Victory Capital (NASDAQ:VCTR) Stock Price Down 3.5% – Should You Sell?

Victory Capital Holdings, Inc. (NASDAQ:VCTR) shares dropped 3.5% during mid-day trading on Friday . The company traded as low as $69.52 and last traded at $69.54. Approximately 119,044 shares were traded during trading, a decline of 69% from the average daily volume of 386,777 shares. The stock had previously closed at $72.03.

Analysts Set New Price Targets

VCTR has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Victory Capital from $69.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Royal Bank of Canada boosted their price target on shares of Victory Capital from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. UBS Group increased their price objective on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Barclays upped their target price on Victory Capital from $59.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Victory Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Victory Capital Stock Performance

The company has a market capitalization of $4.54 billion, a PE ratio of 17.92, a PEG ratio of 0.63 and a beta of 0.90. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The business has a 50 day simple moving average of $61.18 and a 200 day simple moving average of $54.49.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.44 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, December 9th. This represents a $1.76 dividend on an annualized basis and a yield of 2.52%. Victory Capital’s dividend payout ratio is presently 40.80%.

Institutional Investors Weigh In On Victory Capital

A number of large investors have recently made changes to their positions in the stock. Swedbank AB grew its stake in Victory Capital by 7.1% during the 2nd quarter. Swedbank AB now owns 750,000 shares of the company’s stock valued at $35,798,000 after purchasing an additional 50,000 shares during the last quarter. Royce & Associates LP acquired a new position in Victory Capital in the 3rd quarter worth approximately $7,755,000. Boston Partners purchased a new position in Victory Capital during the 1st quarter worth approximately $995,000. Federated Hermes Inc. boosted its holdings in shares of Victory Capital by 54.1% in the 2nd quarter. Federated Hermes Inc. now owns 270,472 shares of the company’s stock valued at $12,910,000 after acquiring an additional 94,943 shares during the last quarter. Finally, Argent Capital Management LLC increased its stake in shares of Victory Capital by 10.1% in the second quarter. Argent Capital Management LLC now owns 103,352 shares of the company’s stock worth $4,933,000 after acquiring an additional 9,478 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

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.