Victory Capital (NASDAQ:VCTR) Sets New 12-Month High After Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR)’s stock price hit a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $37.00 to $48.00. UBS Group currently has a neutral rating on the stock. Victory Capital traded as high as $48.00 and last traded at $48.00, with a volume of 1005 shares trading hands. The stock had previously closed at $47.47.

Other research analysts have also recently issued reports about the company. Morgan Stanley raised their price objective on Victory Capital from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. B. Riley raised their price objective on Victory Capital from $48.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, April 19th. BMO Capital Markets raised their price objective on Victory Capital from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada raised their price objective on Victory Capital from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Victory Capital presently has a consensus rating of “Hold” and a consensus target price of $45.43.

Institutional Trading of Victory Capital

Several institutional investors and hedge funds have recently bought and sold shares of VCTR. Blue Trust Inc. lifted its holdings in shares of Victory Capital by 93.5% during the fourth quarter. Blue Trust Inc. now owns 1,246 shares of the company’s stock valued at $41,000 after purchasing an additional 602 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Victory Capital by 64.1% during the third quarter. New York State Teachers Retirement System now owns 2,461 shares of the company’s stock valued at $82,000 after acquiring an additional 961 shares in the last quarter. Amalgamated Bank increased its position in shares of Victory Capital by 13.5% during the third quarter. Amalgamated Bank now owns 4,063 shares of the company’s stock valued at $135,000 after acquiring an additional 482 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Victory Capital during the third quarter valued at approximately $156,000. Finally, Olympiad Research LP increased its position in shares of Victory Capital by 6.0% during the third quarter. Olympiad Research LP now owns 6,910 shares of the company’s stock valued at $230,000 after acquiring an additional 394 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Stock Up 3.5 %

The company has a market cap of $3.26 billion, a P/E ratio of 16.18, a P/E/G ratio of 0.42 and a beta of 1.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.66. The company’s 50-day moving average is $40.74 and its two-hundred day moving average is $35.58.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $205.80 million during the quarter, compared to the consensus estimate of $204.20 million. Victory Capital had a net margin of 25.96% and a return on equity of 28.70%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, equities analysts predict that Victory Capital Holdings, Inc. will post 5.13 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Victory Capital’s previous quarterly dividend of $0.32. Victory Capital’s payout ratio is 42.81%.

Victory Capital Company 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.