Franklin Resources Inc. Boosts Stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Franklin Resources Inc. raised its position in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 113.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,980,019 shares of the company’s stock after purchasing an additional 1,051,459 shares during the period. Franklin Resources Inc.’s holdings in Victory Capital were worth $115,990,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. increased its stake in Victory Capital by 53.2% in the 3rd quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock valued at $32,000 after buying an additional 199 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Victory Capital by 367.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock valued at $32,000 after buying an additional 452 shares during the last quarter. CWM LLC increased its stake in Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after buying an additional 564 shares during the last quarter. USA Financial Formulas increased its stake in Victory Capital by 157.9% in the 3rd quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after buying an additional 676 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Victory Capital during the 3rd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Analyst Ratings Changes

VCTR has been the subject of a number of research reports. Royal Bank of Canada increased their target price on shares of Victory Capital from $61.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, November 14th. Barclays raised their price objective on shares of Victory Capital from $59.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on shares of Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. UBS Group raised their price target on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Victory Capital presently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Victory Capital Trading Down 2.5 %

NASDAQ:VCTR opened at $64.30 on Monday. The company’s 50 day moving average price is $63.71 and its 200-day moving average price is $55.65. Victory Capital Holdings, Inc. has a 52 week low of $32.55 and a 52 week high of $73.42. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.59 and a beta of 0.89.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a dividend of $0.44 per share. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, December 9th. This represents a $1.76 dividend on an annualized basis and a yield of 2.74%. Victory Capital’s dividend payout ratio is 43.78%.

Victory Capital 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.