Victory Capital Holdings, Inc. $VCTR Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Victory Capital stake by 23.5% in the third quarter, selling 23,908 shares and retaining 77,782 shares valued at approximately $8.6 million. Institutional investors collectively own 87.71% of the company.
• Victory Capital reported quarterly earnings of $2.21 per share, exceeding the $1.79 analyst consensus, while revenue of $435.36 million also surpassed expectations. The company pays a quarterly dividend of $0.50, representing a 1.8% annual yield.
• VCTR recently traded at $114.07, near its 12-month high of $123.55. Analysts maintain a consensus “Hold” rating with an average price target of $113.33.

Argent Capital Management LLC trimmed its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 23.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,782 shares of the company's stock after selling 23,908 shares during the period. Argent Capital Management LLC owned approximately 0.13% of Victory Capital worth $8,603,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in Victory Capital in the second quarter valued at approximately $42,035,000. Dimensional Fund Advisors LP grew its position in shares of Victory Capital by 14.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company's stock worth $114,163,000 after acquiring an additional 221,471 shares during the last quarter. Capital World Investors grew its position in shares of Victory Capital by 4.3% during the fourth quarter. Capital World Investors now owns 3,768,001 shares of the company's stock worth $237,723,000 after acquiring an additional 155,732 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Victory Capital by 12.4% in the 1st quarter. Bank of America Corp DE now owns 1,007,405 shares of the company's stock valued at $65,965,000 after acquiring an additional 111,063 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Victory Capital in the 2nd quarter valued at $4,710,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Stock Performance

NASDAQ VCTR traded up $0.84 during trading hours on Monday, hitting $114.07. 206,730 shares of the stock were exchanged, compared to its average volume of 589,819. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.93 and a beta of 1.12. Victory Capital Holdings, Inc. has a 12-month low of $57.03 and a 12-month high of $123.55. The stock has a 50-day moving average of $110.30 and a 200 day moving average of $91.63. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.21 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.42. Victory Capital had a return on equity of 24.17% and a net margin of 29.57%.The company had revenue of $435.36 million for the quarter, compared to analyst estimates of $386.09 million. As a group, equities research analysts forecast that Victory Capital Holdings, Inc. will post 7.79 earnings per share for the current year.

Victory Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Thursday, September 10th were paid a $0.50 dividend. The ex-dividend date was Thursday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. Victory Capital's payout ratio is 36.76%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VCTR. Morgan Stanley increased their price target on shares of Victory Capital from $91.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Friday, September 25th. UBS Group set a $117.00 price target on Victory Capital in a report on Friday, August 28th. Zacks Research cut Victory Capital from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Royal Bank Of Canada upped their price objective on Victory Capital from $107.00 to $118.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group increased their price objective on Victory Capital from $100.00 to $117.00 and gave the stock a "neutral" rating in a research report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $113.33.

Victory Capital Profile

Victory Capital Holdings, Inc is an investment management company headquartered in San Antonio, Texas. Through its investment management businesses and affiliated brands, the company provides a range of actively managed and rules-based investment strategies for individual investors, financial intermediaries, retirement plans, institutions and other organizations.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, model portfolios and institutional investment mandates.

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