Victory Capital (NASDAQ:VCTR) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report) saw an uptick in trading volume on Thursday after Barclays raised their price target on the stock from $62.00 to $68.00. Barclays currently has an equal weight rating on the stock. 1,230,675 shares traded hands during trading, an increase of 254% from the previous session's volume of 347,441 shares.The stock last traded at $71.25 and had previously closed at $69.67.

VCTR has been the subject of several other research reports. Bank of America lowered their price objective on shares of Victory Capital from $89.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. UBS Group decreased their price target on shares of Victory Capital from $71.00 to $68.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada boosted their price target on shares of Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. B. Riley boosted their price target on shares of Victory Capital from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Victory Capital from $69.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.22.

Institutional Investors Weigh In On Victory Capital

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Victory Capital during the fourth quarter valued at about $3,813,000. PNC Financial Services Group Inc. increased its position in shares of Victory Capital by 650.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,948 shares of the company's stock valued at $586,000 after buying an additional 7,756 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Victory Capital by 16.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,135 shares of the company's stock valued at $925,000 after buying an additional 1,981 shares during the period. HighTower Advisors LLC increased its position in shares of Victory Capital by 6.0% during the fourth quarter. HighTower Advisors LLC now owns 9,915 shares of the company's stock valued at $649,000 after buying an additional 564 shares during the period. Finally, Avantax Advisory Services Inc. bought a new stake in shares of Victory Capital during the fourth quarter valued at about $635,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Stock Performance

The company has a 50-day moving average price of $63.25 and a two-hundred day moving average price of $62.05. The stock has a market capitalization of $4.80 billion, a P/E ratio of 15.90, a PEG ratio of 0.71 and a beta of 1.03. 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 (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $226.38 million. Victory Capital had a return on equity of 30.28% and a net margin of 32.90%. The firm's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. Equities analysts expect that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were given a dividend of $0.49 per share. This is a boost from Victory Capital's previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Tuesday, June 10th. Victory Capital's dividend payout ratio (DPR) is presently 43.65%.

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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