Swedbank AB Reduces Holdings in Victory Capital Holdings, Inc. $VCTR

Key Points

• Swedbank AB has reduced its stake in Victory Capital Holdings by 17.9%, now owning approximately 0.86% of the company, valued at $33.28 million.
• Victory Capital reported earnings per share of $1.57 for the last quarter, exceeding analyst estimates, with a significant year-over-year revenue increase of 59.9%.
• The company declared a quarterly dividend of $0.49, with an ex-dividend date set for September 10th, representing an annualized yield of 2.9%.

Swedbank AB cut its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,000 shares of the company's stock after selling 125,000 shares during the period. Swedbank AB owned 0.86% of Victory Capital worth $33,275,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VCTR. Versant Capital Management Inc bought a new position in Victory Capital in the 1st quarter valued at about $34,000. Opal Wealth Advisors LLC purchased a new stake in Victory Capital during the first quarter valued at about $37,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Victory Capital in the first quarter worth approximately $41,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Victory Capital in the first quarter worth approximately $98,000. Finally, TD Private Client Wealth LLC increased 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 worth $126,000 after buying an additional 329 shares during the last quarter. Institutional investors own 87.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their price objective on shares of Victory Capital from $66.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Barclays raised their target price on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. B. Riley boosted 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. Finally, Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.22.

Victory Capital Price Performance

Shares of VCTR traded up $1.84 during trading hours on Thursday, hitting $69.10. 257,197 shares of the company were exchanged, compared to its average volume of 449,488. The firm's fifty day moving average is $69.67 and its 200 day moving average is $63.43. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 0.73 and a beta of 1.10. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.39. Victory Capital Holdings, Inc. has a fifty-two week low of $47.00 and a fifty-two week high of $73.42.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings data 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 business 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 period last year, the firm posted $1.31 earnings per share. On average, equities analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share 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 paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.96 annualized dividend and a yield of 2.8%. Victory Capital's dividend payout ratio (DPR) is currently 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.