Victory Capital (NASDAQ:VCTR) Hits New 52-Week High on Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR) reached a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $121.00 to $126.00. Barclays currently has an equal weight rating on the stock. Victory Capital traded as high as $124.75 and last traded at $125.4560, with a volume of 45,458 shares. The stock had previously closed at $119.24.

VCTR has been the subject of several other research reports. Royal Bank Of Canada lifted their price target on Victory Capital from $107.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Victory Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. UBS Group set a $117.00 target price on shares of Victory Capital in a report on Friday, August 28th. JPMorgan Chase & Co. upped their target price on shares of Victory Capital from $101.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, October 16th. Finally, Morgan Stanley increased their price target on shares of Victory Capital from $115.00 to $119.00 and gave the company an “equal weight” rating in a report on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $119.50.

Hedge Funds Weigh In On Victory Capital

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of Victory Capital during the 2nd quarter valued at about $42,035,000. Dimensional Fund Advisors LP raised its holdings in shares of Victory Capital by 14.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company’s stock valued at $114,163,000 after purchasing an additional 221,471 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Victory Capital during the third quarter valued at approximately $17,429,000. Bank of America Corp DE lifted its position in Victory Capital by 12.4% during the first quarter. Bank of America Corp DE now owns 1,007,405 shares of the company’s stock valued at $65,965,000 after purchasing an additional 111,063 shares during the period. Finally, Fulcrum Asset Management LLP lifted its position in Victory Capital by 547.3% during the third quarter. Fulcrum Asset Management LLP now owns 127,265 shares of the company’s stock valued at $14,050,000 after purchasing an additional 107,605 shares during the period. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Victory Capital Trading Up 5.7%

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s 50-day moving average is $110.79 and its two-hundred day moving average is $90.33. The company has a market cap of $7.76 billion, a P/E ratio of 23.07, a P/E/G ratio of 0.55 and a beta of 1.12.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Wednesday, November 4th. The company reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.01). The company had revenue of $396.57 million for the quarter, compared to analysts’ expectations of $411.23 million. Victory Capital had a net margin of 28.58% and a return on equity of 24.37%. As a group, equities research analysts predict that Victory Capital Holdings, Inc. will post 7.78 earnings per share for the current fiscal year.

Victory Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Thursday, December 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Victory Capital’s payout ratio is presently 36.76%.

About Victory Capital

Victory Capital Holdings, Inc is an investment management firm that provides services to institutional investors, financial intermediaries and individual investors. Its offerings include mutual funds, exchange-traded funds, separately managed accounts and other investment strategies across a range of asset classes.

Founded in 2013 and headquartered in San Antonio, Texas, the company operates through a group of investment franchises with distinct investment approaches. Victory Capital serves clients in the United States and internationally.