TimesSquare Capital Management LLC Has $46.13 Million Stake in Victory Capital Holdings, Inc. $VCTR

Key Points

• TimesSquare Capital Management trimmed its Victory Capital stake by 3.7% in the fourth quarter, but still held 731,214 shares valued at about $46.13 million.
• Victory Capital reported strong quarterly results, with EPS of $1.82 topping estimates and revenue rising 76.7% year over year to $387.99 million. Analysts now expect the company to earn 6.73 EPS for the full year.
• The company also raised its quarterly dividend to $0.50 per share, boosting the annualized payout to $2.00 and the yield to about 2.3%.

TimesSquare Capital Management LLC trimmed its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 731,214 shares of the company's stock after selling 28,288 shares during the period. TimesSquare Capital Management LLC owned 1.13% of Victory Capital worth $46,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Planned Solutions Inc. increased its holdings in Victory Capital by 4.6% during the fourth quarter. Planned Solutions Inc. now owns 3,546 shares of the company's stock worth $224,000 after buying an additional 155 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Victory Capital by 1.6% in the second quarter. Baird Financial Group Inc. now owns 10,332 shares of the company's stock valued at $658,000 after purchasing an additional 163 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Victory Capital by 1.9% in the second quarter. American Century Companies Inc. now owns 11,892 shares of the company's stock valued at $757,000 after purchasing an additional 217 shares during the last quarter. CWM LLC increased its holdings in shares of Victory Capital by 29.0% in the third quarter. CWM LLC now owns 973 shares of the company's stock valued at $63,000 after purchasing an additional 219 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Victory Capital by 2.6% in the fourth quarter. ProShare Advisors LLC now owns 8,654 shares of the company's stock valued at $546,000 after purchasing an additional 222 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Victory Capital Trading Up 1.9%

VCTR stock opened at $87.07 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.13. The company's 50-day simple moving average is $72.54 and its 200 day simple moving average is $68.75. Victory Capital Holdings, Inc. has a 52 week low of $57.03 and a 52 week high of $88.73. The company has a market capitalization of $5.44 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 0.96 and a beta of 1.09.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.63 by $0.19. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The business had revenue of $387.99 million for the quarter, compared to the consensus estimate of $364.97 million. During the same period in the prior year, the company posted $1.36 earnings per share. Victory Capital's revenue was up 76.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Victory Capital Holdings, Inc. will post 6.73 earnings per share for the current year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. This is a boost from Victory Capital's previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, June 10th. Victory Capital's dividend payout ratio is currently 44.14%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Victory Capital in a report on Monday, April 20th. Wall Street Zen upgraded shares of Victory Capital from a "hold" rating to a "buy" rating in a report on Saturday. Barclays upped their price objective on shares of Victory Capital from $74.00 to $85.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Victory Capital from $72.00 to $81.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, Morgan Stanley set a $76.00 price objective on shares of Victory Capital in a report on Friday, May 1st. 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 currently has an average rating of "Moderate Buy" and an average price target of $82.71.

About Victory Capital

Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.

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