Victory Capital (NASDAQ:VCTR) Reaches New 1-Year High Following Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day trading on Monday after B. Riley raised their price target on the stock from $48.00 to $57.00. B. Riley currently has a buy rating on the stock. Victory Capital traded as high as $48.00 and last traded at $48.00, with a volume of 1005 shares changing hands. The stock had previously closed at $47.47.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets raised their price target on shares of Victory Capital from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. UBS Group raised their price target on shares of Victory Capital from $33.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Royal Bank of Canada raised their price target on shares of Victory Capital from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley raised their price target on shares of Victory Capital from $30.00 to $32.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.71.

Institutional Trading of Victory Capital

Several hedge funds have recently added to or reduced their stakes in VCTR. Bank of New York Mellon Corp raised its position in shares of Victory Capital by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 230,872 shares of the company’s stock valued at $6,665,000 after purchasing an additional 15,601 shares during the period. US Bancorp DE raised its position in shares of Victory Capital by 50.0% in the first quarter. US Bancorp DE now owns 9,000 shares of the company’s stock valued at $260,000 after purchasing an additional 3,000 shares during the period. Bank of Montreal Can raised its position in shares of Victory Capital by 32.9% in the first quarter. Bank of Montreal Can now owns 34,499 shares of the company’s stock valued at $1,026,000 after purchasing an additional 8,535 shares during the period. BlackRock Inc. raised its position in shares of Victory Capital by 33.7% in the first quarter. BlackRock Inc. now owns 630,415 shares of the company’s stock valued at $18,201,000 after purchasing an additional 159,042 shares during the period. Finally, LSV Asset Management raised its position in shares of Victory Capital by 2.8% in the first quarter. LSV Asset Management now owns 473,454 shares of the company’s stock valued at $13,669,000 after purchasing an additional 12,820 shares during the period. Institutional investors own 87.71% of the company’s stock.

Victory Capital Trading Up 1.1 %

The firm’s 50-day moving average price is $40.50 and its 200-day moving average price is $35.47. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.09 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.42 and a beta of 1.00.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.13 EPS 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 analysts’ expectations of $204.20 million. Victory Capital had a net margin of 25.96% and a return on equity of 28.70%. Victory Capital’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, March 8th. This is a boost from Victory Capital’s previous quarterly dividend of $0.32. Victory Capital’s payout ratio is currently 42.81%.

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.