Franklin Resources Inc. Sells 242,723 Shares of Victory Capital Holdings, Inc. $VCTR

Franklin Resources Inc. cut its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,157,956 shares of the company's stock after selling 242,723 shares during the quarter. Franklin Resources Inc. owned about 3.21% of Victory Capital worth $137,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Victory Capital by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 511,553 shares of the company's stock valued at $29,604,000 after purchasing an additional 19,508 shares in the last quarter. Vicus Capital purchased a new stake in Victory Capital during the 2nd quarter valued at $279,000. Sierra Summit Advisors LLC purchased a new stake in Victory Capital during the first quarter valued at $634,000. Vanguard Group Inc. lifted its stake in shares of Victory Capital by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company's stock worth $236,994,000 after purchasing an additional 129,055 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in Victory Capital in the first quarter worth approximately $414,000. Hedge funds and other institutional investors own 87.71% of the company's stock.

Wall Street Analyst Weigh In

VCTR has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Victory Capital from $71.00 to $70.00 and set a "neutral" rating on the stock in a research note on Monday, November 10th. The Goldman Sachs Group reissued a "buy" rating and set a $76.00 price objective on shares of Victory Capital in a report on Tuesday, September 23rd. Zacks Research downgraded Victory Capital from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 5th. Bank of America lifted their price target on Victory Capital from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Finally, B. Riley lifted their price objective on shares of Victory Capital from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.89.

Read Our Latest Analysis on VCTR

Victory Capital Stock Up 2.2%

Shares of NASDAQ VCTR opened at $63.07 on Monday. Victory Capital Holdings, Inc. has a 52-week low of $47.00 and a 52-week high of $73.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day moving average price of $64.63 and a 200 day moving average price of $65.81. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 0.61 and a beta of 1.10.

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

Victory Capital Dividend Announcement

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

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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