Victory Capital Holdings, Inc. $VCTR Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 25.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,344 shares of the company's stock after selling 4,226 shares during the period. Allspring Global Investments Holdings LLC's holdings in Victory Capital were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC increased its position in Victory Capital by 7.0% during the 1st quarter. EP Wealth Advisors LLC now owns 4,193 shares of the company's stock valued at $243,000 after buying an additional 273 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Victory Capital by 17.8% during the 1st quarter. TD Private Client Wealth LLC now owns 2,177 shares of the company's stock valued at $126,000 after purchasing an additional 329 shares during the last quarter. FourThought Financial Partners LLC grew its stake in Victory Capital by 11.5% during the 1st quarter. FourThought Financial Partners LLC now owns 3,594 shares of the company's stock valued at $208,000 after purchasing an additional 372 shares during the last quarter. Comerica Bank grew its stake in Victory Capital by 5.8% during the 1st quarter. Comerica Bank now owns 7,559 shares of the company's stock valued at $437,000 after purchasing an additional 414 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its stake in Victory Capital by 1.6% during the 2nd quarter. Wesbanco Bank Inc. now owns 29,433 shares of the company's stock valued at $1,874,000 after purchasing an additional 471 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VCTR. Weiss Ratings reiterated a "buy (b)" rating on shares of Victory Capital in a research note on Wednesday, October 8th. Bank of America boosted their price target on Victory Capital from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. The Goldman Sachs Group reiterated a "buy" rating and set a $76.00 price target on shares of Victory Capital in a research note on Tuesday, September 23rd. Barclays dropped their price target on Victory Capital from $72.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Zacks Research upgraded Victory Capital from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.00.

Victory Capital Stock Performance

NASDAQ VCTR opened at $63.19 on Friday. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.65 and a beta of 1.07. Victory Capital Holdings, Inc. has a twelve month low of $47.00 and a twelve month high of $73.42. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $68.15 and a 200 day moving average of $64.77.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.10. The company had revenue of $351.21 million during the quarter, compared to analysts' expectations of $348.89 million. Victory Capital had a return on equity of 26.46% and a net margin of 27.18%.Victory Capital'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 EPS. Sell-side analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Wednesday, September 10th were issued a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $1.96 dividend on an annualized basis and a yield of 3.1%. Victory Capital's dividend payout ratio is presently 48.40%.

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.

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