Principal Financial Group Inc. Purchases 11,949 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Principal Financial Group Inc. grew its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 43.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,623 shares of the company’s stock after buying an additional 11,949 shares during the quarter. Principal Financial Group Inc.’s holdings in Victory Capital were worth $1,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of VCTR. Goldman Sachs Group Inc. lifted its position in shares of Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock worth $20,310,000 after buying an additional 477,798 shares in the last quarter. Granahan Investment Management LLC raised its holdings in shares of Victory Capital by 22.0% in the 4th quarter. Granahan Investment Management LLC now owns 1,213,589 shares of the company’s stock worth $41,796,000 after purchasing an additional 219,025 shares during the period. Vanguard Group Inc. raised its holdings in shares of Victory Capital by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,107,427 shares of the company’s stock worth $103,602,000 after purchasing an additional 191,957 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Victory Capital by 582.1% in the 4th quarter. Teacher Retirement System of Texas now owns 179,266 shares of the company’s stock worth $6,174,000 after purchasing an additional 152,984 shares during the period. Finally, Rainwater Charitable Foundation bought a new stake in shares of Victory Capital in the 4th quarter worth approximately $4,702,000. Institutional investors own 87.71% of the company’s stock.

Victory Capital Price Performance

NASDAQ:VCTR traded down $0.73 during midday trading on Friday, hitting $47.71. The company had a trading volume of 56,652 shares, compared to its average volume of 416,368. Victory Capital Holdings, Inc. has a 52-week low of $28.66 and a 52-week high of $54.94. The stock’s fifty day moving average price is $50.49 and its 200-day moving average price is $42.50. The company has a market capitalization of $3.09 billion, a PE ratio of 14.86, a P/E/G ratio of 0.52 and a beta of 0.93. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.92.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Thursday, May 9th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Victory Capital had a net margin of 26.28% and a return on equity of 29.23%. The company had revenue of $215.86 million during the quarter, compared to analyst estimates of $219.14 million. As a group, research analysts expect that Victory Capital Holdings, Inc. will post 5.21 earnings per share for the current year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were paid a dividend of $0.37 per share. This is a boost from Victory Capital’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Monday, June 10th. Victory Capital’s dividend payout ratio (DPR) is 45.40%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on VCTR. UBS Group lifted their price target on shares of Victory Capital from $37.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. B. Riley boosted their target price on shares of Victory Capital from $48.00 to $57.00 and gave the company a “buy” rating in a report on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on shares of Victory Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Royal Bank of Canada boosted their target price on shares of Victory Capital from $47.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Finally, Morgan Stanley boosted their target price on shares of Victory Capital from $32.00 to $39.00 and gave the company an “underweight” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.57.

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.