Federated Hermes Inc. Purchases 94,943 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Federated Hermes Inc. increased its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 54.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 270,472 shares of the company’s stock after buying an additional 94,943 shares during the quarter. Federated Hermes Inc. owned 0.42% of Victory Capital worth $12,910,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of VCTR. CWM LLC grew its holdings in shares of Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after buying an additional 564 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Victory Capital by 200.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock worth $129,000 after buying an additional 1,800 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Victory Capital during the second quarter worth about $156,000. Rothschild Investment LLC bought a new position in shares of Victory Capital during the second quarter worth about $202,000. Finally, ProShare Advisors LLC bought a new position in shares of Victory Capital during the first quarter worth about $205,000. 87.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Victory Capital from $56.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Barclays began coverage on Victory Capital in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 price target for the company. Bank of America increased their price target on Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, UBS Group reduced their price target on Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.67.

Victory Capital Stock Performance

VCTR opened at $53.39 on Tuesday. Victory Capital Holdings, Inc. has a 12-month low of $28.66 and a 12-month high of $55.16. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.56 and a beta of 0.91. The business has a 50 day moving average of $51.26 and a 200-day moving average of $48.44. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $219.62 million during the quarter, compared to analysts’ expectations of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. On average, equities research analysts expect that Victory Capital Holdings, Inc. will post 5.19 earnings per share for the current year.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.41 per share. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, September 10th. Victory Capital’s dividend payout ratio (DPR) is presently 50.31%.

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.