Victory Capital (NASDAQ:VCTR) Hits New 52-Week High - Here's What Happened

Key Points

• Victory Capital shares hit a new 52-week high, reaching $102.60 and trading about 2.9% higher, giving the company a market capitalization of approximately $6.37 billion.
• Recent analyst sentiment has improved, with upgrades from Wall Street Zen and Zacks Research and RBC raising its price target to $107. However, the consensus rating remains “Moderate Buy,” with an average target of $90.
• The company reported strong quarterly results, with EPS of $1.82 beating estimates and revenue rising 76.7% year over year to $387.99 million. Victory Capital also increased its quarterly dividend to $0.50 per share, equivalent to a 2.0% annual yield.

Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $102.60 and last traded at $102.2850, with a volume of 65663 shares traded. The stock had previously closed at $99.03.

Analyst Ratings Changes

VCTR has been the subject of several recent research reports. Wall Street Zen upgraded Victory Capital from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. The Goldman Sachs Group began coverage on shares of Victory Capital in a report on Tuesday, June 2nd. They issued a "neutral" rating and a $90.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of Victory Capital from $95.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Zacks Research upgraded shares of Victory Capital from a "hold" rating to a "strong-buy" rating in a report on Friday, July 10th. Finally, Morgan Stanley set a $91.00 price target on shares of Victory Capital in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Victory Capital presently has a consensus rating of "Moderate Buy" and an average target price of $90.00.

Victory Capital Trading Up 2.9%

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $6.37 billion, a P/E ratio of 22.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The stock has a 50-day moving average price of $90.01 and a two-hundred day moving average price of $78.70.

Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.19. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The company had revenue of $387.99 million during the quarter, compared to the consensus estimate of $364.97 million. During the same period in the prior year, the firm earned $1.36 earnings per share. Victory Capital's revenue was up 76.7% on a year-over-year basis. On average, research analysts forecast that Victory Capital Holdings, Inc. will post 7.38 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 10th. This is a positive change from Victory Capital's previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. Victory Capital's dividend payout ratio (DPR) is presently 45.05%.

Institutional Investors Weigh In On Victory Capital

A number of institutional investors have recently modified their holdings of VCTR. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 73,142 shares in the last quarter. Capital World Investors increased its stake in Victory Capital by 4.3% during the 4th quarter. Capital World Investors now owns 3,768,001 shares of the company's stock valued at $237,723,000 after purchasing an additional 155,732 shares in the last quarter. Amundi purchased a new position in Victory Capital in the fourth quarter worth about $192,735,000. State Street Corp raised its holdings in Victory Capital by 0.5% in the fourth quarter. State Street Corp now owns 1,857,636 shares of the company's stock worth $117,198,000 after buying an additional 8,322 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Victory Capital by 14.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company's stock worth $114,163,000 after buying an additional 221,471 shares in the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Company Profile

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.

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