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

Nuveen Asset Management LLC lessened its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent 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 quarter. Nuveen Asset Management LLC owned 0.74% of Victory Capital worth $31,504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in VCTR. Covestor Ltd increased its holdings in shares of Victory Capital by 3,207.1% in the fourth quarter. Covestor Ltd now owns 463 shares of the company's stock worth $30,000 after buying an additional 449 shares during the period. Principal Securities Inc. increased its stake in Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company's stock worth $39,000 after purchasing an additional 157 shares during the period. SBI Securities Co. Ltd. bought a new stake in Victory Capital in the fourth quarter valued at approximately $43,000. Convergence Investment Partners LLC bought a new stake in Victory Capital in the fourth quarter valued at approximately $193,000. Finally, FourThought Financial Partners LLC purchased a new stake in shares of Victory Capital during the fourth quarter valued at approximately $211,000. 87.71% of the stock is owned by institutional investors.

Victory Capital Stock Up 2.2%

VCTR stock traded up $1.35 during midday trading on Tuesday, hitting $62.44. The company's stock had a trading volume of 34,672 shares, compared to its average volume of 351,247. The firm's 50-day moving average is $58.63 and its 200-day moving average is $62.80. 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 12 month low of $43.82 and a 12 month high of $73.42. The company has a market cap of $4.20 billion, a PE ratio of 14.25, a P/E/G ratio of 0.55 and a beta of 1.05.

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

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.14%. This is a boost from Victory Capital's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, June 10th. Victory Capital's payout ratio is presently 43.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. B. Riley increased their target price on shares of Victory Capital from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. BMO Capital Markets raised their target price on Victory Capital from $73.00 to $82.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Barclays increased their price objective on Victory Capital from $59.00 to $62.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.56.

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.