Victory Capital (NASDAQ:VCTR) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Victory Capital (NASDAQ:VCTR) announced its earnings results on Wednesday. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12, FiscalAI reports. The business had revenue of $374.12 million for the quarter, compared to analyst estimates of $371.09 million. Victory Capital had a return on equity of 24.23% and a net margin of 25.27%.The company’s quarterly revenue was up 61.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 EPS.

Victory Capital Price Performance

Shares of Victory Capital stock opened at $70.98 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.26 and a quick ratio of 1.26. Victory Capital has a one year low of $47.00 and a one year high of $73.00. The business’s 50 day simple moving average is $65.66 and its two-hundred day simple moving average is $66.53. The stock has a market capitalization of $4.61 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.69 and a beta of 1.05.

Victory Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, March 10th. Victory Capital’s dividend payout ratio (DPR) is presently 50.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Victory Capital from $72.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of Victory Capital from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Victory Capital in a research report on Wednesday, January 21st. Morgan Stanley reduced their target price on Victory Capital from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Zacks Research lowered Victory Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Victory Capital presently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP grew its holdings in Victory Capital by 206.0% in the 2nd quarter. Quantbot Technologies LP now owns 1,224 shares of the company’s stock worth $78,000 after acquiring an additional 824 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Victory Capital during the third quarter worth about $123,000. Harvest Fund Management Co. Ltd grew its stake in shares of Victory Capital by 2,341.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 2,979 shares of the company’s stock worth $193,000 after purchasing an additional 2,857 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Victory Capital during the 3rd quarter valued at about $238,000. Finally, Voleon Capital Management LP bought a new position in Victory Capital during the 3rd quarter valued at approximately $255,000. 87.71% of the stock is owned by hedge funds and other institutional investors.

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.