Fifth Third Bancorp Grows Stake in Victory Capital Holdings, Inc. $VCTR

Key Points

• Fifth Third Bancorp significantly increased its stake in Victory Capital, boosting holdings by 1,586.1% in the first quarter to 22,661 shares worth about $1.48 million.
• Victory Capital reported strong quarterly results, with EPS of $1.82 beating expectations and revenue of $387.99 million, up 76.7% from a year earlier.
• The company also raised its quarterly dividend to $0.50 per share, while analysts have a Moderate Buy consensus rating and an average target price of $89.14.

Fifth Third Bancorp boosted its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 1,586.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,661 shares of the company's stock after purchasing an additional 21,317 shares during the quarter. Fifth Third Bancorp's holdings in Victory Capital were worth $1,484,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Victory Capital by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company's stock worth $1,416,000 after acquiring an additional 1,060 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Victory Capital by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company's stock valued at $21,199,000 after acquiring an additional 5,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Victory Capital by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company's stock worth $5,688,000 after purchasing an additional 9,319 shares in the last quarter. Jane Street Group LLC purchased a new stake in Victory Capital in the 1st quarter worth $3,747,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Victory Capital by 18.8% during the 1st quarter. Intech Investment Management LLC now owns 20,442 shares of the company's stock valued at $1,183,000 after purchasing an additional 3,237 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Trading Up 0.5%

VCTR opened at $96.49 on Friday. The firm has a market cap of $6.03 billion, a P/E ratio of 21.73, a P/E/G ratio of 1.12 and a beta of 1.09. Victory Capital Holdings, Inc. has a 12 month low of $57.03 and a 12 month high of $102.05. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $88.37 and a 200 day moving average of $77.38.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.19. The business had revenue of $387.99 million for the quarter, compared to the consensus estimate of $364.97 million. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The company's quarterly revenue was up 76.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, research analysts forecast that Victory Capital Holdings, Inc. will post 7.38 EPS for the current year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. This is an increase from Victory Capital's previous quarterly dividend of $0.49. Victory Capital's dividend payout ratio is presently 45.05%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VCTR. Zacks Research upgraded Victory Capital from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Royal Bank Of Canada raised their price target on Victory Capital from $95.00 to $107.00 and gave the company an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Victory Capital from $72.00 to $81.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Wall Street Zen raised Victory Capital from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group initiated coverage on Victory Capital in a research report on Tuesday, June 2nd. They set a "neutral" rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $89.14.

Victory Capital Company Profile

Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.

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