Victory Capital (NASDAQ:VCTR) Sets New 52-Week High – Still a Buy?

Victory Capital Holdings, Inc. (NASDAQ:VCTRGet Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $90.22 and last traded at $90.2550, with a volume of 246038 shares. The stock had previously closed at $87.74.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VCTR shares. The Goldman Sachs Group began coverage on shares of Victory Capital in a research note on Tuesday, June 2nd. They set a “neutral” rating and a $90.00 price objective for the company. Morgan Stanley lifted their price objective on Victory Capital from $76.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. upped their target price on Victory Capital from $72.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Victory Capital in a report on Tuesday, May 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Victory Capital in a report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.00.

Check Out Our Latest Research Report on Victory Capital

Victory Capital Stock Down 1.5%

The business has a fifty day moving average of $85.18 and a 200 day moving average of $74.69. The company has a market capitalization of $5.51 billion, a PE ratio of 19.84, a PEG ratio of 0.95 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41.

Victory Capital (NASDAQ:VCTRGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $387.99 million for the quarter, compared to the consensus estimate of $364.97 million. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The firm’s revenue for the quarter was up 76.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 EPS. Equities research analysts anticipate that Victory Capital Holdings, Inc. will post 7.21 EPS for the current year.

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. This is a positive change from Victory Capital’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Wednesday, June 10th. Victory Capital’s dividend payout ratio is 45.05%.

Hedge Funds Weigh In On Victory Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VCTR. Impax Asset Management Group plc increased its holdings in shares of Victory Capital by 8.3% in the fourth quarter. Impax Asset Management Group plc now owns 650,000 shares of the company’s stock valued at $41,008,000 after purchasing an additional 50,000 shares during the period. WINTON GROUP Ltd purchased a new position in Victory Capital during the 3rd quarter worth $4,140,000. Vanguard Group Inc. lifted its stake in shares of Victory Capital by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,814,857 shares of the company’s stock worth $303,769,000 after acquiring an additional 73,142 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of Victory Capital by 5.6% in the fourth quarter. Annex Advisory Services LLC now owns 574,699 shares of the company’s stock valued at $36,258,000 after acquiring an additional 30,621 shares in the last quarter. Finally, Magnetar Financial LLC increased its stake in shares of Victory Capital by 502.5% during the third quarter. Magnetar Financial LLC now owns 61,280 shares of the company’s stock worth $3,968,000 after acquiring an additional 51,109 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

About Victory Capital

(Get Free Report)

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.

Further Reading

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