Victory Capital (NASDAQ:VCTR) Sets New 52-Week High Following Analyst Upgrade

Key Points

• Victory Capital reached a new 52-week high after JPMorgan raised its price target from $87 to $101, though it maintained a neutral rating. Shares traded around $110.65, above the average analyst price target of $98.29.
• The company reported strong quarterly results, with earnings of $2.21 per share versus the $1.79 consensus estimate and revenue of $435.36 million versus expectations of $386.09 million.
• Victory Capital declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 1.8% yield; institutional investors own approximately 87.71% of the stock.

Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report) hit a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $87.00 to $101.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Victory Capital traded as high as $110.37 and last traded at $110.65, with a volume of 20430 shares traded. The stock had previously closed at $108.16.

VCTR has been the topic of several other reports. Wall Street Zen raised Victory Capital from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Morgan Stanley set a $91.00 price objective on shares of Victory Capital in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Victory Capital in a research note on Friday, July 17th. Royal Bank Of Canada boosted their target price on shares of Victory Capital from $107.00 to $118.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $100.00 target price on shares of Victory Capital in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Victory Capital has an average rating of "Moderate Buy" and an average price target of $98.29.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VCTR. Caitong International Asset Management Co. Ltd increased its holdings in Victory Capital by 19,350.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company's stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Core Wealth Advisors LLC purchased a new position in shares of Victory Capital during the 4th quarter valued at approximately $30,000. Covestor Ltd grew its position in shares of Victory Capital by 99.7% during the fourth quarter. Covestor Ltd now owns 669 shares of the company's stock worth $42,000 after buying an additional 334 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Victory Capital during the first quarter worth approximately $46,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Victory Capital by 48.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 753 shares of the company's stock worth $48,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company's stock.

Victory Capital Trading Up 2.3%

The firm has a market cap of $6.92 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08. The business's 50 day moving average is $91.83 and its 200-day moving average is $80.01. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $2.21 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.42. The firm had revenue of $435.36 million for the quarter, compared to the consensus estimate of $386.09 million. Victory Capital had a net margin of 29.57% and a return on equity of 24.17%. As a group, analysts forecast that Victory Capital Holdings, Inc. will post 7.38 earnings per share for the current fiscal year.

Victory Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 1.8%. Victory Capital's dividend payout ratio (DPR) is presently 36.76%.

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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