Victory Capital Holdings, Inc. (NASDAQ:VCTR) Announces $0.25 Quarterly Dividend

Victory Capital Holdings, Inc. (NASDAQ:VCTRGet Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Monday, September 12th will be given a dividend of 0.25 per share on Monday, September 26th. This represents a $1.00 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, September 9th.

Victory Capital has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Victory Capital to earn $4.54 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 22.0%.

Victory Capital Stock Down 3.0 %

Victory Capital stock traded down $0.85 during mid-day trading on Friday, reaching $27.82. 280,242 shares of the company were exchanged, compared to its average volume of 208,939. The business has a fifty day moving average of $25.89 and a 200 day moving average of $28.62. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $1.91 billion, a P/E ratio of 6.96, a PEG ratio of 2.61 and a beta of 1.12. Victory Capital has a 12-month low of $22.22 and a 12-month high of $43.09.

Victory Capital (NASDAQ:VCTRGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.10). Victory Capital had a net margin of 32.66% and a return on equity of 36.61%. The business had revenue of $230.02 million for the quarter, compared to analysts’ expectations of $238.87 million. Research analysts anticipate that Victory Capital will post 4.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on VCTR. B. Riley reiterated a “buy” rating and set a $36.00 price objective on shares of Victory Capital in a report on Monday, May 23rd. UBS Group decreased their price objective on Victory Capital from $29.00 to $27.00 in a report on Monday, July 11th. Piper Sandler decreased their price objective on Victory Capital from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 15th. The Goldman Sachs Group reduced their target price on Victory Capital from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Finally, Morgan Stanley reduced their target price on Victory Capital from $27.00 to $20.00 and set an “underweight” rating for the company in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.38.

Insiders Place Their Bets

In related news, Director James B. Hawkes purchased 20,000 shares of the business’s stock in a transaction on Tuesday, June 14th. The shares were bought at an average cost of $24.51 per share, with a total value of $490,200.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $490,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Victory Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in shares of Victory Capital by 21.2% during the 1st quarter. Northern Trust Corp now owns 92,798 shares of the company’s stock valued at $2,680,000 after acquiring an additional 16,201 shares during the period. Verition Fund Management LLC grew its position in shares of Victory Capital by 480.9% during the 1st quarter. Verition Fund Management LLC now owns 82,324 shares of the company’s stock valued at $2,377,000 after acquiring an additional 68,153 shares during the period. Allianz Asset Management GmbH acquired a new stake in shares of Victory Capital during the 1st quarter valued at about $1,181,000. First Trust Advisors LP grew its position in shares of Victory Capital by 33.0% during the 1st quarter. First Trust Advisors LP now owns 35,637 shares of the company’s stock valued at $1,029,000 after acquiring an additional 8,835 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Victory Capital by 32.9% during the 1st quarter. Bank of Montreal Can now owns 34,499 shares of the company’s stock valued at $1,026,000 after acquiring an additional 8,535 shares during the period. 68.66% of the stock is owned by institutional investors and hedge funds.

About Victory Capital

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Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company worldwide. It offers investment advisory, fund administration, fund compliance, fund transfer agent, and fund distribution services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.

Further Reading

Dividend History for Victory Capital (NASDAQ:VCTR)

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