Victory Capital (NASDAQ:VCTR) Sees Large Volume Increase After Analyst Upgrade

Victory Capital Holdings, Inc. (NASDAQ:VCTR) saw strong trading volume on Wednesday after Morgan Stanley raised their price target on the stock from $30.00 to $32.00. Morgan Stanley currently has an underweight rating on the stock. 209,405 shares traded hands during mid-day trading, a decline of 41% from the previous session’s volume of 356,613 shares.The stock last traded at $44.72 and had previously closed at $44.62.

VCTR has been the topic of several other research reports. BMO Capital Markets lifted their price target on shares of Victory Capital from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday. B. Riley reaffirmed a “buy” rating and set a $48.00 price target (up previously from $40.00) on shares of Victory Capital in a report on Friday, February 16th. UBS Group lifted their price target on shares of Victory Capital from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada lifted their price target on shares of Victory Capital from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.43.

Institutional Investors Weigh In On Victory Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Victory Capital by 88.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,105 shares of the company’s stock valued at $853,000 after buying an additional 9,450 shares during the last quarter. Diversified Trust Co increased its position in Victory Capital by 13.6% in the first quarter. Diversified Trust Co now owns 14,160 shares of the company’s stock worth $601,000 after purchasing an additional 1,695 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Victory Capital in the first quarter worth $298,000. Annex Advisory Services LLC bought a new stake in Victory Capital in the first quarter worth $555,000. Finally, Quadrature Capital Ltd bought a new stake in Victory Capital in the fourth quarter worth $688,000. Institutional investors own 87.71% of the company’s stock.

Victory Capital Price Performance

The firm’s 50-day moving average is $40.29 and its two-hundred day moving average is $35.32. The company has a market cap of $2.95 billion, a P/E ratio of 14.66, a PEG ratio of 0.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.66.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.02. Victory Capital had a net margin of 25.96% and a return on equity of 28.70%. The company had revenue of $205.80 million for the quarter, compared to analysts’ expectations of $204.20 million. During the same quarter in the previous year, the business posted $1.03 earnings per share. Victory Capital’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts anticipate that Victory Capital Holdings, Inc. will post 5.02 earnings per share for the current year.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a dividend of $0.335 per share. This is a boost from Victory Capital’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.34 dividend on an annualized basis and a yield of 2.92%. Victory Capital’s payout ratio is 42.81%.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.