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

A number of other institutional investors and hedge funds have also recently modified their holdings of VCTR. Vanguard Group Inc. increased its stake in Victory Capital by 2.0% during the 4th 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 in the last quarter. Capital World Investors increased its stake in Victory Capital by 0.4% during the 4th quarter. Capital World Investors now owns 3,231,009 shares of the company's stock valued at $211,502,000 after purchasing an additional 11,654 shares in the last quarter. Franklin Resources Inc. increased its stake in Victory Capital by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 2,011,963 shares of the company's stock valued at $131,703,000 after purchasing an additional 31,944 shares in the last quarter. Bank of America Corp DE increased its stake in Victory Capital by 46.8% during the 4th quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock valued at $94,159,000 after purchasing an additional 458,534 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Victory Capital by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,425,568 shares of the company's stock valued at $93,320,000 after purchasing an additional 33,090 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Barclays upped their price objective on shares of Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price objective on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. B. Riley upped their price objective on shares of Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Bank of America dropped their price objective on shares of Victory Capital from $89.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $72.22.

Victory Capital Stock Performance

NASDAQ VCTR traded down $2.11 during mid-day trading on Friday, reaching $66.80. 776,676 shares of the stock were exchanged, compared to its average volume of 940,736. The business's 50 day moving average is $64.83 and its 200-day moving average is $62.50. Victory Capital Holdings, Inc. has a 1 year low of $43.82 and a 1 year high of $73.42. The company has a market capitalization of $4.49 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.09 and a current ratio of 1.09.

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

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.9%. This is a boost from Victory Capital's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Tuesday, June 10th. Victory Capital's payout ratio is currently 43.65%.

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.