Point Nemo Capital LLC Purchases 12,254 Shares of Victory Capital Holdings, Inc. $VCTR

Key Points

• Point Nemo Capital initiated a position in Victory Capital, buying 12,254 shares worth approximately $1.36 million in the third quarter. Institutional investors and hedge funds collectively own 87.71% of the company.
• Analyst opinions are mixed, but the overall consensus is Hold, with a consensus price target of $119.50. Recent target increases included RBC’s $118 and JPMorgan’s $120.
• Victory Capital’s latest quarterly earnings narrowly missed estimates: EPS was $1.98 versus $1.99 expected, and revenue was $396.6 million versus $411.2 million expected. The company declared a quarterly dividend of $0.50 per share, equal to a 1.7% annualized yield.

Point Nemo Capital LLC purchased a new stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,254 shares of the company's stock, valued at approximately $1,355,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. RFG Advisory LLC purchased a new position in Victory Capital in the 2nd quarter worth about $1,197,000. Royal Bank of Canada raised its holdings in Victory Capital by 26.8% during the 1st quarter. Royal Bank of Canada now owns 182,050 shares of the company's stock worth $11,920,000 after buying an additional 38,511 shares during the period. Janus Henderson Group PLC lifted its stake in Victory Capital by 203.5% during the first quarter. Janus Henderson Group PLC now owns 58,127 shares of the company's stock valued at $3,805,000 after buying an additional 38,977 shares in the last quarter. Bank of America Corp DE lifted its stake in Victory Capital by 12.4% during the first quarter. Bank of America Corp DE now owns 1,007,405 shares of the company's stock valued at $65,965,000 after buying an additional 111,063 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Victory Capital during the second quarter valued at about $4,710,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

VCTR has been the subject of several recent analyst reports. Zacks Research cut shares of Victory Capital from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Wall Street Zen lowered shares of Victory Capital from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada upped their price target on shares of Victory Capital from $107.00 to $118.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their price target on shares of Victory Capital from $101.00 to $120.00 and gave the company a "neutral" rating in a research report on Friday, October 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Victory Capital from $100.00 to $117.00 and gave the stock a "neutral" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $119.50.

Victory Capital Trading Up 6.1%

Shares of NASDAQ VCTR opened at $119.24 on Friday. Victory Capital Holdings, Inc. has a one year low of $57.03 and a one year high of $123.55. The firm has a market capitalization of $7.33 billion, a PE ratio of 21.92, a PEG ratio of 0.55 and a beta of 1.12. The company has a current ratio of 1.56, a quick ratio of 1.29 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $110.79 and a two-hundred day moving average price of $90.33.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $1.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.99 by ($0.01). The business had revenue of $396.57 million during the quarter, compared to analyst estimates of $411.23 million. Victory Capital had a net margin of 28.58% and a return on equity of 24.37%. As a group, analysts predict that Victory Capital Holdings, Inc. will post 7.78 earnings per share for the current fiscal year.

Victory Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Thursday, December 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. Victory Capital's payout ratio is presently 36.76%.

Victory Capital Profile

Victory Capital Holdings, Inc is a global investment management company headquartered in San Antonio, Texas. The company provides investment solutions to individual investors, financial professionals, institutions, retirement plans and other organizations through a range of investment strategies and distribution channels.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, model portfolios, collective investment trusts and customized institutional mandates.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.