Bank of Montreal Can Sells 25,772 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of Montreal Can lessened its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 69.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,374 shares of the company’s stock after selling 25,772 shares during the period. Bank of Montreal Can’s holdings in Victory Capital were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sei Investments Co. boosted its holdings in shares of Victory Capital by 47.6% during the 2nd quarter. Sei Investments Co. now owns 167,162 shares of the company’s stock valued at $7,979,000 after purchasing an additional 53,908 shares during the last quarter. Kendall Capital Management raised its position in shares of Victory Capital by 0.8% during the 2nd quarter. Kendall Capital Management now owns 94,949 shares of the company’s stock valued at $4,532,000 after buying an additional 737 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Victory Capital during the 2nd quarter valued at about $1,063,000. Amalgamated Bank raised its position in shares of Victory Capital by 50.7% during the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after buying an additional 479 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Victory Capital by 10.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,800 shares of the company’s stock valued at $420,000 after buying an additional 832 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on VCTR shares. JPMorgan Chase & Co. upped their target price on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. UBS Group reduced their price objective on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada reduced their price objective on shares of Victory Capital from $56.00 to $55.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Barclays assumed coverage on shares of Victory Capital in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $53.78.

Victory Capital Price Performance

NASDAQ VCTR opened at $57.00 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s 50 day moving average price is $52.60 and its 200-day moving average price is $50.30. Victory Capital Holdings, Inc. has a 52-week low of $28.66 and a 52-week high of $58.02. The company has a market cap of $3.70 billion, a PE ratio of 17.48, a P/E/G ratio of 0.61 and a beta of 0.91.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. Sell-side analysts forecast that Victory Capital Holdings, Inc. will post 5.19 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a $0.41 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio (DPR) is currently 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.