PNC Financial Services Group Inc. Acquires 7,756 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

PNC Financial Services Group Inc. raised its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 650.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,948 shares of the company's stock after acquiring an additional 7,756 shares during the period. PNC Financial Services Group Inc.'s holdings in Victory Capital were worth $586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. World Investment Advisors LLC acquired a new position in shares of Victory Capital in the 3rd quarter valued at $918,000. Geode Capital Management LLC lifted its position in Victory Capital by 10.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company's stock worth $57,446,000 after buying an additional 101,247 shares in the last quarter. McIlrath & Eck LLC bought a new stake in Victory Capital during the 3rd quarter worth about $565,000. Bank of Montreal Can raised its holdings in shares of Victory Capital by 282.0% in the 3rd quarter. Bank of Montreal Can now owns 43,453 shares of the company's stock valued at $2,412,000 after purchasing an additional 32,079 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in Victory Capital in the third quarter valued at approximately $2,288,000. Institutional investors own 87.71% of the company's stock.

Victory Capital Trading Down 0.6 %

Shares of VCTR stock traded down $0.38 during trading hours on Friday, hitting $59.87. 684,809 shares of the company were exchanged, compared to its average volume of 373,656. The company has a 50 day simple moving average of $63.90 and a two-hundred day simple moving average of $62.26. Victory Capital Holdings, Inc. has a fifty-two week low of $41.30 and a fifty-two week high of $73.42. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $3.81 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.55 and a beta of 0.90.

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Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were given a $0.47 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.88 annualized dividend and a yield of 3.14%. This is an increase from Victory Capital's previous quarterly dividend of $0.44. Victory Capital's dividend payout ratio (DPR) is presently 43.02%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. B. Riley reiterated 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. Morgan Stanley increased their price objective on shares of Victory Capital from $64.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Friday, December 20th. Barclays increased their target price on shares of Victory Capital from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their target price on shares of Victory Capital from $62.00 to $69.00 and gave the stock a "neutral" rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets raised their price objective on shares of Victory Capital from $73.00 to $82.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Victory Capital presently has a consensus rating of "Hold" and a consensus target price of $68.33.

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.