Voya Investment Management LLC Cuts Stock Holdings in Victory Capital Holdings, Inc. $VCTR

Key Points

• Voya Investment Management LLC has reduced its stake in Victory Capital Holdings, Inc. by 15% during the first quarter, selling 21,304 shares and holding approximately 120,495 shares valued at $6.97 million.
• The firm recently announced a quarterly dividend of $0.49 per share, with a dividend yield of 2.9%, reflecting a payout ratio of 48.40%.
• Victory Capital has shown significant growth, with a reported 59.9% year-over-year increase in revenue, amounting to $351.21 million for the last quarter.

Voya Investment Management LLC reduced its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 15.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,495 shares of the company's stock after selling 21,304 shares during the quarter. Voya Investment Management LLC owned about 0.18% of Victory Capital worth $6,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rhumbline Advisers increased its holdings in shares of Victory Capital by 5.5% in the 1st quarter. Rhumbline Advisers now owns 58,136 shares of the company's stock valued at $3,364,000 after acquiring an additional 3,027 shares during the period. Strs Ohio purchased a new position in shares of Victory Capital in the 1st quarter valued at $874,000. Intech Investment Management LLC increased its holdings in shares of Victory Capital by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 20,442 shares of the company's stock valued at $1,183,000 after acquiring an additional 3,237 shares during the period. Jane Street Group LLC purchased a new position in shares of Victory Capital in the 1st quarter valued at $3,747,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Victory Capital by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company's stock valued at $5,688,000 after acquiring an additional 9,319 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on VCTR shares. Barclays boosted their target price on Victory Capital from $62.00 to $68.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Morgan Stanley boosted their target price on Victory Capital from $66.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Monday, August 18th. Finally, B. Riley boosted their target price on Victory Capital from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.22.

Victory Capital Stock Performance

VCTR traded down $1.66 on Friday, reaching $67.05. 1,786,178 shares of the stock were exchanged, compared to its average volume of 639,075. The company's 50-day moving average price is $69.76 and its 200 day moving average price is $63.59. Victory Capital Holdings, Inc. has a fifty-two week low of $47.00 and a fifty-two week high of $73.42. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $4.48 billion, a PE ratio of 16.56, a PEG ratio of 0.71 and a beta of 1.10.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. The business 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%.The company's revenue for the quarter was up 59.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, sell-side analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a $0.49 dividend. 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 2.9%. Victory Capital's dividend payout ratio is presently 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.