Victory Capital Holdings, Inc. (NASDAQ:VCTR) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $118.67.

VCTR has been the topic of several recent analyst reports. Weiss Ratings upgraded Victory Capital from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, October 8th. Barclays lifted their price objective on shares of Victory Capital from $112.00 to $121.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 14th. Morgan Stanley upped their target price on shares of Victory Capital from $115.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Zacks Research downgraded shares of Victory Capital from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Victory Capital from $101.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, October 16th.

Key Stories Impacting Victory Capital

Here are the key news stories impacting Victory Capital this week:

• Positive Sentiment: The company declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a yield of about 1.8%. The dividend is payable December 23 to shareholders of record December 10. Dividend announcement
• Positive Sentiment: Victory Capital highlighted record third-quarter gross sales and net flows, suggesting strong client demand. Adjusted earnings also increased from $1.63 per share a year earlier to $1.98. Third-quarter results
• Negative Sentiment: Quarterly EPS of $1.98 narrowly missed the $1.99 consensus, while revenue of $396.57 million came in below the $411.23 million estimate. The revenue shortfall, despite record flows, is the clearest near-term negative for the stock. Earnings and revenue miss

Victory Capital Stock Performance

Shares of Victory Capital stock opened at $112.41 on Friday. Victory Capital has a 52 week low of $57.03 and a 52 week high of $123.55. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $110.82 and a 200-day moving average price of $90.07. The company has a market cap of $6.91 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Wednesday, November 4th. The company reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.01). Victory Capital had a net margin of 28.58% and a return on equity of 24.46%. The company had revenue of $396.57 million for the quarter, compared to analysts’ expectations of $411.23 million. Equities analysts anticipate that Victory Capital will post 7.78 earnings per share for the current fiscal year.

Victory Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Thursday, December 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, December 10th. This represents a $2.00 annualized dividend and a yield of 1.8%. Victory Capital’s payout ratio is 36.76%.

Institutional Investors Weigh In On Victory Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bahl & Gaynor LLC increased its holdings in Victory Capital by 1.9% during the third quarter. Bahl & Gaynor LLC now owns 3,100,986 shares of the company’s stock worth $342,969,000 after buying an additional 56,708 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Victory Capital by 14.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company’s stock worth $114,163,000 after acquiring an additional 221,471 shares during the period. Granahan Investment Management LLC raised its position in Victory Capital by 1.1% in the first quarter. Granahan Investment Management LLC now owns 1,087,315 shares of the company’s stock worth $71,197,000 after acquiring an additional 12,113 shares during the period. Bank of America Corp DE raised its position in Victory Capital by 12.4% in the first quarter. Bank of America Corp DE now owns 1,007,405 shares of the company’s stock worth $65,965,000 after acquiring an additional 111,063 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Victory Capital in the second quarter valued at about $42,035,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Victory Capital

Victory Capital Holdings, Inc is a global investment management company headquartered in San Antonio, Texas. The company provides investment solutions to individual investors, financial professionals, institutions, retirement plans and other organizations through a range of investment strategies and distribution channels.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, model portfolios, collective investment trusts and customized institutional mandates.