Victory Capital (NASDAQ:VCTR) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Victory Capital (NASDAQ:VCTR) from a buy rating to a hold rating in a research note published on Thursday morning.

Several other equities research analysts have also recently weighed in on VCTR. Royal Bank of Canada increased their target price on Victory Capital from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. BMO Capital Markets increased their target price on Victory Capital from $73.00 to $82.00 and gave the company an “outperform” rating in a report on Monday, February 10th. UBS Group dropped their target price on Victory Capital from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Finally, B. Riley increased their target price on Victory Capital from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.56.

Victory Capital Price Performance

VCTR opened at $61.37 on Thursday. The stock has a 50-day moving average price of $58.58 and a 200-day moving average price of $62.85. Victory Capital has a 12-month low of $43.82 and a 12-month high of $73.42. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $3.91 billion, a P/E ratio of 14.04, a PEG ratio of 0.55 and a beta of 1.05.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $219.60 million during the quarter, compared to analysts’ expectations of $226.38 million. Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. Victory Capital’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.25 earnings per share. Equities analysts predict that Victory Capital will post 6.16 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.47. Victory Capital’s dividend payout ratio (DPR) is 43.65%.

Institutional Trading of Victory Capital

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Victory Capital by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company’s stock worth $236,994,000 after purchasing an additional 129,055 shares in the last quarter. Capital World Investors increased its holdings in shares of Victory Capital by 0.4% in the 4th quarter. Capital World Investors now owns 3,231,009 shares of the company’s stock worth $211,502,000 after purchasing an additional 11,654 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Victory Capital by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 2,011,963 shares of the company’s stock worth $131,703,000 after purchasing an additional 31,944 shares in the last quarter. Bahl & Gaynor Inc. increased its holdings in shares of Victory Capital by 17.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company’s stock worth $105,671,000 after purchasing an additional 268,573 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Victory Capital by 46.8% in the 4th quarter. Bank of America Corp DE now owns 1,438,413 shares of the company’s stock worth $94,159,000 after purchasing an additional 458,534 shares in the last quarter. Institutional investors own 87.71% of the company’s stock.

About Victory Capital

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.