PNC Financial Services Group Inc. Has $291,000 Holdings in Victory Capital Holdings, Inc. $VCTR

Key Points

• PNC Financial Services Group Inc. cut its holdings in Victory Capital Holdings, Inc. by 43.8%, selling 3,921 shares and retaining 5,027 shares worth approximately $291,000.
• Victory Capital recently reported earnings of $1.57 per share, exceeding analysts' expectations, with revenues increasing 59.9% year-over-year to $351.21 million.
• The company announced a quarterly dividend of $0.49, set to be paid on September 25th, which represents an annual yield of 2.8%.

PNC Financial Services Group Inc. cut its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 43.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,027 shares of the company's stock after selling 3,921 shares during the period. PNC Financial Services Group Inc.'s holdings in Victory Capital were worth $291,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Bosun Asset Management LLC grew its position in Victory Capital by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 13,016 shares of the company's stock worth $852,000 after acquiring an additional 176 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Victory Capital by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,303 shares of the company's stock worth $282,000 after acquiring an additional 273 shares during the last quarter. Moody National Bank Trust Division grew its position in Victory Capital by 0.4% during the 1st quarter. Moody National Bank Trust Division now owns 81,175 shares of the company's stock worth $4,698,000 after acquiring an additional 291 shares during the last quarter. TD Private Client Wealth LLC grew its position in Victory Capital by 17.8% during the 1st quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock worth $126,000 after acquiring an additional 329 shares during the last quarter. Finally, FourThought Financial Partners LLC grew its position in Victory Capital by 11.5% during the 1st quarter. FourThought Financial Partners LLC now owns 3,594 shares of the company's stock worth $208,000 after acquiring an additional 372 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Victory Capital Trading Down 0.4%

Shares of NASDAQ:VCTR traded down $0.29 during midday trading on Thursday, hitting $69.78. The company had a trading volume of 888,429 shares, compared to its average volume of 599,792. Victory Capital Holdings, Inc. has a 12 month low of $47.00 and a 12 month high of $73.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.75 and a beta of 1.04. The firm has a fifty day simple moving average of $66.95 and a 200 day simple moving average of $62.92.

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

Victory Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, September 10th. Victory Capital's dividend payout ratio (DPR) is currently 48.40%.

Analyst Ratings Changes

A number of equities research analysts recently commented on VCTR shares. UBS Group decreased their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. decreased their price objective on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Barclays increased their price objective on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price objective on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, B. Riley increased their price objective on Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Victory Capital has an average rating of "Moderate Buy" and an average target price of $72.33.

Victory Capital 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.