KLP Kapitalforvaltning AS Cuts Stock Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Key Points

• KLP Kapitalforvaltning AS has significantly reduced its stake in Victory Capital Holdings, Inc., decreasing its holdings by 53.9% to 8,200 shares, worth approximately $475,000 at the end of the last quarter.
• Victory Capital recently announced a quarterly dividend of $0.49, reflecting an increase from its previous dividend of $0.47, with a current annualized yield of 2.81%.
• Analysts have mixed views on Victory Capital, with price targets ranging from $62.00 to $75.00, and an overall consensus rating of "Moderate Buy."

KLP Kapitalforvaltning AS trimmed its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 53.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,200 shares of the company's stock after selling 9,600 shares during the period. KLP Kapitalforvaltning AS's holdings in Victory Capital were worth $475,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of VCTR. PFG Advisors raised its stake in Victory Capital by 36.1% during the first quarter. PFG Advisors now owns 7,721 shares of the company's stock valued at $447,000 after purchasing an additional 2,048 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Victory Capital during the first quarter valued at $646,000. Victory Capital Management Inc. raised its stake in Victory Capital by 491.4% during the first quarter. Victory Capital Management Inc. now owns 54,317 shares of the company's stock valued at $3,143,000 after purchasing an additional 45,133 shares in the last quarter. Alps Advisors Inc. raised its stake in Victory Capital by 12.0% during the first quarter. Alps Advisors Inc. now owns 158,292 shares of the company's stock valued at $9,160,000 after purchasing an additional 16,991 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in Victory Capital by 17.8% during the first quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock valued at $126,000 after purchasing an additional 329 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Stock Up 2.4%

NASDAQ VCTR traded up $1.63 during trading on Monday, reaching $68.43. 199,596 shares of the company's stock traded hands, compared to its average volume of 406,352. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04. The company's 50 day simple moving average is $64.83 and its two-hundred day simple moving average is $62.46. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42.

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

Victory Capital Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. B. Riley increased their target price on shares of Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen downgraded shares of Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays increased their target price on shares of Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, UBS Group reduced their target price on shares of Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $72.22.

Victory Capital 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.