Victory Capital (NASDAQ:VCTR) Trading Up 8.3% on Strong Earnings

Victory Capital Holdings, Inc. (NASDAQ:VCTR)’s share price was up 8.3% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $70.75 and last traded at $71.12. Approximately 78,956 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 287,367 shares. The stock had previously closed at $65.64.

The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.07. Victory Capital had a return on equity of 29.92% and a net margin of 30.82%.

Victory Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be paid a $0.47 dividend. This is a boost from Victory Capital’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Tuesday, February 18th. Victory Capital’s dividend payout ratio (DPR) is presently 40.27%.

Analyst Upgrades and Downgrades

VCTR has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on shares of Victory Capital from $71.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. B. Riley restated a “neutral” rating and set a $60.00 price objective (up from $57.00) on shares of Victory Capital in a research report on Tuesday, January 7th. The Goldman Sachs Group upped their price objective on Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. UBS Group lifted their price objective on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Barclays lifted their price objective on shares of Victory Capital from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Victory Capital currently has an average rating of “Hold” and a consensus price target of $65.11.

Institutional Investors Weigh In On Victory Capital

Large investors have recently made changes to their positions in the stock. Contravisory Investment Management Inc. raised its stake in shares of Victory Capital by 53.2% in the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after purchasing an additional 199 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Victory Capital by 367.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock valued at $32,000 after acquiring an additional 452 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company’s stock valued at $39,000 after acquiring an additional 157 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Victory Capital in the 4th quarter valued at $43,000. Finally, USA Financial Formulas boosted its holdings in shares of Victory Capital by 157.9% in the 3rd quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after acquiring an additional 676 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Price Performance

The firm’s fifty day moving average price is $65.43 and its 200 day moving average price is $59.77. The firm has a market capitalization of $4.59 billion, a PE ratio of 17.56, a P/E/G ratio of 0.56 and a beta of 0.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.84.

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.