Victory Capital (NASDAQ:VCTR) Shares Gap Up Following Dividend Announcement

Victory Capital Holdings, Inc. (NASDAQ:VCTR) shares gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $63.51, but opened at $67.58. Victory Capital shares last traded at $64.13, with a volume of 21,653 shares changing hands.

The newly announced dividend which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.66%. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, December 9th. Victory Capital’s payout ratio is presently 46.20%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Victory Capital from $59.50 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. BMO Capital Markets lifted their price objective on shares of Victory Capital from $61.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America lifted their price objective on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Barclays assumed coverage on shares of Victory Capital in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.67.

Victory Capital Stock Performance

The firm has a market capitalization of $4.29 billion, a P/E ratio of 18.63, a P/E/G ratio of 0.69 and a beta of 0.90. The firm has a 50-day moving average price of $57.02 and a two-hundred day moving average price of $52.90. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91.

Victory Capital (NASDAQ:VCTR) last released its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The business had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. On average, analysts forecast that Victory Capital Holdings, Inc. will post 5.2 EPS for the current fiscal year.

Institutional Trading of Victory Capital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in shares of Victory Capital in the third quarter valued at about $585,000. Empowered Funds LLC raised its holdings in shares of Victory Capital by 24.5% in the third quarter. Empowered Funds LLC now owns 37,768 shares of the company’s stock valued at $2,092,000 after acquiring an additional 7,426 shares in the last quarter. Royce & Associates LP bought a new stake in shares of Victory Capital in the third quarter valued at about $7,755,000. Victory Capital Management Inc. raised its holdings in shares of Victory Capital by 3.2% in the third quarter. Victory Capital Management Inc. now owns 29,372 shares of the company’s stock valued at $1,627,000 after acquiring an additional 919 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of Victory Capital by 6.7% in the third quarter. Apollon Wealth Management LLC now owns 10,508 shares of the company’s stock valued at $582,000 after acquiring an additional 658 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors.

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.