Victory Capital (NASDAQ:VCTR) Hits New 52-Week High on Analyst Upgrade

Key Points

• Victory Capital shares reached a 52-week high, trading around $125.46 after Barclays raised its price target from $121 to $126 while maintaining an equal-weight rating.
• Analyst sentiment remains mixed: the consensus rating is Hold, with an average price target of $119.50, below the recent share price.
• The company narrowly missed quarterly EPS and revenue expectations, reporting $1.98 per share and $396.57 million in revenue. It also declared a $0.50 quarterly dividend, equivalent to a 1.6% yield.

Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report) shares hit a new 52-week high on Monday after Barclays raised their price target on the stock from $121.00 to $126.00. Barclays currently has an equal weight rating on the stock. Victory Capital traded as high as $124.75 and last traded at $125.4560, with a volume of 45,458 shares trading hands. The stock had previously closed at $119.24.

Several other equities analysts have also commented on the company. Zacks Research lowered Victory Capital from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. JPMorgan Chase & Co. upped their target price on Victory Capital from $101.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, October 16th. Royal Bank Of Canada increased their price target on shares of Victory Capital from $107.00 to $118.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Victory Capital from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Victory Capital from $100.00 to $117.00 and gave the stock a "neutral" rating in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $119.50.

Institutional Investors Weigh In On Victory Capital

Several institutional investors have recently bought and sold shares of VCTR. Nykredit A S bought a new stake in shares of Victory Capital during the second quarter valued at approximately $26,000. CENTRAL TRUST Co raised its holdings in Victory Capital by 51.1% in the third quarter. CENTRAL TRUST Co now owns 281 shares of the company's stock worth $31,000 after purchasing an additional 95 shares in the last quarter. Gen Wealth Partners Inc bought a new position in Victory Capital in the third quarter worth $33,000. Root Financial Partners LLC purchased a new position in Victory Capital during the third quarter valued at $34,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Victory Capital during the second quarter valued at $44,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Trading Up 5.7%

The stock has a market cap of $7.76 billion, a P/E ratio of 23.07, a PEG ratio of 0.55 and a beta of 1.12. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The stock's fifty day moving average price is $110.79 and its 200 day moving average price is $90.33.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.99 by ($0.01). The business had revenue of $396.57 million for the quarter, compared to analysts' expectations of $411.23 million. Victory Capital had a net margin of 28.58% and a return on equity of 24.37%. Equities research analysts expect that Victory Capital Holdings, Inc. will post 7.78 earnings per share for the current year.

Victory Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Thursday, December 10th will be paid a $0.50 dividend. The ex-dividend date is Thursday, December 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.6%. Victory Capital's dividend payout ratio is presently 36.76%.

About Victory Capital

Victory Capital Holdings, Inc is an investment management firm that provides services to institutional investors, financial intermediaries and individual investors. Its offerings include mutual funds, exchange-traded funds, separately managed accounts and other investment strategies across a range of asset classes.

Founded in 2013 and headquartered in San Antonio, Texas, the company operates through a group of investment franchises with distinct investment approaches. Victory Capital serves clients in the United States and internationally.

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