7,017 Shares in Victory Capital Holdings, Inc. (NASDAQ:VCTR) Bought by Summit Global Investments

Posted by Defense World Staff on Oct 2nd, 2023

Summit Global Investments bought a new position in Victory Capital Holdings, Inc. (NASDAQ:VCTR – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,017 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in shares of Victory Capital by 7.2% during the 1st quarter. Bank of New York Mellon Corp now owns 230,872 shares of the company’s stock valued at $6,665,000 after buying an additional 15,601 shares during the last quarter. US Bancorp DE grew its position in shares of Victory Capital by 50.0% during the 1st quarter. US Bancorp DE now owns 9,000 shares of the company’s stock valued at $260,000 after acquiring an additional 3,000 shares during the period. Bank of Montreal Can grew its position in shares of Victory Capital by 32.9% during the 1st quarter. Bank of Montreal Can now owns 34,499 shares of the company’s stock valued at $1,026,000 after acquiring an additional 8,535 shares during the period. BlackRock Inc. grew its position in shares of Victory Capital by 33.7% during the 1st quarter. BlackRock Inc. now owns 630,415 shares of the company’s stock valued at $18,201,000 after acquiring an additional 159,042 shares during the period. Finally, LSV Asset Management grew its position in shares of Victory Capital by 2.8% during the 1st quarter. LSV Asset Management now owns 473,454 shares of the company’s stock valued at $13,669,000 after acquiring an additional 12,820 shares during the period. Hedge funds and other institutional investors own 73.50% of the company’s stock.

Insider Buying and Selling at Victory Capital

In other Victory Capital news, CEO David Craig Brown sold 20,757 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $33.55, for a total value of $696,397.35. Following the completion of the transaction, the chief executive officer now directly owns 2,054,534 shares of the company’s stock, valued at $68,929,615.70. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 146,814 shares of company stock valued at $4,937,739. Corporate insiders own 9.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Victory Capital from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. BMO Capital Markets boosted their target price on Victory Capital from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Bank of America boosted their target price on Victory Capital from $39.00 to $46.00 in a research report on Monday, August 7th. Finally, Morgan Stanley upped their price objective on Victory Capital from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Victory Capital currently has an average rating of “Moderate Buy” and a consensus price target of $38.14.

Check Out Our Latest Report on VCTR

Victory Capital Stock Performance

NASDAQ VCTR opened at $33.34 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.42 and a quick ratio of 0.42. Victory Capital Holdings, Inc. has a 1 year low of $22.78 and a 1 year high of $34.97. The company has a market capitalization of $2.19 billion, a PE ratio of 10.13, a P/E/G ratio of 0.93 and a beta of 1.11. The company has a fifty day moving average of $33.47 and a two-hundred day moving average of $31.91.

Victory Capital (NASDAQ:VCTR – Get Free Report) last announced its earnings results on Thursday, August 3rd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $204.23 million during the quarter, compared to analysts’ expectations of $205.11 million. Victory Capital had a net margin of 28.36% and a return on equity of 28.85%. As a group, analysts expect that Victory Capital Holdings, Inc. will post 4.52 earnings per share for the current year.

Victory Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Monday, September 11th were issued a $0.32 dividend. The ex-dividend date was Friday, September 8th. This represents a $1.28 dividend on an annualized basis and a yield of 3.84%. Victory Capital’s dividend payout ratio (DPR) is presently 38.91%.

About Victory Capital

(Free Report)

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.