Clark Capital Management Group Inc. Acquires 23,297 Shares of Victory Capital Holdings, Inc. $VCTR

Key Points

• Clark Capital Management Group Inc. increased its holdings in Victory Capital Holdings by 18.0%, owning approximately 152,628 shares valued at $8.83 million.
• Victory Capital recently reported $1.57 earnings per share for the quarter, surpassing analysts' expectations and marking a 59.9% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.49 per share, providing a dividend yield of 2.7%, signifying a solid commitment to returning capital to shareholders.

Clark Capital Management Group Inc. raised its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 18.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,628 shares of the company's stock after purchasing an additional 23,297 shares during the period. Clark Capital Management Group Inc. owned approximately 0.24% of Victory Capital worth $8,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Victory Capital by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,570 shares of the company's stock worth $997,000 after acquiring an additional 5,807 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Victory Capital by 3.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 128,061 shares of the company's stock worth $7,411,000 after acquiring an additional 4,377 shares during the period. SG Americas Securities LLC bought a new position in Victory Capital in the 1st quarter valued at approximately $657,000. KBC Group NV bought a new position in Victory Capital in the 1st quarter valued at approximately $131,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Victory Capital by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,553 shares of the company's stock valued at $29,604,000 after purchasing an additional 19,508 shares during the last quarter. Institutional investors own 87.71% of the company's stock.

Victory Capital Trading Up 0.7%

Victory Capital stock traded up $0.48 during mid-day trading on Wednesday, reaching $71.15. 267,611 shares of the company traded hands, compared to its average volume of 436,827. Victory Capital Holdings, Inc. has a 52-week low of $47.00 and a 52-week high of $73.42. The firm's 50 day moving average price is $69.20 and its 200 day moving average price is $63.21. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.76 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.37 and a quick ratio of 1.37.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. The business had revenue of $351.21 million for the quarter, compared to analysts' expectations of $348.89 million. Victory Capital had a net margin of 27.18% and a return on equity of 26.46%. The business's revenue for the quarter was up 59.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. On average, analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.8%. Victory Capital's dividend payout ratio (DPR) is 48.40%.

Analysts Set New Price Targets

A number of equities research analysts have commented on VCTR shares. Royal Bank Of Canada raised their price target on shares of Victory Capital from $72.00 to $75.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. B. Riley boosted their price objective on shares of Victory Capital from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Barclays boosted their price objective on shares of Victory Capital from $62.00 to $68.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Wall Street Zen lowered shares of Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Morgan Stanley boosted their price objective on shares of Victory Capital from $66.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $73.22.

Victory Capital 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.