Victory Capital (NASDAQ:VCTR) Sets New 1-Year High – Still a Buy?

Victory Capital Holdings, Inc. (NASDAQ:VCTR) reached a new 52-week high during trading on Thursday . The company traded as high as $88.66 and last traded at $88.6150, with a volume of 93510 shares changing hands. The stock had previously closed at $87.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Victory Capital from $72.00 to $81.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Barclays upped their price objective on Victory Capital from $74.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley set a $76.00 price objective on Victory Capital in a report on Friday, May 1st. Wall Street Zen upgraded Victory Capital from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Victory Capital in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.71.

Victory Capital Trading Down 2.8%

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 0.99 and a beta of 1.09. The business has a 50 day simple moving average of $72.22 and a 200-day simple moving average of $68.55.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Wednesday, May 6th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The firm had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. During the same period in the previous year, the firm earned $1.36 earnings per share. The company’s revenue was up 76.7% on a year-over-year basis. As a group, equities analysts expect that Victory Capital Holdings, Inc. will post 6.73 earnings per share for the current year.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.50 per share. This is an increase from Victory Capital’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Victory Capital’s payout ratio is currently 44.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL boosted its position in shares of Victory Capital by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 13,294 shares of the company’s stock worth $870,000 after buying an additional 134 shares during the period. Planned Solutions Inc. boosted its position in shares of Victory Capital by 4.6% during the fourth quarter. Planned Solutions Inc. now owns 3,546 shares of the company’s stock worth $224,000 after buying an additional 155 shares during the period. Baird Financial Group Inc. boosted its position in shares of Victory Capital by 1.6% during the second quarter. Baird Financial Group Inc. now owns 10,332 shares of the company’s stock worth $658,000 after buying an additional 163 shares during the period. American Century Companies Inc. boosted its position in shares of Victory Capital by 1.9% during the second quarter. American Century Companies Inc. now owns 11,892 shares of the company’s stock worth $757,000 after buying an additional 217 shares during the period. Finally, CWM LLC boosted its position in shares of Victory Capital by 29.0% during the third quarter. CWM LLC now owns 973 shares of the company’s stock worth $63,000 after buying an additional 219 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

Victory Capital Company Profile

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.