Victory Capital (NASDAQ:VCTR) Sets New 52-Week High – Time to Buy?

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.42 and last traded at $94.8960, with a volume of 33209 shares. The stock had previously closed at $91.98.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley increased their target price on Victory Capital from $76.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Victory Capital in a research note on Tuesday, May 12th. Barclays boosted their price target on Victory Capital from $85.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday. The Goldman Sachs Group began coverage on Victory Capital in a research note on Tuesday, June 2nd. They issued a “neutral” rating and a $90.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Victory Capital in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.43.

Victory Capital Trading Up 3.4%

The company has a fifty day simple moving average of $86.29 and a 200-day simple moving average of $75.45. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $5.95 billion, a PE ratio of 21.38, a PEG ratio of 1.12 and a beta of 1.09.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. Victory Capital’s revenue was up 76.7% compared to the same quarter last year. During the same period last year, the business earned $1.36 earnings per share. Analysts predict that Victory Capital Holdings, Inc. will post 7.21 EPS for the current year.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 10th. This is a boost from Victory Capital’s previous quarterly dividend of $0.49. Victory Capital’s dividend payout ratio is presently 45.05%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VCTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Victory Capital by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company’s stock valued at $1,416,000 after purchasing an additional 1,060 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Victory Capital by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company’s stock worth $21,199,000 after purchasing an additional 5,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Victory Capital by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company’s stock worth $5,688,000 after purchasing an additional 9,319 shares during the last quarter. Jane Street Group LLC purchased a new stake in Victory Capital in the 1st quarter valued at about $3,747,000. Finally, Intech Investment Management LLC raised its holdings in Victory Capital by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 20,442 shares of the company’s stock valued at $1,183,000 after buying an additional 3,237 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.