Fifth Third Bancorp Purchases 21,317 Shares of Victory Capital Holdings, Inc. $VCTR

Fifth Third Bancorp raised its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 1,586.1% during the first quarter, HoldingsChannel.com reports. The firm owned 22,661 shares of the company’s stock after purchasing an additional 21,317 shares during the period. Fifth Third Bancorp’s holdings in Victory Capital were worth $1,484,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VCTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Victory Capital by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company’s stock valued at $1,416,000 after buying an additional 1,060 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Victory Capital by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company’s stock worth $21,199,000 after buying an additional 5,685 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Victory Capital by 10.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company’s stock worth $5,688,000 after buying an additional 9,319 shares during the period. Jane Street Group LLC bought a new stake in shares of Victory Capital during the 1st quarter worth approximately $3,747,000. Finally, Intech Investment Management LLC lifted its stake in shares of Victory Capital by 18.8% during the 1st quarter. Intech Investment Management LLC now owns 20,442 shares of the company’s stock worth $1,183,000 after acquiring an additional 3,237 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VCTR. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a report on Friday, July 17th. Morgan Stanley increased their target price on Victory Capital from $76.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Barclays lifted their target price on Victory Capital from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group started coverage on shares of Victory Capital in a report on Tuesday, June 2nd. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Victory Capital from $72.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Victory Capital has an average rating of “Moderate Buy” and an average price target of $89.14.

Victory Capital Stock Performance

VCTR stock opened at $96.49 on Friday. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.12 and a beta of 1.09. The firm has a 50-day simple moving average of $88.37 and a two-hundred day simple moving average of $77.38. Victory Capital Holdings, Inc. has a one year low of $57.03 and a one year high of $102.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.13.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The firm’s revenue was up 76.7% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. On average, equities analysts forecast that Victory Capital Holdings, Inc. will post 7.38 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.1%. This is a positive change from Victory Capital’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, June 10th. Victory Capital’s dividend payout ratio is 45.05%.

Victory Capital Company Profile

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.