Strs Ohio Acquires New Position in Victory Capital Holdings, Inc. $VCTR

Key Points

• Strs Ohio has acquired 15,100 shares of Victory Capital Holdings, Inc. during the first quarter, investing approximately $874,000 in the company.
• The company recently reported earnings of $1.57 per share, exceeding expectations, with revenue rising by 59.9% compared to the prior year.
• Victory Capital has announced a quarterly dividend of $0.49, yielding 2.9% annually, set to be paid on September 25th to investors of record as of September 10th.

Strs Ohio purchased a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,100 shares of the company's stock, valued at approximately $874,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Victory Capital by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company's stock worth $236,994,000 after acquiring an additional 129,055 shares during the period. Bahl & Gaynor Inc. grew its stake in shares of Victory Capital by 17.2% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company's stock worth $105,671,000 after acquiring an additional 268,573 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Victory Capital by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,553 shares of the company's stock worth $29,604,000 after acquiring an additional 19,508 shares during the period. Nuveen LLC bought a new position in shares of Victory Capital during the 1st quarter worth $27,274,000. Finally, Annex Advisory Services LLC grew its stake in shares of Victory Capital by 127.7% during the 1st quarter. Annex Advisory Services LLC now owns 395,252 shares of the company's stock worth $22,873,000 after acquiring an additional 221,690 shares during the period. Institutional investors own 87.71% of the company's stock.

Analyst Ratings Changes

VCTR has been the topic of a number of recent research reports. B. Riley increased their price objective on Victory Capital from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Morgan Stanley increased their price objective on Victory Capital from $66.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Barclays increased their price objective on Victory Capital from $62.00 to $68.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.22.

Victory Capital Price Performance

Shares of NASDAQ:VCTR traded down $1.66 on Friday, hitting $67.05. The company's stock had a trading volume of 1,786,178 shares, compared to its average volume of 593,907. The company has a 50-day simple moving average of $69.76 and a 200 day simple moving average of $63.53. Victory Capital Holdings, Inc. has a 1 year low of $47.00 and a 1 year high of $73.42. The company has a market capitalization of $4.48 billion, a PE ratio of 16.56, a PEG ratio of 0.73 and a beta of 1.10. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.37 and a quick ratio of 1.37.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly 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. Victory Capital had a return on equity of 26.46% and a net margin of 27.18%.The firm had revenue of $351.21 million for the quarter, compared to analysts' expectations of $348.89 million. During the same quarter last year, the firm posted $1.31 EPS. The company's revenue was up 59.9% compared to the same quarter last year. Sell-side analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Announces Dividend

The firm also recently declared 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 dividend yield of 2.9%. Victory Capital's dividend payout ratio (DPR) is presently 48.40%.

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.