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

Several other institutional investors and hedge funds have also recently modified their holdings of VCTR. EP Wealth Advisors LLC increased its position in shares of Victory Capital by 7.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,193 shares of the company's stock valued at $243,000 after purchasing an additional 273 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in Victory Capital by 0.4% in the 1st quarter. Moody National Bank Trust Division now owns 81,175 shares of the company's stock worth $4,698,000 after buying an additional 291 shares during the period. TD Private Client Wealth LLC lifted its holdings in Victory Capital by 17.8% in the 1st 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 period. FourThought Financial Partners LLC lifted its holdings in Victory Capital by 11.5% in the 1st quarter. FourThought Financial Partners LLC now owns 3,594 shares of the company's stock worth $208,000 after buying an additional 372 shares during the period. Finally, Vista Finance LLC lifted its holdings in Victory Capital by 7.0% in the 1st quarter. Vista Finance LLC now owns 6,286 shares of the company's stock worth $364,000 after buying an additional 410 shares during the period. Hedge funds and other institutional investors own 87.71% of the company's stock.

Victory Capital Stock Down 2.9%

Shares of NASDAQ:VCTR opened at $68.62 on Friday. The stock has a fifty day simple moving average of $69.46 and a two-hundred day simple moving average of $63.34. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.75 and a beta of 1.10. Victory Capital Holdings, Inc. has a 12-month low of $47.00 and a 12-month high of $73.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. Victory Capital had a return on equity of 26.46% and a net margin of 27.18%.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 previous year, the business earned $1.31 earnings per share. The firm's quarterly revenue was up 59.9% compared to the same quarter last year. On average, research 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 declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.96 annualized dividend and a dividend yield of 2.9%. Victory Capital's payout ratio is currently 48.40%.

Wall Street Analyst Weigh In

VCTR has been the subject of several research analyst reports. Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. 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. Morgan Stanley raised their target price on Victory Capital from $66.00 to $67.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. Finally, B. Riley raised their target price on Victory Capital from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Victory Capital has a consensus rating of "Moderate Buy" and an average target price of $73.22.

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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