Financial Performance - Victory Capital reported total client assets of $176.1 billion and assets under management (AUM) of $171.9 billion as of December 31, 2024[14]. - The company achieved record adjusted earnings per diluted share of $1.45, a 23.5% increase compared to $1.15 in the same quarter last year[20]. - Revenue for the fourth quarter increased by 12.9% to $232.4 million, driven by higher average AUM[19]. - Adjusted EBITDA for the fourth quarter rose 16.7% to $125.5 million, with an adjusted EBITDA margin of 54.0%[21]. - For the year ended December 31, 2024, revenue increased by 8.8% to $893.5 million compared to $821.0 million in 2023[22]. - GAAP net income for the fourth quarter was $76.9 million, a decrease of 6.2% from the previous quarter[17]. - Net income for the three months ended December 31, 2024, was $76.9 million, compared to $55.2 million for the same period last year, marking a 39.3% increase[37]. - Basic earnings per share for the year ended December 31, 2024, was $4.47, up from $3.22 in 2023, indicating a 39.0% growth[37]. - Operating margin for the three months ended December 31, 2024, was 48.1%, compared to 41.9% in the same period last year[37]. Client Flows and AUM - The company experienced long-term net outflows of $1.7 billion during the fourth quarter, with total gross flows of $6.8 billion[9]. - Total assets under management reached $171.9 billion, with total client assets at $176.1 billion as of December 31, 2024[27]. - For the year ended December 31, 2024, gross client cash inflows totaled $26.167 billion, compared to $23.504 billion in 2023, reflecting a growth of approximately 11.2%[48]. - The net client cash flows for the year ended December 31, 2024, were $(7.377) billion, a decline from $(5.976) billion in 2023, indicating a worsening outflow situation[48]. - Gross client cash inflows for the three months ended December 31, 2024, were $6.793 billion, while gross client cash outflows were $8.663 billion, resulting in net client cash flows of -$1.870 billion[61]. Dividends and Share Repurchase - The board authorized a new $200 million share repurchase program and a 7% increase in the quarterly cash dividend to $0.47 per share[7]. - The company declared dividends of $0.44 per share for the three months ended December 31, 2024, an increase from $0.32 in the same period last year[37]. Strategic Initiatives - The company is on track to close the acquisition of Amundi's U.S. business by the end of Q1 2025, expecting $100 million in expense synergies[5]. - The company is focused on expanding its investment strategies and integrating new acquisitions to enhance growth potential[32]. - Future outlook includes navigating geopolitical uncertainties and achieving expected synergies from the proposed transaction with Amundi[32]. - The company emphasizes the importance of maintaining historical returns and sustaining growth amidst market challenges[32]. Market Conditions and Asset Management - Market appreciation for the year ended December 31, 2024, was $18.100 billion, down from $21.188 billion in 2023, showing a decrease of about 14.5%[48]. - Market depreciation for the same period was $2.237 billion, contributing to the overall decline in AUM[61]. - The ending AUM as of December 31, 2024, was $171.930 billion, compared to $161.322 billion at the end of 2023, representing an increase of approximately 6.5%[48]. - The company’s AUM from ETFs was reported at $52.375 billion as of December 31, 2024[60]. Financial Position - The company’s total liabilities decreased to $1.425 billion as of December 31, 2024, from $1.490 billion in the previous year[42]. - Cash and cash equivalents increased to $126.731 million as of December 31, 2024, compared to $123.547 million at the end of 2023[42]. - The company’s retained earnings rose to $924.600 million as of December 31, 2024, up from $736.852 million in the previous year, reflecting a growth of 25.5%[42].

Core Insights - Victory Capital Holdings (VCTR) is currently viewed as a more attractive investment option compared to SEI Investments (SEIC) for value investors due to its stronger Zacks Rank and favorable valuation metrics [3][7]. Valuation Metrics - VCTR has a forward P/E ratio of 10.01, significantly lower than SEIC's forward P/E of 16.73, indicating that VCTR may be undervalued [5]. - The PEG ratio for VCTR is 0.48, while SEIC's PEG ratio stands at 1.39, suggesting that VCTR offers better value relative to its expected earnings growth [5]. - VCTR's P/B ratio is 3.50 compared to SEIC's P/B of 4.48, further supporting the notion that VCTR is undervalued [6]. Analyst Outlook - VCTR is experiencing an improving earnings outlook, which enhances its attractiveness in the Zacks Rank model, indicating a positive trend in analyst estimates [7].

Core Insights - Victory Capital Holdings, Inc. (VCTR) has announced its largest share repurchase program, authorizing up to $200 million in buybacks through December 31, 2026, which reflects the company's strategy to manage capital and enhance shareholder returns [8][10] - The company has a strong history of dividend payments, having increased its dividend 12 times in the last five years, with a current dividend yield of 2.8% based on a closing price of $62.59 as of December 19, 2024 [2][9] - VCTR's shares have outperformed the industry, gaining 29.4% over the past six months compared to the industry's growth of 24.3% [10] Share Repurchase Program - The new repurchase program follows the completion of a previous $100 million repurchase program announced in December 2023, which was completed ahead of its deadline [1] - The authorization for the new program is effective immediately and will continue through December 31, 2026, allowing the company to remain flexible and opportunistic with its capital [4][10] Dividend Distribution Activities - In November 2024, VCTR announced a 7% increase in its quarterly dividend, raising it to 44 cents per share, with the payout scheduled for December 23 to shareholders of record as of December 9, 2024 [9] Price Performance and Zacks Rank - VCTR currently holds a Zacks Rank 2 (Buy), indicating positive market sentiment towards the stock [3] Future Outlook - Supported by strong cash flow and earnings, VCTR is expected to continue efficient capital distribution activities, which will help drive investor confidence in the stock [11]

Company Overview - Victory Capital Holdings (VCTR) currently has a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting a favorable outlook for investors [3] Performance Metrics - VCTR shares have increased by 1.64% over the past week, outperforming the Zacks Financial - Investment Management industry, which rose by 0.68% [6] - Over the past month, VCTR's price change is 17.37%, significantly higher than the industry's 6.1% [6] - In the last quarter, VCTR shares have surged by 33.69%, and over the past year, they have gained 112.42%, while the S&P 500 has only increased by 7.45% and 33.18%, respectively [7] Trading Volume - The average 20-day trading volume for VCTR is 543,377 shares, which serves as a bullish indicator when combined with rising stock prices [8] Earnings Outlook - In the past two months, four earnings estimates for VCTR have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $5.24 to $5.32 [10] - For the next fiscal year, four estimates have also moved upwards without any downward revisions [10] Conclusion - Given the strong performance metrics and positive earnings outlook, VCTR is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment option [11]

Core Viewpoint - Victory Capital Holdings (VCTR) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily based on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2]. - The Zacks rating upgrade for Victory Capital reflects a positive outlook on its earnings, likely leading to favorable stock price movements [4][6]. Impact of Earnings Estimates on Stock Prices - Changes in future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements, influenced by institutional investors [5]. - Rising earnings estimates for Victory Capital indicate an improvement in the company's underlying business, which is expected to drive the stock price higher [6]. Importance of Earnings Estimate Revisions - Empirical research shows a strong correlation between earnings estimate revisions and stock movements, making tracking these revisions beneficial for investment decisions [7]. - The Zacks Rank system effectively utilizes earnings estimate revisions to classify stocks into five groups, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. Specific Earnings Estimates for Victory Capital - Victory Capital is projected to earn $5.32 per share for the fiscal year ending December 2024, representing an 18% year-over-year increase [9]. - Over the past three months, the Zacks Consensus Estimate for Victory Capital has increased by 1.1% [9]. Zacks Rating System Overview - The Zacks rating system maintains a balanced distribution of 'buy' and 'sell' ratings across its universe of over 4000 stocks, with only the top 5% receiving a 'Strong Buy' rating [10]. - Being in the top 20% of Zacks-covered stocks indicates superior earnings estimate revision characteristics, positioning Victory Capital for potential market-beating returns [11][12].

Victory Capital Holdings, Inc. (VCTR) reported assets under management (AUM) of $172.3 billion for October 2024. This reflected a 2.1% decline from $176.1 billion as of Sept. 30, 2024.By asset class, VCTR’s U.S. Mid Cap Equity AUM decreased 3.2% from the September level to $31.3 billion. The U.S. Small Cap Equity AUM of $15.2 billion dipped 2.3%. The Global/Non-U.S. Equity AUM declined 3.2% to $19.1 billion. The U.S. Large Cap Equity AUM decreased 1.4% to $14.03 billion.Further, Victory Capital recorded $61 ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Victory Capital Holdings, Inc. (Exact name of registrant as specified in its charter) (Mark One) FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-38388 Delaware 32-040295 ...

For the quarter ended September 2024, Victory Capital Holdings (VCTR) reported revenue of $225.63 million, up 7.6% over the same period last year. EPS came in at $1.35, compared to $1.18 in the year-ago quarter.The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $225.75 million. With the consensus EPS estimate being $1.35, the company has not delivered EPS surprise.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

Core Viewpoint - Victory Capital Holdings reported quarterly earnings of $1.35 per share, matching the Zacks Consensus Estimate and showing an increase from $1.18 per share a year ago [1] - The company posted revenues of $225.63 million for the quarter ended September 2024, slightly missing the Zacks Consensus Estimate by 0.05% and up from $209.69 million year-over-year [2] Financial Performance - The earnings surprise for the previous quarter was 1.55%, with actual earnings of $1.31 per share against an expected $1.29 [1] - Over the last four quarters, the company has surpassed consensus EPS estimates three times [1] - The company has topped consensus revenue estimates only once in the last four quarters [2] Stock Performance - Victory Capital shares have increased approximately 88.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 24.3% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.36, with expected revenues of $227.78 million, and for the current fiscal year, the estimate is $5.25 on revenues of $886.47 million [7] - The estimate revisions trend for Victory Capital is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Financial - Investment Management industry, to which Victory Capital belongs, is currently in the top 10% of over 250 Zacks industries, suggesting a favorable outlook [8]