BNP Paribas Financial Markets Trims Stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

BNP Paribas Financial Markets cut its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 70.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,509 shares of the company's stock after selling 15,731 shares during the quarter. BNP Paribas Financial Markets' holdings in Victory Capital were worth $426,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in VCTR. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Victory Capital during the fourth quarter valued at $17,755,000. TimesSquare Capital Management LLC lifted its stake in Victory Capital by 20.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 976,161 shares of the company's stock worth $63,899,000 after purchasing an additional 166,265 shares during the last quarter. Bahl & Gaynor Inc. lifted its stake in Victory Capital by 10.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,557,425 shares of the company's stock worth $101,949,000 after purchasing an additional 153,459 shares during the last quarter. Royce & Associates LP lifted its stake in Victory Capital by 99.1% during the fourth quarter. Royce & Associates LP now owns 278,683 shares of the company's stock worth $18,243,000 after purchasing an additional 138,700 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Victory Capital by 966.9% during the fourth quarter. Voya Investment Management LLC now owns 141,799 shares of the company's stock worth $9,282,000 after purchasing an additional 128,508 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VCTR has been the subject of several research analyst reports. B. Riley lifted their price target 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 dropped their price target on Victory Capital from $89.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price target on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. BMO Capital Markets boosted their target price on Victory Capital from $73.00 to $82.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Finally, UBS Group lowered their target price on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.56.

Victory Capital Trading Up 0.5%

NASDAQ:VCTR traded up $0.31 during mid-day trading on Thursday, reaching $62.59. 77,376 shares of the company's stock traded hands, compared to its average volume of 350,310. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.55 and a beta of 1.05. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19. The company has a 50 day moving average price of $58.73 and a 200-day moving average price of $62.80.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. The business had revenue of $219.60 million for the quarter, compared to analysts' expectations of $226.38 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm's revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts predict that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Tuesday, June 10th. This is an increase from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's payout ratio is currently 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.