Victory Capital (NASDAQ:VCTR) Sets New 52-Week High on Better-Than-Expected Earnings

Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $74.32 and last traded at $69.1810, with a volume of 167693 shares traded. The stock had previously closed at $70.98.

The company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Victory Capital had a return on equity of 21.86% and a net margin of 25.27%.The business had revenue of $374.12 million during the quarter, compared to the consensus estimate of $371.09 million. During the same period last year, the company earned $1.45 EPS. The company’s revenue for the quarter was up 61.0% on a year-over-year basis.

Victory Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.96 annualized dividend and a dividend yield of 2.8%. Victory Capital’s dividend payout ratio is 48.16%.

Analysts Set New Price Targets

VCTR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price objective on Victory Capital from $70.00 to $71.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Barclays set a $69.00 target price on Victory Capital in a research report on Friday. Zacks Research cut Victory Capital from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Morgan Stanley cut their price objective on Victory Capital from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Victory Capital in a research report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.11.

Hedge Funds Weigh In On Victory Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of VCTR. AlphaQuest LLC increased its position in shares of Victory Capital by 192.1% in the 3rd quarter. AlphaQuest LLC now owns 21,698 shares of the company’s stock valued at $1,405,000 after purchasing an additional 14,269 shares during the last quarter. Annex Advisory Services LLC grew its stake in shares of Victory Capital by 4.6% during the third quarter. Annex Advisory Services LLC now owns 544,078 shares of the company’s stock worth $35,234,000 after purchasing an additional 24,050 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Victory Capital by 418.8% during the third quarter. New York State Teachers Retirement System now owns 19,477 shares of the company’s stock worth $1,261,000 after purchasing an additional 15,723 shares in the last quarter. Amundi purchased a new position in Victory Capital in the second quarter valued at $213,219,000. Finally, Teacher Retirement System of Texas raised its stake in Victory Capital by 285.3% in the third quarter. Teacher Retirement System of Texas now owns 74,829 shares of the company’s stock valued at $4,846,000 after buying an additional 55,408 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Stock Performance

The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 0.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.47 and a quick ratio of 1.26. The stock has a 50 day simple moving average of $65.95 and a two-hundred day simple moving average of $66.58.

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.