Avantax Advisory Services Inc. Invests $635,000 in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Avantax Advisory Services Inc. bought a new stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,700 shares of the company's stock, valued at approximately $635,000.

Several other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in Victory Capital by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 47,626 shares of the company's stock valued at $2,638,000 after purchasing an additional 722 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Victory Capital by 3.2% during the third quarter. Victory Capital Management Inc. now owns 29,372 shares of the company's stock valued at $1,627,000 after acquiring an additional 919 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Victory Capital during the third quarter worth about $585,000. Charles Schwab Investment Management Inc. increased its position in shares of Victory Capital by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 454,330 shares of the company's stock worth $25,170,000 after acquiring an additional 100,614 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Victory Capital in the third quarter worth about $2,288,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VCTR shares. B. Riley restated a "neutral" rating and set a $60.00 price objective (up previously from $57.00) on shares of Victory Capital in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of Victory Capital from $62.00 to $69.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 18th. Barclays lifted their price target on shares of Victory Capital from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, February 10th. BMO Capital Markets increased their price objective on shares of Victory Capital from $73.00 to $82.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Finally, Morgan Stanley raised their price objective on shares of Victory Capital from $64.00 to $66.00 and gave the stock an "equal weight" rating in a report on Friday, December 20th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $68.33.

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Victory Capital Stock Performance

VCTR stock traded down $0.22 during trading on Tuesday, hitting $62.18. 230,101 shares of the company's stock traded hands, compared to its average volume of 373,488. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90. Victory Capital Holdings, Inc. has a 52 week low of $41.30 and a 52 week high of $73.42. The stock has a fifty day moving average price of $63.91 and a two-hundred day moving average price of $62.47. 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 (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.07. Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. As a group, equities analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were issued a $0.47 dividend. This is an increase from Victory Capital's previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a dividend yield of 3.02%. Victory Capital's dividend payout ratio (DPR) is 43.02%.

Victory Capital Company 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.