday, August 27th. Finally, Morgan Stanley boosted their target price on Victory Capital from $115.00 to $119.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Victory Capital has a consensus rating of "Hold" and a consensus target price of $119.50.

Victory Capital Price Performance

VCTR opened at $119.24 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 0.55 and a beta of 1.12. The stock has a fifty day simple moving average of $110.79 and a two-hundred day simple moving average of $90.33. Victory Capital Holdings, Inc. has a 12-month low of $57.03 and a 12-month high of $123.55.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $1.98 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.01). The business had revenue of $396.57 million for the quarter, compared to the consensus estimate of $411.23 million. Victory Capital had a return on equity of 24.37% and a net margin of 28.58%. Research analysts predict that Victory Capital Holdings, Inc. will post 7.78 earnings per share for the current fiscal year.

Victory Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Thursday, December 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.7%. Victory Capital's dividend payout ratio (DPR) is presently 36.76%.

Victory Capital Company Profile

Victory Capital Holdings, Inc is an investment management firm that provides services to institutional investors, financial intermediaries and individual investors. Its offerings include mutual funds, exchange-traded funds, separately managed accounts and other investment strategies across a range of asset classes.

Founded in 2013 and headquartered in San Antonio, Texas, the company operates through a group of investment franchises with distinct investment approaches. Victory Capital serves clients in the United States and internationally.

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