Victory Capital (NASDAQ:VCTR) Shares Gap Up – Here’s What Happened

Victory Capital Holdings, Inc. (NASDAQ:VCTR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $55.77, but opened at $57.14. Victory Capital shares last traded at $57.12, with a volume of 24,470 shares.

Wall Street Analyst Weigh In

VCTR has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Victory Capital from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Bank of America reduced their target price on shares of Victory Capital from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. B. Riley reiterated a “neutral” rating and issued a $60.00 price target (up from $57.00) on shares of Victory Capital in a report on Tuesday, January 7th. Morgan Stanley upped their target price on Victory Capital from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their target price on Victory Capital from $62.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.44.

Victory Capital Stock Performance

The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 0.55 and a beta of 0.86. 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 50-day simple moving average of $60.79 and a 200-day simple moving average of $62.75.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.07. Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. On average, analysts anticipate that Victory Capital Holdings, Inc. will post 6.16 earnings per share for the current year.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.30%. This is an increase from Victory Capital’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, February 18th. Victory Capital’s dividend payout ratio (DPR) is 43.02%.

Institutional Trading of Victory Capital

Several institutional investors and hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new position in shares of Victory Capital in the 3rd quarter worth approximately $918,000. Geode Capital Management LLC raised its holdings in shares of Victory Capital by 10.8% during the third quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company’s stock worth $57,446,000 after purchasing an additional 101,247 shares during the period. McIlrath & Eck LLC bought a new position in shares of Victory Capital in the 3rd quarter worth about $565,000. JPMorgan Chase & Co. boosted its holdings in shares of Victory Capital by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 372,932 shares of the company’s stock valued at $20,660,000 after buying an additional 11,785 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Victory Capital by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 52,830 shares of the company’s stock valued at $3,458,000 after buying an additional 5,204 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.