Victory Capital (NASDAQ:VCTR) Reaches New 1-Year High at $56.29

Victory Capital Holdings, Inc. (NASDAQ:VCTR) reached a new 52-week high during trading on Monday . The company traded as high as $56.29 and last traded at $56.26, with a volume of 9713 shares trading hands. The stock had previously closed at $55.15.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 13th. UBS Group dropped their price target on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada lowered their price objective on shares of Victory Capital from $56.00 to $55.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Barclays initiated coverage on Victory Capital in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Victory Capital presently has a consensus rating of “Hold” and a consensus price target of $53.67.

Victory Capital Trading Down 1.0 %

The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.60 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. The company has a 50-day moving average price of $51.94 and a 200 day moving average price of $49.21.

Victory Capital (NASDAQ:VCTR) last released its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The company had revenue of $219.62 million for the quarter, compared to analysts’ expectations of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. As a group, research analysts anticipate that Victory Capital Holdings, Inc. will post 5.19 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio (DPR) is 50.31%.

Institutional Trading of Victory Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Truist Financial Corp increased its position in Victory Capital by 11.1% in the 2nd quarter. Truist Financial Corp now owns 22,278 shares of the company’s stock worth $1,063,000 after purchasing an additional 2,220 shares during the last quarter. Scientech Research LLC acquired a new position in Victory Capital in the second quarter worth approximately $582,000. Mackenzie Financial Corp bought a new position in Victory Capital during the second quarter valued at approximately $346,000. The Manufacturers Life Insurance Company lifted its stake in Victory Capital by 27.5% in the second quarter. The Manufacturers Life Insurance Company now owns 26,450 shares of the company’s stock valued at $1,262,000 after acquiring an additional 5,697 shares during the last quarter. Finally, Dark Forest Capital Management LP grew its position in Victory Capital by 43.2% in the second quarter. Dark Forest Capital Management LP now owns 35,850 shares of the company’s stock worth $1,711,000 after acquiring an additional 10,819 shares in the last quarter. 87.71% of the stock is currently 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.