Millennium Management LLC Buys 7,744 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Millennium Management LLC lifted its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 107.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,973 shares of the company's stock after buying an additional 7,744 shares during the quarter. Millennium Management LLC's holdings in Victory Capital were worth $980,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in VCTR. Vanguard Group Inc. grew its position in Victory Capital by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,966,221 shares of the company's stock worth $259,629,000 after acquiring an additional 79,240 shares in the last quarter. Capital World Investors increased its position in Victory Capital by 0.4% during the fourth quarter. Capital World Investors now owns 3,231,009 shares of the company's stock worth $211,502,000 after buying an additional 11,654 shares during the last quarter. Franklin Resources Inc. raised its holdings in Victory Capital by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 2,011,963 shares of the company's stock valued at $131,703,000 after buying an additional 31,944 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Victory Capital by 10.9% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,557,425 shares of the company's stock worth $101,949,000 after buying an additional 153,459 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Victory Capital by 46.8% in the fourth quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock worth $94,159,000 after buying an additional 458,534 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Stock Performance

Shares of Victory Capital stock traded up $1.71 during midday trading on Friday, hitting $64.94. The company had a trading volume of 271,691 shares, compared to its average volume of 346,757. Victory Capital Holdings, Inc. has a 1-year low of $43.82 and a 1-year high of $73.42. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19. The business's 50 day simple moving average is $59.11 and its two-hundred day simple moving average is $62.68. The stock has a market cap of $4.37 billion, a PE ratio of 14.86, a P/E/G ratio of 0.55 and a beta of 1.05.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $226.38 million. During the same quarter in the prior year, the firm earned $1.25 EPS. The firm's quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts predict that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.96 dividend on an annualized basis and a yield of 3.02%. This is an increase from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's payout ratio is currently 43.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VCTR. B. Riley raised their price objective on Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Barclays increased their price target on Victory Capital from $59.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen downgraded Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered their price target on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Royal Bank of Canada increased their price target on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Victory Capital currently has an average rating of "Moderate Buy" and an average price target of $71.56.

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.