Principal Financial Group Inc. Raises Stock Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Principal Financial Group Inc. lifted its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,830 shares of the company’s stock after buying an additional 5,204 shares during the quarter. Principal Financial Group Inc.’s holdings in Victory Capital were worth $3,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in VCTR. Farther Finance Advisors LLC boosted its holdings in Victory Capital by 367.5% in the third quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock valued at $32,000 after purchasing an additional 452 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Victory Capital by 35.2% in the fourth quarter. Principal Securities Inc. now owns 603 shares of the company’s stock valued at $39,000 after acquiring an additional 157 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Victory Capital in the third quarter valued at approximately $72,000. FMR LLC boosted its holdings in shares of Victory Capital by 18.1% in the third quarter. FMR LLC now owns 1,341 shares of the company’s stock valued at $74,000 after acquiring an additional 206 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Victory Capital by 33.9% in the third quarter. TD Private Client Wealth LLC now owns 1,903 shares of the company’s stock valued at $105,000 after acquiring an additional 482 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Victory Capital from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, February 10th. Morgan Stanley increased their price objective on Victory Capital from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. B. Riley reissued a “neutral” rating and issued a $60.00 price objective (up from $57.00) on shares of Victory Capital in a report on Tuesday, January 7th. BMO Capital Markets upped their price target on Victory Capital from $73.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group upped their price target on Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Victory Capital has an average rating of “Hold” and a consensus price target of $68.33.

Victory Capital Trading Down 5.2 %

NASDAQ:VCTR opened at $59.09 on Wednesday. The stock has a fifty day moving average price of $65.66 and a two-hundred day moving average price of $61.89. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19. Victory Capital Holdings, Inc. has a 1 year low of $38.70 and a 1 year high of $73.42.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. As a group, sell-side analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be given a $0.47 dividend. This is a boost from Victory Capital’s previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 3.18%. Victory Capital’s dividend payout ratio is presently 43.02%.

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.