Victory Capital Holdings, Inc. (NASDAQ:VCTR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 69.4% during the second quarter, HoldingsChannel.com reports. The fund owned 11,374 shares of the company’s stock after selling 25,772 shares during the period. Bank of Montreal Can’s holdings in Victory Capital were worth $556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank boosted its position in Victory Capital by 50.7% during the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after acquiring an additional 479 shares during the last quarter. CWM LLC boosted its position in Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after acquiring an additional 564 shares during the last quarter. Fiera Capital Corp boosted its position in Victory Capital by 0.9% during the second quarter. Fiera Capital Corp now owns 73,974 shares of the company’s stock worth $3,531,000 after acquiring an additional 644 shares during the last quarter. QRG Capital Management Inc. raised its stake in Victory Capital by 7.7% during the second quarter. QRG Capital Management Inc. now owns 9,911 shares of the company’s stock worth $473,000 after purchasing an additional 709 shares during the period. Finally, Kendall Capital Management raised its stake in Victory Capital by 0.8% during the second quarter. Kendall Capital Management now owns 94,949 shares of the company’s stock worth $4,532,000 after purchasing an additional 737 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VCTR. Bank of America lifted their target price on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Barclays began coverage on shares of Victory Capital in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Morgan Stanley lifted their target price on shares of Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.78.

Victory Capital Price Performance

Victory Capital stock opened at $57.00 on Wednesday. The company’s 50 day simple moving average is $52.60 and its 200-day simple moving average is $50.30. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 0.61 and a beta of 0.91. Victory Capital Holdings, Inc. has a 1 year low of $28.66 and a 1 year high of $58.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current ratio of 0.91.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. The business had revenue of $219.62 million for the quarter, compared to the consensus estimate of $220.82 million. As a group, equities research analysts expect that Victory Capital Holdings, Inc. will post 5.19 earnings per share for the current year.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a dividend of $0.41 per share. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Tuesday, September 10th. Victory Capital’s dividend payout ratio is presently 50.31%.

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.