Bank of Montreal Can Boosts Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of Montreal Can grew its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 282.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,453 shares of the company’s stock after acquiring an additional 32,079 shares during the period. Bank of Montreal Can’s holdings in Victory Capital were worth $2,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VCTR. Fisher Asset Management LLC grew its holdings in Victory Capital by 2.7% during the third quarter. Fisher Asset Management LLC now owns 52,700 shares of the company’s stock worth $2,920,000 after acquiring an additional 1,407 shares during the period. Kingsview Wealth Management LLC purchased a new stake in Victory Capital in the 3rd quarter worth approximately $2,288,000. Charles Schwab Investment Management Inc. grew its stake in shares of Victory Capital by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,330 shares of the company’s stock worth $25,170,000 after purchasing an additional 100,614 shares during the period. Intech Investment Management LLC purchased a new position in shares of Victory Capital during the 3rd quarter valued at approximately $585,000. Finally, Empowered Funds LLC lifted its stake in shares of Victory Capital by 24.5% in the 3rd quarter. Empowered Funds LLC now owns 37,768 shares of the company’s stock valued at $2,092,000 after purchasing an additional 7,426 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Stock Performance

Shares of NASDAQ VCTR opened at $67.28 on Friday. Victory Capital Holdings, Inc. has a 52-week low of $32.41 and a 52-week high of $73.42. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $4.38 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.61 and a beta of 0.89. The firm’s 50-day moving average price is $62.53 and its two-hundred day moving average price is $55.08.

Victory Capital Increases Dividend

The business 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 $0.44 dividend. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.76 annualized dividend and a yield of 2.62%. Victory Capital’s dividend payout ratio is presently 40.80%.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. UBS Group increased 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. Morgan Stanley raised their target price on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their target price on shares of Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets boosted their price objective on shares of Victory Capital from $69.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.67.

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.