Harvest Fund Management Co. Ltd Makes New $414,000 Investment in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Key Points

• Harvest Fund Management Co. Ltd has acquired a new position in Victory Capital Holdings, purchasing 7,163 shares valued at approximately $414,000 during the first quarter.
• Victory Capital recently declared a quarterly dividend of $0.49 per share, representing a 2.81% yield and an increase from the previous dividend of $0.47.
• The company's latest earnings report revealed an EPS of $1.36, which missed the consensus estimate by $0.02, with a revenue of $219.60 million for the quarter.

Harvest Fund Management Co. Ltd purchased a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,163 shares of the company's stock, valued at approximately $414,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. LPL Financial LLC boosted its stake in shares of Victory Capital by 14.2% during the 4th quarter. LPL Financial LLC now owns 21,896 shares of the company's stock valued at $1,433,000 after buying an additional 2,731 shares during the period. Vanguard Group Inc. grew its position in shares of Victory Capital by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,966,221 shares of the company's stock valued at $259,629,000 after purchasing an additional 79,240 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Victory Capital by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,585 shares of the company's stock valued at $366,000 after purchasing an additional 218 shares during the period. Schroder Investment Management Group bought a new stake in shares of Victory Capital in the fourth quarter valued at about $5,605,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Victory Capital by 45.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,696 shares of the company's stock valued at $962,000 after purchasing an additional 4,574 shares in the last quarter. Institutional investors own 87.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on VCTR. JPMorgan Chase & Co. cut their price target on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. B. Riley raised their target price on Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Royal Bank Of Canada upped their price target on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, UBS Group decreased their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.22.

Victory Capital Trading Up 2.5%

Victory Capital stock traded up $1.66 during mid-day trading on Monday, hitting $68.46. 216,830 shares of the stock were exchanged, compared to its average volume of 406,472. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 0.74 and a beta of 1.04. Victory Capital Holdings, Inc. has a 12 month low of $43.82 and a 12 month high of $73.42. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.84. The firm's fifty day simple moving average is $64.83 and its two-hundred day simple moving average is $62.46.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $226.38 million. Victory Capital had a return on equity of 30.28% and a net margin of 32.90%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. Analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a $0.49 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $1.96 dividend on an annualized basis and a yield of 2.9%. This is an increase from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's dividend payout ratio (DPR) is presently 43.65%.

Victory Capital Company 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.