Argent Capital Management LLC Grows Stock Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Argent Capital Management LLC increased its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,709 shares of the company’s stock after purchasing an additional 5,357 shares during the quarter. Argent Capital Management LLC owned 0.17% of Victory Capital worth $6,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after acquiring an additional 564 shares during the period. Contravisory Investment Management Inc. raised its holdings in Victory Capital by 53.2% during the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after purchasing an additional 199 shares in the last quarter. USA Financial Formulas lifted its position in Victory Capital by 157.9% in the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after purchasing an additional 676 shares during the period. Amalgamated Bank boosted its holdings in Victory Capital by 50.7% in the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after purchasing an additional 479 shares in the last quarter. Finally, nVerses Capital LLC increased its position in Victory Capital by 200.0% during the 2nd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock worth $129,000 after purchasing an additional 1,800 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on VCTR. UBS Group raised their price target on Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America boosted their target price on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada increased their price target on shares of Victory Capital from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Morgan Stanley upgraded shares of Victory Capital from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $40.00 to $60.00 in a research note on Friday, October 18th. Finally, Barclays started coverage on shares of Victory Capital in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.67.

Victory Capital Price Performance

VCTR traded up $1.02 during midday trading on Thursday, reaching $59.02. 44,000 shares of the company’s stock were exchanged, compared to its average volume of 379,320. The business’s 50-day moving average price is $55.08 and its 200 day moving average price is $51.55. The stock has a market capitalization of $3.83 billion, a PE ratio of 16.34, a P/E/G ratio of 0.65 and a beta of 0.91. Victory Capital Holdings, Inc. has a 1-year low of $28.66 and a 1-year high of $61.68. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91.

Victory Capital (NASDAQ:VCTR) last posted its earnings results 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. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The firm had revenue of $219.62 million for the quarter, compared to analyst estimates of $220.82 million. As a group, equities analysts anticipate that Victory Capital Holdings, Inc. will post 5.18 EPS for the current fiscal year.

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $0.41 dividend. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.64 annualized dividend and a yield of 2.78%. Victory Capital’s payout ratio is presently 46.20%.

Victory Capital Company 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.