Denali Advisors LLC Raises Stock Holdings in Victory Capital Holdings, Inc. $VCTR

Key Points

• Denali Advisors LLC significantly increased its stake in Victory Capital Holdings, Inc. by 494.6%, now owning 105,277 shares valued at approximately $6.7 million.
• Analysts have recently upgraded Victory Capital's rating, with Zacks Research moving it to a "strong-buy", and Bank of America raising the target price from $83 to $84.
• Victory Capital announced a dividend of $0.49 per share, resulting in a 3.0% yield based on the annualized payout ratio of 48.40%.

Denali Advisors LLC increased its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 494.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,277 shares of the company's stock after buying an additional 87,570 shares during the quarter. Denali Advisors LLC owned 0.16% of Victory Capital worth $6,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vista Finance LLC increased its position in Victory Capital by 4.1% during the 2nd quarter. Vista Finance LLC now owns 6,541 shares of the company's stock valued at $416,000 after purchasing an additional 255 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Victory Capital by 7.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,193 shares of the company's stock valued at $243,000 after buying an additional 273 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Victory Capital by 17.8% during the 1st quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock valued at $126,000 after buying an additional 329 shares in the last quarter. FourThought Financial Partners LLC boosted its holdings in shares of Victory Capital by 11.5% during the 1st quarter. FourThought Financial Partners LLC now owns 3,594 shares of the company's stock valued at $208,000 after buying an additional 372 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Victory Capital by 5.8% during the 1st quarter. Comerica Bank now owns 7,559 shares of the company's stock valued at $437,000 after buying an additional 414 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on VCTR shares. Zacks Research upgraded shares of Victory Capital from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 7th. Bank of America boosted their target price on shares of Victory Capital from $83.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Morgan Stanley boosted their target price on shares of Victory Capital from $67.00 to $69.00 and gave the company a "positive" rating in a report on Monday, October 6th. The Goldman Sachs Group reiterated a "buy" rating and issued a $76.00 price target on shares of Victory Capital in a research note on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Victory Capital in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.00.

Victory Capital Price Performance

VCTR opened at $65.07 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $4.35 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.66 and a beta of 1.07. The company's 50-day simple moving average is $68.46 and its two-hundred day simple moving average is $64.69. Victory Capital Holdings, Inc. has a 52-week low of $47.00 and a 52-week high of $73.42.

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. As a group, analysts predict that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.49 per share. The ex-dividend date was Wednesday, September 10th. This represents a $1.96 annualized dividend and a yield of 3.0%. 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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