Victory Capital (NASDAQ:VCTR) Sets New 1-Year High – Here’s Why

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) reached a new 52-week high during trading on Wednesday . The stock traded as high as $61.97 and last traded at $61.82, with a volume of 21649 shares changing hands. The stock had previously closed at $61.21.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Morgan Stanley upgraded Victory Capital from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $40.00 to $60.00 in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Barclays started coverage on shares of Victory Capital in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Victory Capital Price Performance

The company has a 50 day moving average price of $55.70 and a 200-day moving average price of $52.07. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 0.63 and a beta of 0.91. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.04. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. The firm had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. As a group, equities research analysts predict that Victory Capital Holdings, Inc. will post 5.18 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Tuesday, September 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s payout ratio is 50.31%.

Hedge Funds Weigh In On Victory Capital

A number of hedge funds have recently made changes to their positions in VCTR. Vanguard Group Inc. increased its position in Victory Capital by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 3,212,173 shares of the company’s stock valued at $110,627,000 after purchasing an additional 104,746 shares during the period. Diversified Trust Co raised its stake in Victory Capital by 13.6% during the first quarter. Diversified Trust Co now owns 14,160 shares of the company’s stock worth $601,000 after buying an additional 1,695 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Victory Capital by 88.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,105 shares of the company’s stock valued at $853,000 after buying an additional 9,450 shares during the period. Legacy Wealth Asset Management LLC boosted its position in Victory Capital by 48.1% during the first quarter. Legacy Wealth Asset Management LLC now owns 24,306 shares of the company’s stock valued at $1,031,000 after acquiring an additional 7,891 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Victory Capital by 43.2% during the 1st quarter. Principal Financial Group Inc. now owns 39,623 shares of the company’s stock worth $1,681,000 after acquiring an additional 11,949 shares during the period. 87.71% of the stock is currently owned by 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.