Argent Capital Management LLC Increases Position in Victory Capital Holdings, Inc. $VCTR

Key Points

• Argent Capital Management increased its Victory Capital stake by 52.1% in the first quarter, holding 179,683 shares valued at approximately $11.8 million. Institutional investors collectively own 87.71% of VCTR’s outstanding stock.
• Victory Capital reported quarterly earnings of $1.82 per share, beating estimates of $1.63, while revenue rose 76.7% year over year to $388.0 million. The company also raised its quarterly dividend to $0.50 per share, representing a 2.0% annual yield.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a consensus price target of $90.00, although shares recently opened at $99.03 after gaining 0.6% and trading near their 52-week high.

Argent Capital Management LLC boosted its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 52.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,683 shares of the company's stock after purchasing an additional 61,583 shares during the quarter. Argent Capital Management LLC owned approximately 0.29% of Victory Capital worth $11,766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VCTR. McIlrath & Eck LLC lifted its position in shares of Victory Capital by 22.4% during the 1st quarter. McIlrath & Eck LLC now owns 3,369 shares of the company's stock valued at $221,000 after buying an additional 616 shares in the last quarter. Bank of America Corp DE lifted its holdings in Victory Capital by 12.4% during the first quarter. Bank of America Corp DE now owns 1,007,405 shares of the company's stock valued at $65,965,000 after purchasing an additional 111,063 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Victory Capital by 203.5% during the first quarter. Janus Henderson Group PLC now owns 58,127 shares of the company's stock valued at $3,805,000 after purchasing an additional 38,977 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Victory Capital by 28.9% in the first quarter. California State Teachers Retirement System now owns 52,699 shares of the company's stock valued at $3,451,000 after purchasing an additional 11,811 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Victory Capital by 26.8% in the first quarter. Royal Bank of Canada now owns 182,050 shares of the company's stock valued at $11,920,000 after purchasing an additional 38,511 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Stock Up 0.6%

Shares of NASDAQ VCTR opened at $99.03 on Friday. The company has a market capitalization of $6.19 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50 day simple moving average of $90.01 and a 200-day simple moving average of $78.63. Victory Capital Holdings, Inc. has a 1 year low of $57.03 and a 1 year high of $102.05.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The company had revenue of $387.99 million during the quarter, compared to analyst estimates of $364.97 million. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The firm's revenue for the quarter was up 76.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. On average, equities research analysts predict that Victory Capital Holdings, Inc. will post 7.38 earnings per share for the current year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were given a dividend of $0.50 per share. This is a boost from Victory Capital's previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, June 10th. Victory Capital's dividend payout ratio (DPR) is 45.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on VCTR shares. Zacks Research upgraded Victory Capital from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Royal Bank Of Canada boosted their price target on Victory Capital from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Barclays increased their price objective on Victory Capital from $85.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their target price on shares of Victory Capital from $72.00 to $81.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Finally, Morgan Stanley set a $91.00 target price on shares of Victory Capital in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.00.

Victory Capital Company Profile

Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.

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