Victory Capital (NASDAQ:VCTR) Shares Gap Up on Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report)'s stock price gapped up before the market opened on Wednesday after Barclays raised their price target on the stock from $62.00 to $68.00. The stock had previously closed at $63.69, but opened at $69.75. Barclays currently has an equal weight rating on the stock. Victory Capital shares last traded at $69.22, with a volume of 379,527 shares traded.

A number of other brokerages also recently 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. Bank of America dropped their price target on Victory Capital from $89.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price target on Victory Capital from $69.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Royal Bank Of Canada upped their price target on Victory Capital from $72.00 to $75.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, UBS Group dropped their price target on Victory Capital from $71.00 to $68.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Victory Capital presently has a consensus rating of "Moderate Buy" and an average target price of $72.22.

Institutional Investors Weigh In On Victory Capital

Large investors have recently made changes to their positions in the business. Nuveen LLC purchased a new position in shares of Victory Capital in the 1st quarter valued at approximately $27,274,000. Bank of America Corp DE raised its stake in Victory Capital by 46.8% during the fourth quarter. Bank of America Corp DE now owns 1,438,413 shares of the company's stock valued at $94,159,000 after buying an additional 458,534 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in Victory Capital by 17.2% during the first quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company's stock valued at $105,671,000 after buying an additional 268,573 shares during the last quarter. Annex Advisory Services LLC raised its stake in Victory Capital by 127.7% during the first quarter. Annex Advisory Services LLC now owns 395,252 shares of the company's stock valued at $22,873,000 after buying an additional 221,690 shares during the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in Victory Capital during the first quarter valued at $8,349,000. 87.71% of the stock is currently owned by institutional investors.

Victory Capital Stock Up 8.4%

The stock has a 50 day simple moving average of $63.03 and a 200-day simple moving average of $62.00. The firm has a market cap of $4.64 billion, a PE ratio of 15.33, a PEG ratio of 0.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.09 and a quick ratio of 1.09.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.38 by ($0.02). The business 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 period in the previous year, the business posted $1.25 EPS. Sell-side analysts predict that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.84%. The ex-dividend date was Tuesday, June 10th. This is a positive change from Victory Capital's previous quarterly dividend of $0.47. Victory Capital's payout ratio is currently 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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