Seven Eight Capital LP Buys Shares of 22,269 Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Seven Eight Capital LP purchased a new position in Victory Capital Holdings, Inc. (NASDAQ:VCTR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 22,269 shares of the company’s stock, valued at approximately $1,063,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CWM LLC raised its position in Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after buying an additional 564 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Victory Capital by 50.7% during the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after purchasing an additional 479 shares during the last quarter. nVerses Capital LLC lifted its position in Victory Capital by 200.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after purchasing an additional 1,800 shares during the period. Picton Mahoney Asset Management purchased a new stake in Victory Capital in the second quarter worth approximately $156,000. Finally, Rothschild Investment LLC bought a new stake in Victory Capital in the 2nd quarter worth approximately $202,000. 87.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on VCTR shares. The Goldman Sachs Group increased their price target on Victory Capital from $53.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. UBS Group dropped their target price on Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays started coverage on Victory Capital in a research note 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 objective on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.67.

Victory Capital Trading Down 0.3 %

Shares of NASDAQ:VCTR opened at $55.15 on Friday. The stock has a 50 day moving average of $51.84 and a 200 day moving average of $48.86. The company has a market cap of $3.58 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 0.58 and a beta of 0.91. Victory Capital Holdings, Inc. has a 12-month low of $28.66 and a 12-month high of $55.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87.

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

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Tuesday, September 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio is presently 50.31%.

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.