Kingsview Wealth Management LLC Makes New $2.29 Million Investment in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Kingsview Wealth Management LLC purchased a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,303 shares of the company's stock, valued at approximately $2,288,000. Kingsview Wealth Management LLC owned about 0.06% of Victory Capital at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB grew its stake in shares of Victory Capital by 7.1% during the 2nd quarter. Swedbank AB now owns 750,000 shares of the company's stock worth $35,798,000 after acquiring an additional 50,000 shares during the period. Royce & Associates LP purchased a new stake in shares of Victory Capital in the 3rd quarter valued at about $7,755,000. Russell Investments Group Ltd. purchased a new stake in shares of Victory Capital in the 1st quarter valued at about $1,431,000. Boston Partners purchased a new stake in shares of Victory Capital in the 1st quarter valued at about $995,000. Finally, 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 acquiring an additional 94,943 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors.

Victory Capital Trading Up 1.3 %

VCTR stock traded up $0.90 during midday trading on Tuesday, hitting $71.97. The company had a trading volume of 324,857 shares, compared to its average volume of 387,297. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84. Victory Capital Holdings, Inc. has a 52 week low of $31.18 and a 52 week high of $72.33. The stock's 50 day moving average price is $60.13 and its 200 day moving average price is $54.07. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.60 and a beta of 0.90.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.45%. This is a positive change from Victory Capital's previous quarterly dividend of $0.41. The ex-dividend date is Monday, December 9th. Victory Capital's payout ratio is 40.80%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VCTR shares. Royal Bank of Canada raised their price target on Victory Capital from $61.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, November 14th. Barclays raised their price objective on Victory Capital from $59.00 to $69.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Morgan Stanley raised their price objective on Victory Capital from $60.00 to $64.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. UBS Group raised their price objective on Victory Capital from $49.00 to $64.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets raised their price objective on Victory Capital from $69.00 to $71.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Victory Capital has a consensus rating of "Moderate Buy" and an average target price of $63.67.

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.