New York State Common Retirement Fund Sells 9,000 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Key Points

• The New York State Common Retirement Fund reduced its stake in Victory Capital Holdings by 35.7%, selling 9,000 shares and holding 16,226 shares valued at $939,000.
• Brokerages have adjusted their ratings and price targets for Victory Capital, with Barclays increasing the target from $62.00 to $68.00 and Royal Bank of Canada raising it from $72.00 to $75.00.
• Victory Capital recently increased its quarterly dividend from $0.47 to $0.49 per share, reflecting a dividend yield of 2.77%.

New York State Common Retirement Fund cut its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 35.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,226 shares of the company's stock after selling 9,000 shares during the quarter. New York State Common Retirement Fund's holdings in Victory Capital were worth $939,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in VCTR. Covestor Ltd increased its holdings in shares of Victory Capital by 3,207.1% during the fourth quarter. Covestor Ltd now owns 463 shares of the company's stock worth $30,000 after purchasing an additional 449 shares during the period. Versant Capital Management Inc bought a new position in Victory Capital in the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC bought a new position in Victory Capital in the first quarter valued at approximately $37,000. TD Private Client Wealth LLC increased its stake in Victory Capital by 17.8% in the first quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock valued at $126,000 after acquiring an additional 329 shares during the last quarter. Finally, KBC Group NV bought a new position in Victory Capital in the first quarter valued at approximately $131,000. 87.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VCTR. Wall Street Zen cut shares of Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays lifted their price objective 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. Royal Bank Of Canada lifted their price objective on shares of Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective 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. Finally, B. Riley lifted their price objective 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. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Victory Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.22.

Victory Capital Stock Performance

NASDAQ VCTR opened at $70.64 on Friday. The firm's fifty day moving average price is $64.16 and its two-hundred day moving average price is $62.27. The stock has a market cap of $4.75 billion, a PE ratio of 15.73, a PEG ratio of 0.77 and a beta of 1.03. Victory Capital Holdings, Inc. has a fifty-two week low of $43.82 and a fifty-two week high of $73.42. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.09 and a current ratio of 1.09.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly 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 analyst estimates of $226.38 million. Victory Capital had a return on equity of 30.28% and a net margin of 32.90%. Victory Capital's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. On average, equities analysts expect 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 was paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Tuesday, June 10th. This is a positive change from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's payout ratio is 43.65%.

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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