Victory Capital (NASDAQ:VCTR) Hits New 52-Week High – Time to Buy?

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day trading on Tuesday . The company 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 Analyst Weigh In

VCTR has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Victory Capital from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Barclays assumed coverage on shares of Victory Capital in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective 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 upped their price target on Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley boosted their target price on shares of Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Victory Capital presently has a consensus rating of “Hold” and an average target price of $55.78.

Victory Capital Stock Performance

The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.62 and a beta of 0.91. 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 firm has a fifty day moving average of $53.62 and a 200 day moving average of $50.86.

Victory Capital (NASDAQ:VCTR) last issued 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. The business had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. As a group, sell-side analysts forecast that Victory Capital Holdings, Inc. will post 5.19 EPS for the current year.

Victory Capital Increases Dividend

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

Institutional Trading of Victory Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors grew its position in Victory Capital by 85.8% in the first quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock worth $94,278,000 after acquiring an additional 1,025,954 shares during the period. Swedbank AB purchased a new position in shares of Victory Capital during the 1st quarter worth $29,701,000. Vanguard Group Inc. increased its position in shares of Victory Capital by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock worth $158,661,000 after purchasing an additional 527,190 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Victory Capital by 426.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock valued at $20,310,000 after purchasing an additional 477,798 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Victory Capital by 35.0% in the first quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock valued at $47,138,000 after purchasing an additional 288,280 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Company Profile

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.