Victory Capital (NASDAQ:VCTR) Shares Down 5.6% – Here’s What Happened

Victory Capital Holdings, Inc. (NASDAQ:VCTR) fell 5.6% during mid-day trading on Tuesday . The company traded as low as $58.77 and last traded at $59.79. 97,756 shares changed hands during trading, a decline of 49% from the average session volume of 190,780 shares. The stock had previously closed at $63.37.

Analysts Set New Price Targets

VCTR has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised their price target on Victory Capital from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. B. Riley reiterated a “neutral” rating and set a $60.00 price objective (up previously from $57.00) on shares of Victory Capital in a research report on Tuesday. Royal Bank of Canada raised their target price on Victory Capital from $61.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets upped their price target on shares of Victory Capital from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $65.00.

Victory Capital Trading Down 2.3 %

The stock has a 50-day moving average price of $65.65 and a two-hundred day moving average price of $57.39. The stock has a market capitalization of $4.03 billion, a PE ratio of 15.41, a PEG ratio of 0.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 9th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Victory Capital’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. Victory Capital’s dividend payout ratio is 43.78%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VCTR. JPMorgan Chase & Co. lifted its position in shares of Victory Capital by 3.3% in the third quarter. JPMorgan Chase & Co. now owns 372,932 shares of the company’s stock valued at $20,660,000 after acquiring an additional 11,785 shares in the last quarter. Principal Financial Group Inc. raised its stake in Victory Capital by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 47,626 shares of the company’s stock valued at $2,638,000 after purchasing an additional 722 shares during the period. Franklin Resources Inc. boosted its stake in Victory Capital by 113.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,980,019 shares of the company’s stock worth $115,990,000 after purchasing an additional 1,051,459 shares during the period. World Investment Advisors LLC purchased a new stake in Victory Capital during the 3rd quarter valued at approximately $918,000. Finally, Sanctuary Advisors LLC purchased a new stake in Victory Capital during the 3rd quarter valued at approximately $648,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

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.