LPL Financial LLC Purchases 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 lifted its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 37.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,105 shares of the company's stock after buying an additional 8,209 shares during the period. LPL Financial LLC's holdings in Victory Capital were worth $1,742,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Victory Capital during the first quarter worth $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Victory Capital during the first quarter worth $37,000. TD Private Client Wealth LLC increased its holdings in shares of Victory Capital by 17.8% during the first quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock worth $126,000 after buying an additional 329 shares in the last quarter. KBC Group NV acquired a new position in shares of Victory Capital during the first quarter worth $131,000. Finally, Blue Trust Inc. increased its holdings in shares of Victory Capital by 25.0% during the first quarter. Blue Trust Inc. now owns 3,314 shares of the company's stock worth $192,000 after buying an additional 663 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Victory Capital Trading Down 0.0%

VCTR traded down $0.03 during trading on Wednesday, reaching $71.50. 452,853 shares of the stock traded hands, compared to its average volume of 650,883. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $4.77 billion, a PE ratio of 17.65, a P/E/G ratio of 0.76 and a beta of 1.04. The stock's 50-day moving average is $67.71 and its 200 day moving average is $63.05. Victory Capital Holdings, Inc. has a 12 month low of $47.00 and a 12 month high of $73.42.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. The business had revenue of $351.21 million for the quarter, compared to analysts' expectations of $348.89 million. Victory Capital had a net margin of 27.18% and a return on equity of 26.46%. The business's quarterly revenue was up 59.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 earnings per share. Equities analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current year.

Victory Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.96 dividend on an annualized basis and a yield of 2.7%. Victory Capital's dividend payout ratio is 48.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VCTR. B. Riley upped their price target on shares of Victory Capital from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Wall Street Zen downgraded shares of Victory Capital from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price objective on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Royal Bank Of Canada increased their price objective on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Finally, Barclays increased their price objective on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Victory Capital presently has an average rating of "Moderate Buy" and a consensus price target of $73.22.

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.