Victory Capital (NASDAQ:VCTR) Sets New 12-Month High – Here’s Why

Victory Capital Holdings, Inc. (NASDAQ:VCTR)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $95.42 and last traded at $94.8960, with a volume of 33209 shares changing hands. The stock had previously closed at $91.98.

Analysts Set New Price Targets

A number of research analysts have recently commented on VCTR shares. Wall Street Zen upgraded Victory Capital from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of Victory Capital from $72.00 to $81.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Victory Capital in a research report on Monday, April 20th. Zacks Research upgraded shares of Victory Capital from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price target on shares of Victory Capital in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.43.

Victory Capital Trading Up 1.4%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50 day simple moving average is $86.96 and its 200 day simple moving average is $75.93. The stock has a market cap of $6.19 billion, a P/E ratio of 22.31, a PEG ratio of 1.18 and a beta of 1.09.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.19. The company had revenue of $387.99 million for the quarter, compared to analyst estimates of $364.97 million. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The company’s revenue was up 76.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.36 EPS. On average, analysts expect that Victory Capital Holdings, Inc. will post 7.26 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.50 per share. This is an increase from Victory Capital’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, June 10th. Victory Capital’s dividend payout ratio is currently 45.05%.

Institutional Investors Weigh In On Victory Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its position in shares of Victory Capital by 19,350.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Core Wealth Advisors LLC bought a new stake in Victory Capital during the fourth quarter worth about $30,000. Covestor Ltd increased its holdings in shares of Victory Capital by 99.7% during the fourth quarter. Covestor Ltd now owns 669 shares of the company’s stock worth $42,000 after buying an additional 334 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Victory Capital during the first quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Victory Capital by 48.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock valued at $48,000 after acquiring an additional 246 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

About Victory Capital

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.