Cynosure Group LLC Invests $331,000 in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Key Points

• Cynosure Group LLC has invested approximately $331,000 in Victory Capital Holdings, acquiring 5,725 shares during the first quarter.
• Several hedge funds, including Charles Schwab Investment Management and Vanguard Group, have also increased their holdings in Victory Capital, with institutional investors owning 87.71% of the stock.
• Victory Capital recently announced a quarterly dividend of $0.49, representing an annualized dividend yield of 2.8%.

Cynosure Group LLC acquired a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,725 shares of the company's stock, valued at approximately $331,000.

Several other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Victory Capital by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,553 shares of the company's stock worth $29,604,000 after acquiring an additional 19,508 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Victory Capital by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company's stock worth $236,994,000 after acquiring an additional 129,055 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Victory Capital by 31.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,196 shares of the company's stock valued at $359,000 after purchasing an additional 1,466 shares during the last quarter. Seizert Capital Partners LLC increased its position in shares of Victory Capital by 69.4% during the 1st quarter. Seizert Capital Partners LLC now owns 59,393 shares of the company's stock valued at $3,437,000 after purchasing an additional 24,339 shares during the last quarter. Finally, Vestcor Inc increased its position in shares of Victory Capital by 136.1% during the 1st quarter. Vestcor Inc now owns 7,831 shares of the company's stock valued at $453,000 after purchasing an additional 4,514 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on VCTR. B. Riley boosted their target price on Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Royal Bank Of Canada boosted their target price on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. UBS Group cut their target price 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. JPMorgan Chase & Co. cut their target price on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays boosted their target price on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.22.

Victory Capital Price Performance

VCTR opened at $70.48 on Monday. The business has a fifty day moving average of $65.52 and a 200 day moving average of $62.54. Victory Capital Holdings, Inc. has a 52-week low of $46.90 and a 52-week high of $73.42. The company has a quick ratio of 1.09, a current ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market cap of $4.74 billion, a P/E ratio of 17.40, a PEG ratio of 0.78 and a beta of 1.04.

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

Victory Capital Dividend Announcement

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

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.

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