Advisors Asset Management Inc. Reduces Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Advisors Asset Management Inc. lowered its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 32.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,005 shares of the company’s stock after selling 9,127 shares during the period. Advisors Asset Management Inc.’s holdings in Victory Capital were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB acquired a new stake in shares of Victory Capital during the first quarter worth approximately $29,701,000. Vanguard Group Inc. grew its holdings in Victory Capital by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock worth $158,661,000 after acquiring an additional 527,190 shares in the last quarter. F M Investments LLC acquired a new stake in shares of Victory Capital in the 2nd quarter valued at about $11,149,000. Lazard Asset Management LLC lifted its position in shares of Victory Capital by 2,335.8% during the first quarter. Lazard Asset Management LLC now owns 158,959 shares of the company’s stock worth $6,743,000 after purchasing an additional 152,433 shares during the last quarter. Finally, Royce & Associates LP acquired a new position in Victory Capital in the third quarter worth about $7,755,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on VCTR. BMO Capital Markets increased their target price on Victory Capital from $69.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Bank of America boosted their target price on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Morgan Stanley raised their price target on shares of Victory Capital from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. UBS Group boosted their price objective on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Victory Capital has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Victory Capital Price Performance

Shares of NASDAQ:VCTR opened at $71.07 on Tuesday. The firm’s 50 day moving average is $59.78 and its two-hundred day moving average is $53.94. The firm has a market capitalization of $4.62 billion, a P/E ratio of 17.68, a PEG ratio of 0.60 and a beta of 0.90. 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 52 week low of $31.18 and a 52 week high of $72.08.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.76 annualized dividend and a yield of 2.48%. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s payout ratio is presently 40.80%.

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.