Cubist Systematic Strategies LLC Lowers Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Cubist Systematic Strategies LLC cut its holdings in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR – Get Rating) by 69.1% in the third quarter, HoldingsChannel.com reports. The firm owned 36,310 shares of the company’s stock after selling 81,280 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Victory Capital were worth $846,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in Victory Capital by 3.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 26,180 shares of the company’s stock valued at $610,000 after acquiring an additional 779 shares during the period. SG Americas Securities LLC boosted its stake in shares of Victory Capital by 15.2% in the 3rd quarter. SG Americas Securities LLC now owns 6,846 shares of the company’s stock valued at $160,000 after buying an additional 903 shares during the period. Keeley Teton Advisors LLC boosted its stake in shares of Victory Capital by 0.5% in the 2nd quarter. Keeley Teton Advisors LLC now owns 176,249 shares of the company’s stock valued at $4,248,000 after buying an additional 962 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Victory Capital during the 3rd quarter worth approximately $33,000. Finally, Legal & General Group Plc boosted its holdings in shares of Victory Capital by 37.8% in the 2nd quarter. Legal & General Group Plc now owns 6,361 shares of the company’s stock valued at $153,000 after buying an additional 1,746 shares in the last quarter. 85.95% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Stock Down 2.8 %

Victory Capital stock opened at $31.34 on Friday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 8.22 and a beta of 1.15. The company has a current ratio of 0.39, a quick ratio of 0.44 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average of $30.51 and a two-hundred day moving average of $28.66. Victory Capital Holdings, Inc. has a twelve month low of $22.22 and a twelve month high of $34.48.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 10th will be issued a dividend of $0.32 per share. The ex-dividend date is Thursday, March 9th. This is an increase from Victory Capital’s previous quarterly dividend of $0.25. This represents a $1.28 annualized dividend and a dividend yield of 4.08%. Victory Capital’s dividend payout ratio (DPR) is currently 26.25%.

Insider Activity at Victory Capital

In other news, insider Kelly Stevenson Cliff sold 12,500 shares of the firm’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $33.13, for a total value of $414,125.00. Following the completion of the sale, the insider now owns 431,422 shares in the company, valued at approximately $14,293,010.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kelly Stevenson Cliff sold 12,500 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $33.13, for a total transaction of $414,125.00. Following the completion of the transaction, the insider now directly owns 431,422 shares of the company’s stock, valued at approximately $14,293,010.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Craig Brown purchased 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was acquired at an average price of $27.01 per share, for a total transaction of $1,080,400.00. Following the completion of the purchase, the chief executive officer now owns 2,208,137 shares of the company’s stock, valued at $59,641,780.37. The disclosure for this purchase can be found here. 10.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on VCTR. Piper Sandler reduced their price target on shares of Victory Capital from $29.00 to $27.00 and set an “underweight” rating for the company in a research report on Monday, December 19th. B. Riley boosted their target price on Victory Capital from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, November 11th. Morgan Stanley raised their price target on Victory Capital from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 14th. Finally, Royal Bank of Canada boosted their price objective on Victory Capital from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.75.

About Victory Capital

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Victory Capital Holdings, Inc engages in the provision of investment management products and services to institutional and intermediary clients. The company sells and distributes its products through centralized distribution model, broker-dealers, retirement platforms, and registered investment advisor networks.