Nuveen Asset Management LLC Lowers Stock Holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Nuveen Asset Management LLC lowered its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 481,267 shares of the company's stock after selling 43,260 shares during the period. Nuveen Asset Management LLC owned about 0.74% of Victory Capital worth $31,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in VCTR. Bank of America Corp DE lifted its position in Victory Capital by 46.8% in the fourth quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock valued at $94,159,000 after purchasing an additional 458,534 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Victory Capital in the fourth quarter valued at about $17,755,000. TimesSquare Capital Management LLC lifted its position in Victory Capital by 20.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 976,161 shares of the company's stock valued at $63,899,000 after purchasing an additional 166,265 shares during the period. Bahl & Gaynor Inc. lifted its position in Victory Capital by 10.9% in the fourth quarter. Bahl & Gaynor Inc. now owns 1,557,425 shares of the company's stock valued at $101,949,000 after purchasing an additional 153,459 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Victory Capital by 99.1% during the 4th quarter. Royce & Associates LP now owns 278,683 shares of the company's stock valued at $18,243,000 after acquiring an additional 138,700 shares during the period. Institutional investors and hedge funds own 87.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Victory Capital from $73.00 to $82.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Wall Street Zen downgraded shares of Victory Capital from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. B. Riley lifted their price target on shares of Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Bank of America reduced their price target on shares of Victory Capital from $89.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Victory Capital currently has an average rating of "Moderate Buy" and a consensus target price of $71.56.

Victory Capital Price Performance

Shares of VCTR traded up $1.80 during mid-day trading on Tuesday, reaching $62.89. 260,766 shares of the company's stock were exchanged, compared to its average volume of 352,127. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The company has a 50-day simple moving average of $58.68 and a two-hundred day simple moving average of $62.80. Victory Capital Holdings, Inc. has a 52-week low of $43.82 and a 52-week high of $73.42. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.55 and a beta of 1.05.

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

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a $0.49 dividend. This is a boost from Victory Capital's previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 3.12%. The ex-dividend date is Tuesday, June 10th. Victory Capital's payout ratio is presently 43.65%.

Victory Capital 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.