LPL Financial LLC Buys 8,209 Shares of Victory Capital Holdings, Inc. $VCTR

Key Points

• LPL Financial LLC raised its position in Victory Capital Holdings by 37.5%, owning 30,105 shares valued at approximately $1.74 million after purchasing an additional 8,209 shares.
• Victory Capital reported earnings of $1.57 per share for the latest quarter, exceeding estimates, with revenue up 59.9% year-over-year.
• The company announced a quarterly dividend of $0.49 per share, representing an annual dividend yield of 2.8%, scheduled for payment on September 25.

LPL Financial LLC raised its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 37.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,105 shares of the company's stock after purchasing an additional 8,209 shares during the period. LPL Financial LLC's holdings in Victory Capital were worth $1,742,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VCTR. Versant Capital Management Inc acquired a new position in shares of Victory Capital in the first quarter valued at approximately $34,000. Opal Wealth Advisors LLC purchased a new stake in Victory Capital in the 1st quarter worth approximately $37,000. TD Private Client Wealth LLC raised 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 valued at $126,000 after acquiring an additional 329 shares during the last quarter. KBC Group NV acquired a new position in Victory Capital in the 1st quarter valued at $131,000. Finally, Blue Trust Inc. lifted its stake in shares of Victory Capital by 25.0% during the 1st quarter. Blue Trust Inc. now owns 3,314 shares of the company's stock worth $192,000 after purchasing an additional 663 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on VCTR. UBS Group dropped their price objective on shares of Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada lifted their price target on shares of Victory Capital from $72.00 to $75.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price objective on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, B. Riley boosted their price target on Victory Capital from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.22.

Victory Capital Stock Performance

Shares of Victory Capital stock traded up $2.00 during trading hours on Friday, reaching $71.78. The company's stock had a trading volume of 882,827 shares, compared to its average volume of 619,736. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.37 and a current ratio of 1.37. Victory Capital Holdings, Inc. has a one year low of $47.00 and a one year high of $73.42. The company's 50 day simple moving average is $67.16 and its 200 day simple moving average is $62.95. The stock has a market cap of $4.79 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released 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 analyst estimates of $348.89 million. During the same quarter in the previous year, the firm posted $1.31 EPS. The business's revenue for the quarter was up 59.9% compared to the same quarter last year. As a group, analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Announces Dividend

The business 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, September 10th. Victory Capital's dividend payout ratio is currently 48.40%.

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.