Envestnet Asset Management Inc. Raises Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Envestnet Asset Management Inc. increased its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,684 shares of the company's stock after buying an additional 23,041 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.19% of Victory Capital worth $8,096,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Principal Securities Inc. raised its stake in Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company's stock valued at $39,000 after acquiring an additional 157 shares during the period. SBI Securities Co. Ltd. bought a new stake in Victory Capital in the 4th quarter valued at $43,000. FMR LLC raised its stake in Victory Capital by 18.1% in the 3rd quarter. FMR LLC now owns 1,341 shares of the company's stock valued at $74,000 after acquiring an additional 206 shares during the period. Convergence Investment Partners LLC bought a new stake in Victory Capital in the 4th quarter valued at $193,000. Finally, FourThought Financial Partners LLC bought a new position in Victory Capital during the 4th quarter worth $211,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Stock Up 2.0 %

Victory Capital stock traded up $1.14 during midday trading on Thursday, hitting $58.57. 46,737 shares of the stock were exchanged, compared to its average volume of 307,827. Victory Capital Holdings, Inc. has a 52-week low of $43.82 and a 52-week high of $73.42. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.55 and a beta of 0.86. The business's 50-day moving average price is $59.07 and its 200-day moving average price is $62.68. 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 earnings results on Thursday, February 6th. The company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.07. Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. On average, research analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.21%. This is a boost from Victory Capital's previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, February 18th. Victory Capital's payout ratio is presently 43.02%.

Analysts Set New Price Targets

Several research analysts have weighed in on VCTR shares. Bank of America lowered their price objective on Victory Capital from $89.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. JPMorgan Chase & Co. increased their price objective on Victory Capital from $62.00 to $69.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 18th. Barclays lowered their price objective on Victory Capital from $75.00 to $59.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets raised their price target on Victory Capital from $73.00 to $82.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Finally, B. Riley reaffirmed a "neutral" rating and issued a $60.00 price objective (up from $57.00) on shares of Victory Capital in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Victory Capital currently has an average rating of "Hold" and an average target price of $69.67.

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.