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

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets boosted their target price on Victory Capital from $61.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their target price on Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Morgan Stanley raised Victory Capital from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $40.00 to $60.00 in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their target price on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

Victory Capital Trading Up 6.4 %

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 business’s 50 day moving average is $56.35 and its 200 day moving average is $52.61. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 0.63 and a beta of 0.90.

Victory Capital (NASDAQ:VCTR) last issued its earnings results 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 net margin of 27.87% and a return on equity of 29.74%. The firm had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. As a group, equities analysts expect that Victory Capital Holdings, Inc. will post 5.18 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.53%. 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 currently 46.20%.

Institutional Investors Weigh In On Victory Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors raised its holdings in shares of Victory Capital by 85.8% in the first quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock valued at $94,278,000 after buying an additional 1,025,954 shares during the last quarter. Swedbank AB raised its holdings in Victory Capital by 7.1% during the second quarter. Swedbank AB now owns 750,000 shares of the company’s stock worth $35,798,000 after purchasing an additional 50,000 shares in the last quarter. Sei Investments Co. raised its holdings in Victory Capital by 106.7% during the first quarter. Sei Investments Co. now owns 113,254 shares of the company’s stock worth $4,805,000 after purchasing an additional 58,458 shares in the last quarter. Inspire Investing LLC purchased a new position in Victory Capital during the first quarter worth about $884,000. Finally, Acadian Asset Management LLC raised its holdings in Victory Capital by 73.0% during the first quarter. Acadian Asset Management LLC now owns 416,120 shares of the company’s stock worth $17,649,000 after purchasing an additional 175,576 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other 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.