Sierra Summit Advisors LLC Takes $634,000 Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Key Points

• Sierra Summit Advisors LLC acquired a new position in Victory Capital Holdings, Inc., purchasing 10,949 shares valued at approximately $634,000.
• Victory Capital's recent earnings results showed an EPS of $1.57, exceeding expectations, with revenue increasing 59.9% year-over-year.
• The company announced a quarterly dividend of $0.49 per share, translating to an annualized dividend yield of 2.8%.

Sierra Summit Advisors LLC purchased a new stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,949 shares of the company's stock, valued at approximately $634,000.

A number of other institutional investors and hedge funds also recently modified their holdings of VCTR. Bank of America Corp DE increased its stake in shares of Victory Capital by 46.8% in the 4th quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock valued at $94,159,000 after acquiring an additional 458,534 shares during the last quarter. Annex Advisory Services LLC increased its stake in shares of Victory Capital by 127.7% in the 1st quarter. Annex Advisory Services LLC now owns 395,252 shares of the company's stock valued at $22,873,000 after acquiring an additional 221,690 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Victory Capital by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company's stock valued at $236,994,000 after acquiring an additional 129,055 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Victory Capital by 966.9% in the 4th quarter. Voya Investment Management LLC now owns 141,799 shares of the company's stock valued at $9,282,000 after acquiring an additional 128,508 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Victory Capital by 940.7% in the 4th quarter. Lazard Asset Management LLC now owns 125,861 shares of the company's stock valued at $8,237,000 after acquiring an additional 113,767 shares during the last quarter. 87.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group decreased their price objective on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen lowered Victory Capital from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. B. Riley boosted 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. Finally, Royal Bank Of Canada boosted 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $72.22.

Victory Capital Stock Performance

Shares of VCTR opened at $70.48 on Friday. Victory Capital Holdings, Inc. has a 12 month low of $46.90 and a 12 month high of $73.42. The firm has a fifty day simple moving average of $65.52 and a 200 day simple moving average of $62.60. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 0.75 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.84.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. Victory Capital had a net margin of 27.18% and a return on equity of 34.06%. The business had revenue of $351.21 million during the quarter, compared to analysts' expectations of $348.89 million. During the same quarter in the prior year, the company posted $1.31 earnings per share. The firm's revenue was up 59.9% on a year-over-year basis. Research analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.49 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.96 annualized dividend and a yield of 2.8%. Victory Capital's dividend payout ratio is presently 43.65%.

Victory Capital Company 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.

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