Victory Capital (NASDAQ:VCTR) Reaches New 12-Month High – Time to Buy?

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.08 and last traded at $57.96, with a volume of 52932 shares. The stock had previously closed at $57.00.

Analyst Upgrades and Downgrades

VCTR has been the subject of several research reports. UBS Group cut their price target on Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada cut their target price on shares of Victory Capital from $56.00 to $55.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Bank of America increased their price target on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Morgan Stanley lifted their price objective on Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their price target on Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.78.

Victory Capital Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.61 and a beta of 0.91. The firm’s 50-day moving average is $52.60 and its 200 day moving average is $50.30.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.30 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 business had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. Sell-side analysts anticipate 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 given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, September 10th. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio is 50.31%.

Institutional Investors Weigh In On Victory Capital

Several institutional investors have recently bought and sold shares of the business. Amalgamated Bank lifted its holdings in shares of Victory Capital by 50.7% during the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after acquiring an additional 479 shares in the last quarter. CWM LLC lifted its stake in shares of Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock worth $32,000 after purchasing an additional 564 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of Victory Capital by 0.9% during the second quarter. Fiera Capital Corp now owns 73,974 shares of the company’s stock worth $3,531,000 after purchasing an additional 644 shares in the last quarter. USA Financial Formulas boosted its position in shares of Victory Capital by 157.9% in the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock worth $61,000 after buying an additional 676 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of Victory Capital by 7.7% in the second quarter. QRG Capital Management Inc. now owns 9,911 shares of the company’s stock valued at $473,000 after buying an additional 709 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.