Horizon Investment Services LLC Cuts Stock Holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Horizon Investment Services LLC trimmed its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,257 shares of the company’s stock after selling 4,157 shares during the period. Horizon Investment Services LLC’s holdings in Victory Capital were worth $475,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VCTR. Franklin Resources Inc. raised its position in shares of Victory Capital by 113.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,980,019 shares of the company’s stock valued at $115,990,000 after purchasing an additional 1,051,459 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Victory Capital in the fourth quarter valued at $17,755,000. TimesSquare Capital Management LLC grew its position in Victory Capital by 20.5% during the 4th quarter. TimesSquare Capital Management LLC now owns 976,161 shares of the company’s stock worth $63,899,000 after purchasing an additional 166,265 shares during the period. Bahl & Gaynor Inc. raised its stake in shares of Victory Capital by 10.9% during the 4th quarter. Bahl & Gaynor Inc. now owns 1,557,425 shares of the company’s stock valued at $101,949,000 after buying an additional 153,459 shares during the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in shares of Victory Capital by 599.7% in the 4th quarter. Annex Advisory Services LLC now owns 173,562 shares of the company’s stock valued at $11,361,000 after buying an additional 148,756 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Price Performance

NASDAQ:VCTR opened at $57.44 on Friday. The stock has a 50 day moving average of $63.54 and a two-hundred day moving average of $62.55. Victory Capital Holdings, Inc. has a 12 month low of $41.30 and a 12 month high of $73.42. The firm has a market cap of $3.66 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.07. Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. On average, analysts expect that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.27%. Victory Capital’s payout ratio is presently 43.02%.

Analysts Set New Price Targets

Several analysts recently commented on VCTR shares. Morgan Stanley raised their target price on Victory Capital from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Barclays raised their price objective on shares of Victory Capital from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, February 10th. BMO Capital Markets boosted their target price on shares of Victory Capital from $73.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. B. Riley restated a “neutral” rating and set a $60.00 price target (up previously from $57.00) on shares of Victory Capital in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Victory Capital from $62.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.33.

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.