Victory Capital (NASDAQ:VCTR) Trading Up 8.3% on Strong Earnings

Victory Capital Holdings, Inc. (NASDAQ:VCTR)’s share price rose 8.3% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $70.75 and last traded at $71.12. Approximately 78,956 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 287,367 shares. The stock had previously closed at $65.64.

The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.37 by $0.07. Victory Capital had a return on equity of 29.92% and a net margin of 30.82%.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a yield of 2.66%. This is an increase from Victory Capital’s previous quarterly dividend of $0.44. Victory Capital’s dividend payout ratio is currently 40.27%.

Analysts Set New Price Targets

A number of brokerages have issued reports on VCTR. BMO Capital Markets increased their price target on Victory Capital from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Royal Bank of Canada boosted their price target on shares of Victory Capital from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on shares of Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. B. Riley reaffirmed a “neutral” rating and issued a $60.00 price target (up from $57.00) on shares of Victory Capital in a research note on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on shares of Victory Capital from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.11.

Institutional Investors Weigh In On Victory Capital

A number of large investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. raised its holdings in shares of Victory Capital by 53.2% during the 3rd quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after acquiring an additional 199 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Victory Capital by 367.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock worth $32,000 after acquiring an additional 452 shares during the period. Principal Securities Inc. grew its stake in shares of Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Victory Capital in the 4th quarter valued at approximately $43,000. Finally, USA Financial Formulas grew its stake in shares of Victory Capital by 157.9% in the 3rd quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after buying an additional 676 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Stock Performance

The firm’s 50 day moving average price is $65.43 and its two-hundred day moving average price is $59.77. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $4.59 billion, a PE ratio of 17.56, a PEG ratio of 0.56 and a beta of 0.89.

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.