Envestnet Asset Management Inc. Sells 13,746 Shares of Victory Capital Holdings, Inc. $VCTR

Envestnet Asset Management Inc. reduced its stake in Victory Capital Holdings, Inc. by 10.7% in Q2, selling 13,746 shares, leaving it with 114,315 shares valued at $7.28 million. Other institutional investors have also adjusted their holdings. Analysts have mixed ratings on Victory Capital, with a consensus rating of "Moderate Buy" and an average target price of $74.89. The company reported Q3 earnings of $1.63 per share, exceeding estimates, and announced a quarterly dividend of $0.49 per share, payable on December 23rd.

Envestnet Asset Management Inc. decreased its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,315 shares of the company's stock after selling 13,746 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Victory Capital worth $7,278,000 as of its most recent SEC filing.

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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Victory Capital by 2,131.6% during the second quarter. Nisa Investment Advisors LLC now owns 424 shares of the company's stock worth $27,000 after buying an additional 405 shares during the period. Maseco LLP acquired a new position in Victory Capital in the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Victory Capital in the first quarter valued at $41,000. Farther Finance Advisors LLC boosted its position in Victory Capital by 1,048.1% during the second quarter. Farther Finance Advisors LLC now owns 1,504 shares of the company's stock valued at $96,000 after acquiring an additional 1,373 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Victory Capital during the 1st quarter worth about $98,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VCTR. B. Riley boosted their price objective on Victory Capital from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, August 22nd. Bank of America lifted their target price on Victory Capital from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Zacks Research lowered Victory Capital from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 5th. Morgan Stanley increased their price target on Victory Capital from $67.00 to $69.00 and gave the stock a "positive" rating in a report on Monday, October 6th. Finally, Barclays reduced their price objective on shares of Victory Capital from $72.00 to $68.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 21st. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $74.89.

View Our Latest Research Report on VCTR

Victory Capital Trading Up 1.8%

NASDAQ VCTR opened at $62.37 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.26 and a debt-to-equity ratio of 0.41. Victory Capital Holdings, Inc. has a 52 week low of $47.00 and a 52 week high of $73.42. The business has a 50 day moving average price of $65.88 and a 200-day moving average price of $65.55. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 0.62 and a beta of 1.10.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. Victory Capital had a net margin of 25.27% and a return on equity of 24.23%. The business had revenue of $361.20 million during the quarter, compared to the consensus estimate of $361.14 million. During the same quarter last year, the firm posted $1.35 EPS. Victory Capital's revenue was up 60.1% compared to the same quarter last year. As a group, equities analysts expect that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $1.96 annualized dividend and a dividend yield of 3.1%. Victory Capital's payout ratio is presently 50.00%.

Victory Capital Company Profile

(Free Report)

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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