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

Victory Capital Holdings, Inc. (NASDAQ:VCTR) shares saw unusually-high 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. Approximately 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.

A number of other equities analysts also recently commented on the company. BMO Capital Markets increased their price objective on Victory Capital from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday. B. Riley reissued a “buy” rating and issued a $48.00 price objective (up from $40.00) on shares of Victory Capital in a research report on Friday, February 16th. Royal Bank of Canada increased their price objective on Victory Capital from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, UBS Group raised their target price on Victory Capital from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.43.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in Victory Capital by 1.3% during the fourth quarter. Federated Hermes Inc. now owns 28,896 shares of the company’s stock worth $995,000 after acquiring an additional 383 shares in the last quarter. Olympiad Research LP raised its stake in Victory Capital by 6.0% during the third quarter. Olympiad Research LP now owns 6,910 shares of the company’s stock worth $230,000 after acquiring an additional 394 shares in the last quarter. State of Wyoming raised its stake in Victory Capital by 7.6% during the fourth quarter. State of Wyoming now owns 5,729 shares of the company’s stock worth $154,000 after acquiring an additional 405 shares in the last quarter. SMH Capital Advisors Inc. raised its stake in Victory Capital by 4.4% during the fourth quarter. SMH Capital Advisors Inc. now owns 10,088 shares of the company’s stock worth $271,000 after acquiring an additional 423 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Victory Capital by 3.9% during the first quarter. Sei Investments Co. now owns 11,801 shares of the company’s stock worth $345,000 after acquiring an additional 446 shares in the last quarter. 87.71% of the stock is currently owned by institutional investors and hedge funds.

Victory Capital Stock Up 2.8 %

The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth 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. The firm has a 50 day simple moving average of $40.29 and a 200-day simple moving average of $35.32.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Friday, February 9th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Victory Capital had a return on equity of 28.70% and a net margin of 25.96%. The company had revenue of $205.80 million during the quarter, compared to analyst estimates of $204.20 million. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts forecast that Victory Capital Holdings, Inc. will post 5.02 EPS for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a $0.335 dividend. The ex-dividend date was Friday, March 8th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.92%. Victory Capital’s dividend payout ratio (DPR) is 42.81%.

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.