Victory Capital (NASDAQ:VCTR) Sets New 12-Month High – What’s Next?

Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during trading on Wednesday . The company traded as high as $62.00 and last traded at $62.00, with a volume of 1162 shares traded. The stock had previously closed at $60.89.

Analysts Set New Price Targets

Several analysts recently weighed in on VCTR shares. BMO Capital Markets lifted their price target on Victory Capital from $61.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America lifted their price objective on Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Morgan Stanley raised Victory Capital from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $60.00 in a research note on Friday, October 18th. Royal Bank of Canada lifted their price objective on Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Barclays assumed coverage on 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.67.

Victory Capital Trading Up 6.4 %

The firm has a market cap of $4.20 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.90. The stock has a fifty day simple moving average of $56.35 and a 200 day simple moving average of $52.61. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current 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 for the quarter, beating the consensus estimate of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The company had revenue of $219.62 million for the quarter, compared to the consensus estimate of $220.82 million. On average, research analysts expect that Victory Capital Holdings, Inc. will post 5.18 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 10th. Victory Capital’s payout ratio is 46.20%.

Institutional Investors Weigh In On Victory Capital

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Victory Capital by 16.4% during the first quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock worth $158,661,000 after buying an additional 527,190 shares during the period. Capital World Investors lifted its holdings in Victory Capital by 85.8% during the first quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock worth $94,278,000 after buying an additional 1,025,954 shares during the period. LSV Asset Management increased its position in shares of Victory Capital by 2.7% during the second quarter. LSV Asset Management now owns 1,294,722 shares of the company’s stock worth $61,797,000 after purchasing an additional 34,000 shares in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Victory Capital by 8.5% during the second quarter. Bahl & Gaynor Inc. now owns 1,205,601 shares of the company’s stock worth $57,543,000 after purchasing an additional 94,653 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its position in shares of Victory Capital by 12.7% during the first quarter. TimesSquare Capital Management LLC now owns 825,747 shares of the company’s stock worth $35,036,000 after purchasing an additional 93,176 shares in the last quarter. 87.71% of the stock is owned by institutional investors.

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.