Victory Capital (NASDAQ:VCTR) Sees Large Volume Increase on Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR) shares saw unusually-strong 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. Approximately 1,230,675 shares traded hands during mid-day 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.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. UBS Group lowered their price target on Victory Capital from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. B. Riley raised their price target on Victory Capital from $70.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Royal Bank Of Canada raised their price target on Victory Capital from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. Finally, Wall Street Zen cut Victory Capital from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.22.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of VCTR. Nuveen LLC acquired a new stake in Victory Capital during the first quarter valued at $27,274,000. Bank of America Corp DE increased its position in shares of Victory Capital by 46.8% in 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 in the last quarter. Bahl & Gaynor Inc. increased its position in shares of Victory Capital by 17.2% in 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 in the last quarter. Annex Advisory Services LLC increased its position in shares of Victory Capital by 127.7% in 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 in the last quarter. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Victory Capital in the first quarter valued at approximately $8,349,000. 87.71% of the stock is owned by institutional investors and hedge funds.

Victory Capital Price Performance

The firm has a market capitalization of $4.77 billion, a PE ratio of 15.81, a PEG ratio of 0.77 and a beta of 1.03. The stock has a 50-day moving average price of $63.47 and a 200 day moving average price of $62.09. 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) last posted its quarterly earnings data 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 analysts’ expectations of $226.38 million. Victory Capital had a net margin of 32.90% and a return on equity of 30.28%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. Equities analysts forecast that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.76%. This is a boost from Victory Capital’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Tuesday, June 10th. Victory Capital’s payout ratio is presently 43.65%.

Victory Capital Company Profile

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.