Lazard Asset Management LLC Acquires 152,433 Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Lazard Asset Management LLC lifted its holdings in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 2,335.8% during the first quarter, HoldingsChannel.com reports. The firm owned 158,959 shares of the company’s stock after purchasing an additional 152,433 shares during the period. Lazard Asset Management LLC’s holdings in Victory Capital were worth $6,743,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Victory Capital by 93.5% during the 4th quarter. Blue Trust Inc. now owns 1,246 shares of the company’s stock worth $41,000 after buying an additional 602 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Victory Capital in the first quarter valued at about $205,000. Janney Montgomery Scott LLC bought a new stake in Victory Capital during the first quarter worth about $231,000. Foundry Partners LLC acquired a new position in Victory Capital during the first quarter valued at approximately $232,000. Finally, Horizon Investment Services LLC bought a new position in Victory Capital in the first quarter valued at approximately $277,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Stock Performance

VCTR opened at $53.65 on Monday. The firm has a market cap of $3.47 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 0.61 and a beta of 0.93. The business’s fifty day moving average is $50.36 and its 200-day moving average is $44.54. Victory Capital Holdings, Inc. has a 52-week low of $28.66 and a 52-week high of $54.94. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.71 and a current ratio of 0.71.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings results on Thursday, May 9th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $215.86 million during the quarter, compared to the consensus estimate of $219.14 million. Victory Capital had a net margin of 26.28% and a return on equity of 29.23%. Sell-side analysts expect that Victory Capital Holdings, Inc. will post 5.13 EPS for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were paid a $0.37 dividend. This is a positive change from Victory Capital’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, June 10th. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. Victory Capital’s dividend payout ratio (DPR) is presently 45.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Bank of America dropped their price objective on Victory Capital from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. UBS Group decreased their price objective on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. B. Riley boosted their price target on Victory Capital from $48.00 to $57.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. raised their price objective on Victory Capital from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $57.00 target price (up from $55.00) on shares of Victory Capital in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.57.

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.