Principal Financial Group Inc. Has $15.19 Million Stock Holdings in Victory Capital Holdings, Inc. $VCTR

Key Points

• Principal Financial Group cut its stake in Victory Capital Holdings by 21.4% in the first quarter, selling 63,192 shares and leaving it with 231,953 shares worth about $15.19 million.
• Analyst sentiment remains mixed but constructive: Victory Capital now has a Moderate Buy consensus, with an average price target of $89.14 after recent upgrades from several firms.
• The company reported strong quarterly results, beating EPS and revenue estimates, and it recently raised its quarterly dividend to $0.50 per share for an annualized yield of about 2.1%.

Principal Financial Group Inc. reduced its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 231,953 shares of the company's stock after selling 63,192 shares during the quarter. Principal Financial Group Inc. owned 0.36% of Victory Capital worth $15,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its position in Victory Capital by 19,350.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company's stock worth $25,000 after purchasing an additional 387 shares during the period. Core Wealth Advisors LLC bought a new position in Victory Capital in the 4th quarter valued at about $30,000. Covestor Ltd increased its holdings in Victory Capital by 99.7% in the 4th quarter. Covestor Ltd now owns 669 shares of the company's stock valued at $42,000 after buying an additional 334 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Victory Capital by 48.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 753 shares of the company's stock valued at $48,000 after buying an additional 246 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Victory Capital by 146.4% in the 4th quarter. GAMMA Investing LLC now owns 860 shares of the company's stock valued at $54,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company's stock.

Analyst Ratings Changes

VCTR has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Victory Capital in a research note on Tuesday, June 2nd. They issued a "neutral" rating and a $90.00 price objective on the stock. Morgan Stanley upped their target price on Victory Capital from $76.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Victory Capital in a report on Friday, July 17th. Wall Street Zen upgraded Victory Capital from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Zacks Research raised Victory Capital from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.14.

Victory Capital Price Performance

VCTR stock opened at $96.49 on Friday. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 1.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50 day simple moving average of $88.37 and a 200 day simple moving average of $77.38. Victory Capital Holdings, Inc. has a 1 year low of $57.03 and a 1 year high of $102.05.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.19. The firm had revenue of $387.99 million for the quarter, compared to analyst estimates of $364.97 million. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The company's quarterly revenue was up 76.7% on a year-over-year basis. During the same quarter last year, the business posted $1.36 earnings per share. Research analysts anticipate that Victory Capital Holdings, Inc. will post 7.38 EPS for the current fiscal year.

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a boost from Victory Capital's previous quarterly dividend of $0.49. Victory Capital's payout ratio is currently 45.05%.

About Victory Capital

Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.

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