Victory Capital (NASDAQ:VCTR) Announces Quarterly Earnings Results

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) released its earnings results on Thursday, August 7th. The company reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.10, Briefing.com reports. Victory Capital had a net margin of 27.18% and a return on equity of 26.46%. The company had revenue of $351.21 million during the quarter, compared to the consensus estimate of $348.89 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The company's revenue was up 59.9% compared to the same quarter last year.

Victory Capital Stock Performance

NASDAQ:VCTR traded down $0.54 during midday trading on Thursday, reaching $71.19. The stock had a trading volume of 841,230 shares, compared to its average volume of 1,048,294. Victory Capital has a 1-year low of $47.00 and a 1-year high of $73.42. The firm's fifty day simple moving average is $66.24 and its 200-day simple moving average is $62.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.37 and a quick ratio of 1.09. The stock has a market capitalization of $4.79 billion, a P/E ratio of 17.58, a PEG ratio of 0.78 and a beta of 1.04.

Victory Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be paid a $0.49 dividend. The ex-dividend date 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 (DPR) is presently 48.40%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its stake in Victory Capital by 3.3% in the 2nd quarter. State Street Corp now owns 1,239,361 shares of the company's stock valued at $78,910,000 after buying an additional 39,986 shares during the last quarter. Basswood Capital Management L.L.C. grew its position in Victory Capital by 37.9% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 437,409 shares of the company's stock worth $27,850,000 after purchasing an additional 120,140 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Victory Capital by 1.6% in 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 during the last quarter. Qube Research & Technologies Ltd grew its position in Victory Capital by 2.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 267,088 shares of the company's stock worth $17,005,000 after purchasing an additional 6,167 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Victory Capital by 27.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 112,724 shares of the company's stock worth $7,177,000 after purchasing an additional 24,603 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VCTR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen downgraded shares of Victory Capital from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. UBS Group cut their price target on shares of Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays raised their price target on shares of Victory Capital from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, B. Riley raised their price target on shares of Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Victory Capital has an average rating of "Moderate Buy" and a consensus price target of $72.22.

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.