Principal Financial Group Inc. Acquires 722 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Principal Financial Group Inc. lifted its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,626 shares of the company’s stock after acquiring an additional 722 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Victory Capital worth $2,638,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Franklin Resources Inc. lifted its stake in Victory Capital by 113.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,980,019 shares of the company’s stock valued at $115,990,000 after purchasing an additional 1,051,459 shares during the last quarter. Royce & Associates LP acquired a new position in shares of Victory Capital during the 3rd quarter worth approximately $7,755,000. Geode Capital Management LLC raised its stake in Victory Capital by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company’s stock valued at $57,446,000 after acquiring an additional 101,247 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Victory Capital by 28.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,330 shares of the company’s stock valued at $25,170,000 after purchasing an additional 100,614 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Victory Capital by 54.1% during the second quarter. Federated Hermes Inc. now owns 270,472 shares of the company’s stock worth $12,910,000 after purchasing an additional 94,943 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Victory Capital from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Barclays boosted their price objective on Victory Capital from $59.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. The Goldman Sachs Group increased their target price on Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Royal Bank of Canada raised their price target on shares of Victory Capital from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley raised their price target on Victory Capital from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Victory Capital currently has a consensus rating of “Moderate Buy” and an average price target of $64.67.

Victory Capital Price Performance

VCTR opened at $66.05 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19. The firm’s fifty day moving average price is $65.60 and its two-hundred day moving average price is $57.16. Victory Capital Holdings, Inc. has a 1 year low of $32.55 and a 1 year high of $73.42. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.59 and a beta of 0.89.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 9th were issued a dividend of $0.44 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Monday, December 9th. Victory Capital’s dividend payout ratio (DPR) is 43.78%.

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.