Victory Capital (NASDAQ:VCTR) Reaches New 1-Year High – What’s Next?

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.28 and last traded at $59.28, with a volume of 17801 shares. The stock had previously closed at $58.58.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. The Goldman Sachs Group raised their target price on Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America boosted their price target on Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. UBS Group lowered their price objective on shares of Victory Capital from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Barclays initiated coverage on Victory Capital in a report on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Victory Capital has an average rating of “Hold” and a consensus target price of $55.78.

Victory Capital Price Performance

The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.62 and a beta of 0.91. The business has a fifty day moving average price of $53.62 and a 200 day moving average price of $50.86. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91.

Victory Capital (NASDAQ:VCTR) last released its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The firm had revenue of $219.62 million for the quarter, compared to analyst estimates of $220.82 million. On average, research analysts expect that Victory Capital Holdings, Inc. will post 5.19 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 2.72%. Victory Capital’s dividend payout ratio is currently 46.20%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning bought a new stake in shares of Victory Capital during the 3rd quarter worth $476,000. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Victory Capital by 9.2% during the third quarter. Redhawk Wealth Advisors Inc. now owns 23,915 shares of the company’s stock valued at $1,325,000 after purchasing an additional 2,015 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Victory Capital in the 3rd quarter valued at $1,334,000. Annex Advisory Services LLC increased its stake in Victory Capital by 32.9% in the 3rd quarter. Annex Advisory Services LLC now owns 24,806 shares of the company’s stock worth $1,374,000 after purchasing an additional 6,139 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in Victory Capital during the 3rd quarter worth about $267,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.