Granahan Investment Management LLC Cuts Holdings in Victory Capital Holdings, Inc. $VCTR

Key Points

• Granahan Investment Management LLC reduced its holdings in Victory Capital Holdings, Inc. (NASDAQ: VCTR) by 7.5%, now owning approximately 1.05 million shares, which accounts for about 3% of its investment portfolio.
• Victory Capital reported strong earnings results, with an EPS of $1.57 for the latest quarter, surpassing estimates and reflecting a 59.9% revenue increase year-over-year, reaching $351.21 million.
• The company declared a quarterly dividend of $0.49 per share, representing an annualized yield of 2.8%, which will be paid on September 25th to shareholders of record on September 10th.

Granahan Investment Management LLC lowered its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,047,949 shares of the company's stock after selling 85,048 shares during the period. Victory Capital comprises about 3.0% of Granahan Investment Management LLC's investment portfolio, making the stock its 5th biggest holding. Granahan Investment Management LLC owned about 1.65% of Victory Capital worth $60,645,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of VCTR. Allspring Global Investments Holdings LLC increased its stake in shares of Victory Capital by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,570 shares of the company's stock valued at $997,000 after purchasing an additional 5,807 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Victory Capital by 3.5% in the first quarter. Envestnet Asset Management Inc. now owns 128,061 shares of the company's stock valued at $7,411,000 after acquiring an additional 4,377 shares in the last quarter. SG Americas Securities LLC bought a new stake in Victory Capital during the first quarter worth approximately $657,000. KBC Group NV bought a new position in Victory Capital during the 1st quarter valued at $131,000. Finally, Charles Schwab Investment Management Inc. increased its position 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 valued at $29,604,000 after purchasing an additional 19,508 shares during the period. Institutional investors own 87.71% of the company's stock.

Victory Capital Price Performance

Shares of VCTR opened at $70.58 on Thursday. 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 firm has a market cap of $4.71 billion, a PE ratio of 17.43, a PEG ratio of 0.76 and a beta of 1.10. Victory Capital Holdings, Inc. has a twelve month low of $47.00 and a twelve month high of $73.42. The firm's 50 day moving average price is $68.58 and its 200 day moving average price is $63.13.

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

Victory Capital Dividend Announcement

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

Analysts Set New Price Targets

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

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.

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