Victory Capital (NASDAQ:VCTR) Sees Large Volume Increase After Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR) saw unusually-high trading volume on Wednesday after Morgan Stanley raised their price target on the stock from $30.00 to $32.00. Morgan Stanley currently has an underweight rating on the stock. Approximately 209,405 shares changed hands during mid-day trading, a decline of 41% from the previous session’s volume of 356,613 shares.The stock last traded at $44.72 and had previously closed at $44.62.

Several other equities research analysts have also recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $48.00 target price (up previously from $40.00) on shares of Victory Capital in a research note on Friday, February 16th. UBS Group lifted their target price on shares of Victory Capital from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. BMO Capital Markets lifted their target price on shares of Victory Capital from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Victory Capital by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,348 shares of the company’s stock valued at $9,113,000 after buying an additional 59,503 shares during the period. Brandywine Global Investment Management LLC raised its holdings in Victory Capital by 12.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 199,926 shares of the company’s stock valued at $6,666,000 after buying an additional 21,612 shares during the period. Fiera Capital Corp purchased a new stake in Victory Capital in the 3rd quarter valued at about $2,409,000. Bank of New York Mellon Corp raised its holdings in Victory Capital by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 545,269 shares of the company’s stock valued at $18,179,000 after buying an additional 22,192 shares during the period. Finally, Windmill Hill Asset Management Ltd raised its holdings in Victory Capital by 54.0% in the 4th quarter. Windmill Hill Asset Management Ltd now owns 33,043 shares of the company’s stock valued at $1,138,000 after buying an additional 11,592 shares during the period. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Stock Performance

The stock has a market capitalization of $2.95 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The firm’s fifty day moving average is $40.29 and its 200-day moving average is $35.32. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.94.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.02. The firm had revenue of $205.80 million for the quarter, compared to analyst estimates 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 was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 EPS. As a group, research analysts anticipate that Victory Capital Holdings, Inc. will post 5.02 earnings per share for the current year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a dividend of $0.335 per share. The ex-dividend date was Friday, March 8th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 2.92%. Victory Capital’s dividend payout ratio is 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.