Victory Capital (NASDAQ:VCTR) Announces Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Key Points

• Victory Capital reported quarterly earnings of $1.57 EPS, surpassing analyst expectations by $0.10, with revenue reaching $351.21 million, reflecting a 59.9% year-over-year increase.
• The company declared a quarterly dividend of $0.49 per share, representing a 2.8% yield, with investors of record set for distribution on September 10.
• Brokerage ratings for Victory Capital vary, with five analysts issuing a "buy" rating and others giving a "hold" or "neutral" stance, contributing to a consensus price target of $72.22.

Victory Capital (NASDAQ:VCTR - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.10, Briefing.com reports. The firm had revenue of $351.21 million during the quarter, compared to the consensus estimate of $348.89 million. Victory Capital had a return on equity of 34.06% and a net margin of 27.18%. The business's revenue for the quarter was up 59.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS.

Victory Capital Price Performance

VCTR traded up $3.36 during trading on Friday, reaching $70.48. 763,836 shares of the company were exchanged, compared to its average volume of 1,045,676. The company's 50-day moving average is $65.52 and its two-hundred day moving average is $62.60. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 0.75 and a beta of 1.04. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.84. Victory Capital has a 12-month low of $46.90 and a 12-month high of $73.42.

Victory Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.96 dividend on an annualized basis and a yield of 2.8%. Victory Capital's dividend payout ratio is 43.65%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VCTR. Wall Street Zen downgraded Victory Capital from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Royal Bank Of Canada upped their price objective on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. UBS Group reduced their price objective on Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Barclays upped their price objective on Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $72.22.

Institutional Trading of Victory Capital

A number of institutional investors have recently added to or reduced their stakes in VCTR. Jane Street Group LLC purchased a new stake in Victory Capital during the 1st quarter worth about $3,747,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Victory Capital by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company's stock worth $5,688,000 after purchasing an additional 9,319 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Victory Capital by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company's stock worth $21,199,000 after purchasing an additional 5,685 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Victory Capital by 18.8% during the 1st quarter. Intech Investment Management LLC now owns 20,442 shares of the company's stock worth $1,183,000 after purchasing an additional 3,237 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Victory Capital by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company's stock valued at $1,416,000 after acquiring an additional 1,060 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company's stock.

About Victory Capital

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.

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