Bank of New York Mellon Corp Cuts Stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of New York Mellon Corp reduced its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422,993 shares of the company's stock after selling 13,082 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Victory Capital worth $24,479,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Bank of America Corp DE grew its position in shares of Victory Capital by 46.8% in the 4th quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock worth $94,159,000 after buying an additional 458,534 shares during the last quarter. Annex Advisory Services LLC boosted its position in shares of Victory Capital by 127.7% during the first quarter. Annex Advisory Services LLC now owns 395,252 shares of the company's stock valued at $22,873,000 after purchasing an additional 221,690 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Victory Capital by 966.9% during the fourth quarter. Voya Investment Management LLC now owns 141,799 shares of the company's stock valued at $9,282,000 after purchasing an additional 128,508 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Victory Capital by 940.7% during the fourth quarter. Lazard Asset Management LLC now owns 125,861 shares of the company's stock valued at $8,237,000 after purchasing an additional 113,767 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Victory Capital during the fourth quarter valued at approximately $6,523,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Stock Down 2.7%

Shares of VCTR stock traded down $1.88 during mid-day trading on Monday, hitting $67.00. The company's stock had a trading volume of 937,387 shares, compared to its average volume of 384,392. Victory Capital Holdings, Inc. has a 52-week low of $43.82 and a 52-week high of $73.42. The business has a 50-day moving average price of $63.67 and a 200 day moving average price of $62.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.76 and a beta of 1.03.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The firm had revenue of $219.60 million during the quarter, compared to the consensus estimate of $226.38 million. Victory Capital had a net margin of 32.90% and a return on equity of 30.28%. The firm's revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. Research analysts predict that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were paid a $0.49 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.96 annualized dividend and a dividend yield of 2.93%. This is an increase from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's dividend payout ratio (DPR) is 43.65%.

Analyst Ratings Changes

Several research firms recently weighed in on VCTR. UBS Group dropped their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wall Street Zen downgraded Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada boosted their target price on Victory Capital from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Bank of America dropped their target price on Victory Capital from $89.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Finally, B. Riley boosted their target price on Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.22.

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.