Laurus Global Equity Management Inc. Makes New Investment in Victory Capital Holdings, Inc. $VCTR

Key Points

• Laurus Global Equity Management Inc. has acquired a new stake in Victory Capital Holdings, purchasing 19,350 shares worth approximately $1.23 million, marking it as the 28th largest holding in their portfolio.
• Victory Capital reported a quarterly earnings per share (EPS) of $1.57, exceeding analyst expectations by $0.10, with revenues reaching $351.21 million, a 59.9% increase compared to the same quarter last year.
• The company declared a quarterly dividend of $0.49 per share, representing an annualized yield of 3.0% and a payout ratio of 48.40%.

Laurus Global Equity Management Inc. acquired a new stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 19,350 shares of the company's stock, valued at approximately $1,232,000. Victory Capital makes up about 0.8% of Laurus Global Equity Management Inc.'s holdings, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in VCTR. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Victory Capital by 13.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,008 shares of the company's stock valued at $446,000 after purchasing an additional 812 shares during the last quarter. Vicus Capital bought a new position in Victory Capital during the 2nd quarter valued at $279,000. Kendall Capital Management grew its stake in shares of Victory Capital by 2.9% in the 2nd quarter. Kendall Capital Management now owns 90,189 shares of the company's stock worth $5,742,000 after acquiring an additional 2,500 shares in the last quarter. Maseco LLP purchased a new stake in shares of Victory Capital in the second quarter valued at about $30,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Victory Capital during the second quarter worth about $734,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Trading Up 2.1%

Shares of VCTR opened at $65.38 on Monday. Victory Capital Holdings, Inc. has a 1-year low of $47.00 and a 1-year high of $73.42. The company has a market capitalization of $4.37 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.67 and a beta of 1.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.37 and a quick ratio of 1.37. The firm's 50 day simple moving average is $69.14 and its 200 day simple moving average is $64.08.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.10. The firm had revenue of $351.21 million for the quarter, compared to analyst estimates of $348.89 million. Victory Capital had a net margin of 27.18% and a return on equity of 26.46%. The business's revenue for the quarter was up 59.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 EPS. Sell-side analysts forecast that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were given a dividend of $0.49 per share. The ex-dividend date was Wednesday, September 10th. This represents a $1.96 dividend on an annualized basis and a yield of 3.0%. Victory Capital's dividend payout ratio (DPR) is presently 48.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Victory Capital in a research report on Saturday, September 27th. B. Riley increased their price target on shares of Victory Capital from $74.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, August 22nd. The Goldman Sachs Group restated a "buy" rating and set a $76.00 price objective on shares of Victory Capital in a report on Tuesday, September 23rd. Bank of America boosted their target price on shares of Victory Capital from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Morgan Stanley upped their price objective on Victory Capital from $66.00 to $67.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $73.78.

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.

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