Granahan Investment Management LLC Sells 123,358 Shares of Victory Capital Holdings, Inc. $VCTR

Key Points

• Granahan Investment Management reduced its stake in Victory Capital by 10.3% in the fourth quarter, selling 123,358 shares. The fund still owns 1.075 million shares, making VCTR its 5th-largest holding.
• Victory Capital reported strong quarterly results, with EPS of $1.82 versus the $1.63 estimate and revenue of $387.99 million, up 76.7% from a year earlier. Analysts currently expect full-year EPS of 7.04.
• The company also raised its quarterly dividend to $0.50 per share from $0.49, bringing the annualized payout to $2.00 and a yield of about 2.3%. Meanwhile, Wall Street’s consensus rating remains Hold with an average target price of $84.71.

Granahan Investment Management LLC lowered its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,075,202 shares of the company's stock after selling 123,358 shares during the quarter. Victory Capital accounts for about 2.9% of Granahan Investment Management LLC's portfolio, making the stock its 5th biggest holding. Granahan Investment Management LLC owned 1.66% of Victory Capital worth $67,834,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Core Wealth Advisors LLC acquired a new stake in Victory Capital during the 4th quarter worth $30,000. Covestor Ltd boosted its stake in Victory Capital by 99.7% during the 4th quarter. Covestor Ltd now owns 669 shares of the company's stock worth $42,000 after purchasing an additional 334 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Victory Capital by 48.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 753 shares of the company's stock worth $48,000 after purchasing an additional 246 shares during the last quarter. GAMMA Investing LLC boosted its stake in Victory Capital by 146.4% during the 4th quarter. GAMMA Investing LLC now owns 860 shares of the company's stock worth $54,000 after purchasing an additional 511 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in Victory Capital by 206.0% during the 2nd quarter. Quantbot Technologies LP now owns 1,224 shares of the company's stock worth $78,000 after purchasing an additional 824 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Stock Up 1.6%

NASDAQ VCTR opened at $87.32 on Wednesday. Victory Capital Holdings, Inc. has a 52 week low of $57.03 and a 52 week high of $90.19. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.41. The business's fifty day simple moving average is $80.58 and its 200-day simple moving average is $72.26. The firm has a market cap of $5.46 billion, a PE ratio of 19.67, a P/E/G ratio of 0.92 and a beta of 1.10.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.63 by $0.19. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The business had revenue of $387.99 million for the quarter, compared to analyst estimates of $364.97 million. During the same quarter in the previous year, the firm earned $1.36 EPS. The company's quarterly revenue was up 76.7% compared to the same quarter last year. As a group, equities analysts anticipate that Victory Capital Holdings, Inc. will post 7.04 earnings per share for the current year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. This is a boost from Victory Capital's previous quarterly dividend of $0.49. Victory Capital's payout ratio is presently 45.05%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Victory Capital from $74.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. The Goldman Sachs Group assumed coverage on shares of Victory Capital in a research note on Tuesday, June 2nd. They set a "neutral" rating and a $90.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Victory Capital in a research note on Monday, April 20th. Morgan Stanley set a $76.00 target price on shares of Victory Capital in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Victory Capital from $72.00 to $81.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Victory Capital presently has a consensus rating of "Hold" and a consensus target price of $84.71.

About Victory Capital

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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