Charles Schwab Investment Management Inc. Raises Stock Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Charles Schwab Investment Management Inc. grew its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 28.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 454,330 shares of the company’s stock after buying an additional 100,614 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Victory Capital were worth $25,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. F M Investments LLC bought a new stake in Victory Capital during the 2nd quarter valued at about $11,149,000. Royce & Associates LP bought a new stake in shares of Victory Capital in the 3rd quarter valued at about $7,755,000. Federated Hermes Inc. raised its holdings in shares of Victory Capital by 54.1% in the 2nd quarter. Federated Hermes Inc. now owns 270,472 shares of the company’s stock valued at $12,910,000 after purchasing an additional 94,943 shares in the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Victory Capital by 8.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,205,601 shares of the company’s stock valued at $57,543,000 after purchasing an additional 94,653 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Victory Capital by 11.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 589,887 shares of the company’s stock valued at $28,155,000 after purchasing an additional 58,336 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on VCTR. UBS Group boosted their price objective on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America upped their price objective on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Royal Bank of Canada boosted their target price on shares of Victory Capital from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley boosted their target price on shares of Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Victory Capital Price Performance

Shares of NASDAQ VCTR opened at $67.28 on Friday. The firm has a 50-day simple moving average of $62.53 and a 200-day simple moving average of $55.08. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 0.61 and a beta of 0.89. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. Victory Capital Holdings, Inc. has a 52 week low of $32.41 and a 52 week high of $73.42.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.62%. This is a boost from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, December 9th. Victory Capital’s dividend payout ratio is 40.80%.

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.