Victory Capital Holdings, Inc. (NASDAQ:VCTR) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 17.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,209 shares of the company's stock after selling 4,130 shares during the period. Legacy Wealth Asset Management LLC's holdings in Victory Capital were worth $1,169,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in Victory Capital by 110.6% during the third quarter. Barclays PLC now owns 99,367 shares of the company's stock valued at $5,506,000 after acquiring an additional 52,191 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Victory Capital by 18.0% during the 4th quarter. Blue Trust Inc. now owns 3,664 shares of the company's stock worth $240,000 after purchasing an additional 559 shares during the period. Longboard Asset Management LP bought a new position in Victory Capital during the 4th quarter valued at about $230,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Victory Capital in the 4th quarter worth about $2,782,000. Finally, Windmill Hill Asset Management Ltd purchased a new stake in Victory Capital in the 4th quarter worth about $910,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on VCTR shares. UBS Group cut their target price on Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Bank of America lowered their target price on shares of Victory Capital from $89.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Barclays upped their price target on shares of Victory Capital from $59.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Wall Street Zen lowered shares of Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, B. Riley upped their target price on shares of Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $71.56.

Victory Capital Stock Up 0.6%

Shares of NASDAQ:VCTR traded up $0.40 during trading on Tuesday, reaching $62.41. The stock had a trading volume of 192,560 shares, compared to its average volume of 349,185. The firm's 50-day simple moving average is $58.75 and its 200 day simple moving average is $62.70. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84. Victory Capital Holdings, Inc. has a one year low of $43.82 and a one year high of $73.42. The company has a market capitalization of $4.20 billion, a P/E ratio of 14.28, a PEG ratio of 0.55 and a beta of 1.05.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $226.38 million. Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. The business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. As a group, research analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, June 10th. This is an increase from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's dividend payout ratio (DPR) is currently 43.65%.

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.