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

Victory Capital Holdings, Inc. (NASDAQ:VCTR) hit a new 52-week high during trading on Thursday . The company traded as high as $88.66 and last traded at $88.6150, with a volume of 93510 shares trading hands. The stock had previously closed at $87.00.

Analyst Ratings Changes

A number of research firms have issued reports on VCTR. Wall Street Zen lowered shares of Victory Capital from a “buy” rating to a “hold” rating in a report on Monday, April 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Victory Capital in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a report on Monday, April 20th. Morgan Stanley set a $76.00 target price on shares of Victory Capital in a report on Friday, May 1st. Finally, Barclays upped their target price on shares of Victory Capital from $74.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.

Victory Capital Trading Up 1.6%

The business’s fifty day moving average is $71.50 and its 200-day moving average is $68.26. The stock has a market capitalization of $5.66 billion, a PE ratio of 19.90, a P/E/G ratio of 0.98 and a beta of 1.09. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.41.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.19. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The company had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. During the same period in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was up 76.7% compared to the same quarter last year. As a group, analysts anticipate that Victory Capital Holdings, Inc. will post 6.73 EPS for the current fiscal year.

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Wednesday, June 10th will be given a $0.50 dividend. This is an increase from Victory Capital’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Victory Capital’s dividend payout ratio is 45.05%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VCTR. Caitong International Asset Management Co. Ltd raised its position in shares of Victory Capital by 19,350.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company’s stock worth $25,000 after buying an additional 387 shares during the period. Core Wealth Advisors LLC purchased a new position in Victory Capital in the fourth quarter valued at approximately $30,000. Covestor Ltd raised its holdings in Victory Capital by 99.7% in the fourth quarter. Covestor Ltd now owns 669 shares of the company’s stock valued at $42,000 after buying an additional 334 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in Victory Capital in the first quarter valued at approximately $46,000. Finally, PNC Financial Services Group Inc. raised its holdings in Victory Capital by 48.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock valued at $48,000 after buying an additional 246 shares during the period. 87.71% of the stock is 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.