Victory Capital (NASDAQ:VCTR) Sets New 52-Week High on Earnings Beat

Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $81.29 and last traded at $81.26, with a volume of 525989 shares traded. The stock had previously closed at $78.16.

The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.19. Victory Capital had a return on equity of 21.99% and a net margin of 25.79%.The company had revenue of $387.99 million during the quarter, compared to the consensus estimate of $364.97 million. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The firm’s revenue was up 76.7% compared to the same quarter last year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, June 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Victory Capital’s dividend payout ratio (DPR) is currently 48.16%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Victory Capital from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, April 20th. Barclays set a $85.00 target price on Victory Capital in a research note on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Victory Capital in a report on Monday, April 20th. Wall Street Zen cut Victory Capital from a “buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Morgan Stanley set a $76.00 target price on shares of Victory Capital in a report on Friday, May 1st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of Victory Capital by 8,812.2% during the 3rd quarter. Principal Financial Group Inc. now owns 280,646 shares of the company’s stock valued at $18,175,000 after buying an additional 277,497 shares during the last quarter. AlphaQuest LLC lifted its holdings in Victory Capital by 192.1% during the third quarter. AlphaQuest LLC now owns 21,698 shares of the company’s stock valued at $1,405,000 after purchasing an additional 14,269 shares during the last quarter. Aurora Investment Counsel purchased a new stake in Victory Capital during the third quarter valued at about $2,205,000. Rhumbline Advisers boosted its position in Victory Capital by 93.8% during the third quarter. Rhumbline Advisers now owns 128,360 shares of the company’s stock worth $8,313,000 after purchasing an additional 62,119 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Victory Capital during the third quarter worth about $4,140,000. 87.71% of the stock is owned by institutional investors.

Victory Capital Price Performance

The firm’s 50 day moving average price is $70.35 and its two-hundred day moving average price is $67.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market cap of $5.36 billion, a PE ratio of 18.85, a P/E/G ratio of 1.19 and a beta of 1.09.

Victory Capital Company Profile

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.