Millennium Management LLC Boosts Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

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

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in Victory Capital by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 52,830 shares of the company's stock worth $3,458,000 after acquiring an additional 5,204 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Victory Capital by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 492,045 shares of the company's stock worth $32,209,000 after purchasing an additional 37,715 shares during the period. Barclays PLC lifted its holdings in shares of Victory Capital by 110.6% during the third quarter. Barclays PLC now owns 99,367 shares of the company's stock worth $5,506,000 after purchasing an additional 52,191 shares during the period. PNC Financial Services Group Inc. grew its position in Victory Capital by 650.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,948 shares of the company's stock valued at $586,000 after buying an additional 7,756 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Victory Capital by 30.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 32,842 shares of the company's stock valued at $2,150,000 after buying an additional 7,712 shares during the period. Hedge funds and other institutional investors own 87.71% of the company's stock.

Victory Capital Trading Down 1.8%

Victory Capital stock traded down $1.20 during trading on Monday, hitting $63.74. The company's stock had a trading volume of 369,049 shares, compared to its average volume of 346,982. The stock's fifty day moving average is $59.11 and its 200 day moving average is $62.62. Victory Capital Holdings, Inc. has a 1-year low of $43.82 and a 1-year high of $73.42. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.55 and a beta of 1.04. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19.

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

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders 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 is a boost from Victory Capital's previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a dividend yield of 3.07%. Victory Capital's payout ratio is currently 43.65%.

Analyst Ratings Changes

VCTR has been the topic of several analyst reports. Barclays lifted their target price on shares of Victory Capital from $59.00 to $62.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Royal Bank of Canada lifted their price objective on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Bank of America cut their target price on Victory Capital from $89.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.56.

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.