State Street Corp Grows Stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

State Street Corp grew its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 6.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,162,842 shares of the company's stock after buying an additional 69,654 shares during the period. State Street Corp owned approximately 1.79% of Victory Capital worth $64,421,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of VCTR. HighTower Advisors LLC lifted its holdings in shares of Victory Capital by 4.2% in the third quarter. HighTower Advisors LLC now owns 9,351 shares of the company's stock valued at $520,000 after purchasing an additional 377 shares in the last quarter. Edgestream Partners L.P. bought a new position in Victory Capital in the 3rd quarter worth about $2,941,000. Hantz Financial Services Inc. grew its stake in Victory Capital by 153.5% during the third quarter. Hantz Financial Services Inc. now owns 43,836 shares of the company's stock valued at $2,429,000 after acquiring an additional 26,545 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Victory Capital by 53.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,154 shares of the company's stock worth $673,000 after buying an additional 4,217 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Victory Capital by 37.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 22,240 shares of the company's stock valued at $1,232,000 after acquiring an additional 6,036 shares during the last quarter. Institutional investors own 87.71% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on VCTR shares. UBS Group boosted their target price on Victory Capital from $49.00 to $64.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on Victory Capital from $61.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Morgan Stanley upped their price target on shares of Victory Capital from $60.00 to $64.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. The Goldman Sachs Group lifted their price target on shares of Victory Capital from $60.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Barclays increased their price target on shares of Victory Capital from $59.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $64.44.

Victory Capital Trading Up 2.3 %

NASDAQ:VCTR traded up $1.40 during mid-day trading on Thursday, hitting $62.59. 605,410 shares of the stock traded hands, compared to its average volume of 393,566. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.59 and a beta of 0.89. Victory Capital Holdings, Inc. has a 52 week low of $32.55 and a 52 week high of $73.42. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The firm's 50 day moving average is $64.08 and its two-hundred day moving average is $55.85.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, December 9th. This represents a $1.76 annualized dividend and a dividend yield of 2.81%. This is an increase from Victory Capital's previous quarterly dividend of $0.41. Victory Capital's dividend payout ratio is 43.78%.

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.