Victory Capital (NASDAQ:VCTR) Hits New 1-Year High Following Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report) reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $32.00 to $39.00. Morgan Stanley currently has an underweight rating on the stock. Victory Capital traded as high as $54.15 and last traded at $54.15, with a volume of 1978 shares changing hands. The stock had previously closed at $52.14.

VCTR has been the topic of several other reports. Royal Bank of Canada raised their price objective on Victory Capital from $47.00 to $56.00 and gave the stock an "outperform" rating in a report on Tuesday. B. Riley lifted their price objective on Victory Capital from $48.00 to $57.00 and gave the company a "buy" rating in a report on Friday, April 19th. JPMorgan Chase & Co. increased their target price on shares of Victory Capital from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday. UBS Group boosted their price target on shares of Victory Capital from $37.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, April 22nd. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $57.00 price objective (up from $55.00) on shares of Victory Capital in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Victory Capital presently has an average rating of "Hold" and a consensus target price of $49.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VCTR. SG Americas Securities LLC purchased a new position in shares of Victory Capital in the 3rd quarter valued at approximately $156,000. Raymond James & Associates lifted its stake in shares of Victory Capital by 37.1% during the third quarter. Raymond James & Associates now owns 21,098 shares of the company's stock worth $703,000 after buying an additional 5,713 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Victory Capital by 4.2% during the third quarter. Bank of New York Mellon Corp now owns 545,269 shares of the company's stock valued at $18,179,000 after buying an additional 22,192 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Victory Capital by 64.1% in the 3rd quarter. New York State Teachers Retirement System now owns 2,461 shares of the company's stock valued at $82,000 after acquiring an additional 961 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Victory Capital by 102.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,100 shares of the company's stock worth $237,000 after acquiring an additional 3,597 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Trading Down 0.2 %

The stock has a 50-day simple moving average of $45.64 and a 200 day simple moving average of $38.13. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.92. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.45 and a beta of 0.92.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.84%. The ex-dividend date is Monday, June 10th. This is an increase from Victory Capital's previous quarterly dividend of $0.34. Victory Capital's dividend payout ratio is 41.10%.

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.