Victory Capital (NASDAQ:VCTR) Sets New 52-Week High Following Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $87.00 to $101.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Victory Capital traded as high as $110.37 and last traded at $110.65, with a volume of 20430 shares trading hands. The stock had previously closed at $108.16.

VCTR has been the subject of several other research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $100.00 target price on shares of Victory Capital in a research report on Friday. Zacks Research raised Victory Capital from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Wall Street Zen upgraded Victory Capital from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Victory Capital in a report on Friday, July 17th. Finally, Morgan Stanley set a $91.00 price objective on shares of Victory Capital in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Victory Capital has a consensus rating of “Moderate Buy” and an average target price of $98.29.

Hedge Funds Weigh In On Victory Capital

Several institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Victory Capital by 19,350.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 387 shares during the period. Core Wealth Advisors LLC acquired a new position in Victory Capital during the 4th quarter valued at approximately $30,000. Covestor Ltd boosted its position in Victory Capital by 99.7% during the 4th quarter. Covestor Ltd now owns 669 shares of the company’s stock valued at $42,000 after purchasing an additional 334 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Victory Capital during the 1st quarter worth $46,000. Finally, PNC Financial Services Group Inc. grew its stake in Victory Capital by 48.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock worth $48,000 after buying an additional 246 shares during the last quarter. 87.71% of the stock is owned by institutional investors.

Victory Capital Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The company has a 50-day simple moving average of $91.83 and a two-hundred day simple moving average of $80.01. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Wednesday, August 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.42. Victory Capital had a return on equity of 24.17% and a net margin of 29.57%.The company had revenue of $435.36 million for the quarter, compared to analysts’ expectations of $386.09 million. On average, equities research analysts predict that Victory Capital Holdings, Inc. will post 7.38 earnings per share for the current year.

Victory Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Victory Capital’s dividend payout ratio (DPR) is 36.76%.

About Victory Capital

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.