Sierra Summit Advisors LLC Makes New Investment 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 acquired a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,949 shares of the company's stock, valued at approximately $634,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd grew its position 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 buying an additional 449 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Victory Capital during the first quarter worth about $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Victory Capital during the first quarter worth about $37,000. TD Private Client Wealth LLC boosted its holdings 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 purchasing an additional 329 shares in the last quarter. Finally, KBC Group NV acquired 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 and hedge funds.

Victory Capital Price Performance

NASDAQ:VCTR traded down $0.79 during trading hours on Wednesday, hitting $71.88. The company's stock had a trading volume of 312,635 shares, compared to its average volume of 418,938. The business's 50-day moving average is $65.90 and its two-hundred day moving average is $62.64. The company has a market capitalization of $4.83 billion, a PE ratio of 17.74, a PEG ratio of 0.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.37. Victory Capital Holdings, Inc. has a 52-week low of $47.00 and a 52-week high of $73.42.

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

Victory Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.96 annualized dividend and a yield of 2.7%. Victory Capital's dividend payout ratio is 48.40%.

Wall Street Analyst Weigh In

VCTR has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price target on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. B. Riley upped their price target on Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Barclays upped their price target on Victory Capital from $62.00 to $68.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. UBS Group cut their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $72.22.

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.