Lazard Asset Management LLC Purchases 113,767 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Lazard Asset Management LLC lifted its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 940.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 125,861 shares of the company's stock after acquiring an additional 113,767 shares during the quarter. Lazard Asset Management LLC owned approximately 0.19% of Victory Capital worth $8,237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of VCTR. Covestor Ltd grew its holdings in shares of Victory Capital by 3,207.1% during the 4th quarter. Covestor Ltd now owns 463 shares of the company's stock valued at $30,000 after acquiring an additional 449 shares in the last quarter. Principal Securities Inc. grew its stake in shares of Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company's stock valued at $39,000 after buying an additional 157 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Victory Capital in the fourth quarter worth approximately $43,000. Convergence Investment Partners LLC acquired a new position in Victory Capital in the fourth quarter worth approximately $193,000. Finally, FourThought Financial Partners LLC bought a new position in Victory Capital during the fourth quarter valued at approximately $211,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays boosted their target price on shares of Victory Capital from $59.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. BMO Capital Markets upped their price objective on shares of Victory Capital from $73.00 to $82.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Bank of America cut their target price on Victory Capital from $89.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, April 3rd. UBS Group reduced their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Royal Bank of Canada raised their price objective on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $71.56.

Victory Capital Stock Performance

NASDAQ:VCTR traded down $0.35 during mid-day trading on Tuesday, hitting $64.07. 61,782 shares of the company's stock traded hands, compared to its average volume of 308,978. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. The firm has a 50 day moving average of $58.33 and a two-hundred day moving average of $62.84. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84. Victory Capital Holdings, Inc. has a 12 month low of $43.82 and a 12 month high of $73.42.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. The business had revenue of $219.60 million during the quarter, compared to the consensus estimate of $226.38 million. During the same period in the prior year, the company posted $1.25 earnings per share. The firm's revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.06%. This is a positive change from Victory Capital's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, June 10th. Victory Capital's dividend payout ratio (DPR) is currently 43.65%.

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.