Bank of New York Mellon Corp Invests $42.03 Million in Victory Capital Holdings, Inc. $VCTR

Key Points

• Bank of New York Mellon acquired 500,061 Victory Capital shares worth approximately $42.03 million, giving it a 0.80% stake. Institutional investors collectively own 87.71% of VCTR.
• Victory Capital exceeded quarterly expectations, reporting $2.21 in EPS versus the $1.79 consensus estimate and revenue of $435.36 million versus $386.09 million expected.
• The company declared a quarterly dividend of $0.50 per share, or $2.00 annually, representing a 1.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $105.71.

Bank of New York Mellon Corp acquired a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 500,061 shares of the company's stock, valued at approximately $42,035,000. Bank of New York Mellon Corp owned 0.80% of Victory Capital as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VCTR. Caitong International Asset Management Co. Ltd lifted its position in shares of Victory Capital by 19,350.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company's stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in Victory Capital in the fourth quarter valued at $30,000. Covestor Ltd raised its stake in Victory Capital by 99.7% in the fourth quarter. Covestor Ltd now owns 669 shares of the company's stock valued at $42,000 after buying an additional 334 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in Victory Capital in the first quarter valued at $46,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Victory Capital by 48.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 753 shares of the company's stock worth $48,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company's stock.

Victory Capital Trading Down 2.3%

VCTR stock opened at $118.31 on Friday. The business has a fifty day simple moving average of $100.81 and a 200-day simple moving average of $84.88. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.01 and a beta of 1.08. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. Victory Capital Holdings, Inc. has a 52 week low of $57.03 and a 52 week high of $123.55.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $1.79 by $0.42. Victory Capital had a net margin of 29.57% and a return on equity of 24.17%. The firm had revenue of $435.36 million for the quarter, compared to analyst estimates of $386.09 million. On average, equities research analysts expect that Victory Capital Holdings, Inc. will post 7.63 EPS for the current year.

Victory Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Victory Capital's dividend payout ratio is currently 36.76%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on VCTR shares. JPMorgan Chase & Co. boosted their target price on Victory Capital from $87.00 to $101.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Wall Street Zen raised shares of Victory Capital from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. The Goldman Sachs Group boosted their price objective on shares of Victory Capital from $100.00 to $117.00 and gave the stock a "neutral" rating in a research report on Thursday. Morgan Stanley set a $91.00 price target on shares of Victory Capital in a research report on Wednesday, July 29th. Finally, Barclays upped their price objective on shares of Victory Capital from $95.00 to $112.00 and gave the company an "equal weight" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Victory Capital presently has a consensus rating of "Moderate Buy" and an average target price of $105.71.

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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