Principal Financial Group Inc. Buys 277,497 Shares of Victory Capital Holdings, Inc. $VCTR

Principal Financial Group Inc. increased its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 8,812.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,646 shares of the company’s stock after buying an additional 277,497 shares during the quarter. Principal Financial Group Inc. owned 0.42% of Victory Capital worth $18,175,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Amundi acquired a new stake in shares of Victory Capital during the 2nd quarter worth approximately $213,219,000. Geode Capital Management LLC boosted its stake in Victory Capital by 26.5% during the second quarter. Geode Capital Management LLC now owns 1,359,120 shares of the company’s stock worth $86,545,000 after buying an additional 285,137 shares in the last quarter. Basswood Capital Management L.L.C. increased its holdings in Victory Capital by 37.9% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 437,409 shares of the company’s stock valued at $27,850,000 after buying an additional 120,140 shares during the period. Kennedy Capital Management LLC bought a new stake in Victory Capital in the 2nd quarter valued at $6,592,000. Finally, Gabelli Funds LLC acquired a new position in shares of Victory Capital in the 2nd quarter valued at $5,969,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Analyst Ratings Changes

VCTR has been the topic of several analyst reports. Zacks Research lowered Victory Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price target on Victory Capital from $70.00 to $71.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Morgan Stanley dropped their price objective on Victory Capital from $70.00 to $69.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Victory Capital in a report on Wednesday, January 21st. Finally, Barclays set a $69.00 target price on shares of Victory Capital in a report on Friday. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Victory Capital currently has an average rating of “Moderate Buy” and an average price target of $75.11.

Victory Capital Price Performance

Shares of VCTR stock opened at $71.25 on Monday. Victory Capital Holdings, Inc. has a 52 week low of $47.00 and a 52 week high of $74.32. The stock has a market capitalization of $4.63 billion, a PE ratio of 17.51, a PEG ratio of 0.71 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.26 and a current ratio of 1.47. The stock’s fifty day moving average is $65.95 and its 200-day moving average is $66.55.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.12. The business had revenue of $374.12 million during the quarter, compared to analysts’ expectations of $371.09 million. Victory Capital had a return on equity of 21.86% and a net margin of 25.27%.The firm’s revenue for the quarter was up 61.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.45 earnings per share. Equities research analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, March 10th. Victory Capital’s dividend payout ratio is 48.16%.

About Victory Capital

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.