Cornercap Investment Counsel Inc. Trims Holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Cornercap Investment Counsel Inc. decreased its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 53.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,519 shares of the company’s stock after selling 9,809 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Victory Capital were worth $472,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in Victory Capital by 85.8% in the first quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock worth $94,278,000 after acquiring an additional 1,025,954 shares in the last quarter. Swedbank AB grew its holdings in Victory Capital by 7.1% in the second quarter. Swedbank AB now owns 750,000 shares of the company’s stock valued at $35,798,000 after purchasing an additional 50,000 shares during the period. Sei Investments Co. grew its holdings in Victory Capital by 106.7% in the first quarter. Sei Investments Co. now owns 113,254 shares of the company’s stock valued at $4,805,000 after purchasing an additional 58,458 shares during the period. Acadian Asset Management LLC grew its holdings in Victory Capital by 73.0% in the first quarter. Acadian Asset Management LLC now owns 416,120 shares of the company’s stock valued at $17,649,000 after purchasing an additional 175,576 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Victory Capital in the first quarter valued at approximately $1,431,000. Institutional investors own 87.71% of the company’s stock.

Wall Street Analyst Weigh In

VCTR has been the topic of a number of research analyst reports. Bank of America lifted their price target on Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lifted their price target on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. UBS Group boosted their price objective on Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their price objective on Victory Capital from $69.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Morgan Stanley boosted their price objective on Victory Capital from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.67.

Victory Capital Trading Down 0.5 %

VCTR opened at $63.20 on Friday. Victory Capital Holdings, Inc. has a one year low of $31.18 and a one year high of $70.56. The company has a market cap of $4.10 billion, a P/E ratio of 15.72, a PEG ratio of 0.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 1.19. The business’s 50-day simple moving average is $58.25 and its 200-day simple moving average is $53.40.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s dividend payout ratio (DPR) is currently 40.80%.

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.