KLP Kapitalforvaltning AS Decreases 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 lessened its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 53.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its holdings in Victory Capital by 3,207.1% in the 4th quarter. Covestor Ltd now owns 463 shares of the company's stock valued at $30,000 after purchasing an additional 449 shares in the last quarter. Versant Capital Management Inc purchased a new position in Victory Capital in the 1st quarter valued at $34,000. Opal Wealth Advisors LLC purchased a new position in Victory Capital in the 1st quarter valued at $37,000. TD Private Client Wealth LLC lifted its holdings in Victory Capital by 17.8% in the 1st 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. Finally, KBC Group NV acquired a new stake in shares of Victory Capital in the 1st quarter worth $131,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Victory Capital Trading Down 3.1%

Victory Capital stock traded down $2.11 during midday trading on Friday, reaching $66.80. 776,676 shares of the stock traded hands, compared to its average volume of 940,736. The company has a 50-day simple moving average of $64.83 and a two-hundred day simple moving average of $62.50. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42. The firm has a market cap of $4.49 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.77 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.84.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced 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 firm 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 business's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 earnings per share. Research analysts expect that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on VCTR shares. Royal Bank Of Canada raised their target price on Victory Capital from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. UBS Group cut their target price on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Barclays raised their price objective on Victory Capital from $62.00 to $68.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen downgraded Victory Capital from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.22.

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.