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

Victory Capital Holdings, Inc. (NASDAQ:VCTR)’s share price gapped up prior to trading 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 trading hands.

Several other brokerages have also commented on VCTR. Wall Street Zen lowered shares of Victory Capital from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada upped 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. UBS Group lowered their price objective 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. Bank of America dropped their price objective on shares of Victory Capital from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their target price on 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.22.

Institutional Investors Weigh In On Victory Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Victory Capital by 3.3% in the first quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company’s stock worth $236,994,000 after buying an additional 129,055 shares during the last quarter. Capital World Investors lifted its holdings in Victory Capital by 0.4% in the fourth quarter. Capital World Investors now owns 3,231,009 shares of the company’s stock valued at $211,502,000 after acquiring an additional 11,654 shares during the period. Franklin Resources Inc. boosted its position in Victory Capital by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 2,011,963 shares of the company’s stock worth $131,703,000 after purchasing an additional 31,944 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in Victory Capital by 17.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company’s stock worth $105,671,000 after purchasing an additional 268,573 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Victory Capital by 46.8% during the 4th quarter. Bank of America Corp DE now owns 1,438,413 shares of the company’s stock worth $94,159,000 after purchasing an additional 458,534 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Victory Capital Stock Performance

The firm’s fifty day moving average price is $63.25 and its two-hundred day moving average price is $62.05. The stock has a market capitalization of $4.68 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.71 and a beta of 1.03. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.84.

Victory Capital (NASDAQ:VCTR) last announced its earnings results 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). Victory Capital had a return on equity of 30.28% and a net margin of 32.90%. The business had revenue of $219.60 million for the quarter, compared to analyst estimates of $226.38 million. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, June 10th. 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 2.81%. Victory Capital’s dividend 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.