Victory Capital (NASDAQ:VCTR) Trading Down 5.6% – Here’s What Happened

Shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR) fell 5.6% during trading on Tuesday . The company traded as low as $58.77 and last traded at $59.79. 97,756 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 190,780 shares. The stock had previously closed at $63.37.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VCTR shares. B. Riley reaffirmed a “neutral” rating and issued a $60.00 price objective (up from $57.00) on shares of Victory Capital in a research report on Tuesday. BMO Capital Markets lifted their price target on Victory Capital from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Morgan Stanley boosted their price target on Victory Capital from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their target price on Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, UBS Group upped their price target on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.00.

Victory Capital Stock Up 3.9 %

The firm’s 50-day moving average price is $65.68 and its 200 day moving average price is $57.52. 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 company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 0.59 and a beta of 0.90.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 9th were given a dividend of $0.44 per share. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Monday, December 9th. Victory Capital’s payout ratio is currently 43.78%.

Institutional Investors Weigh In On Victory Capital

A number of large investors have recently modified their holdings of VCTR. Franklin Resources Inc. lifted its position in shares of Victory Capital by 113.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,980,019 shares of the company’s stock worth $115,990,000 after buying an additional 1,051,459 shares during the last quarter. Royce & Associates LP acquired a new position in Victory Capital during the third quarter worth about $7,755,000. Geode Capital Management LLC lifted its holdings in shares of Victory Capital by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company’s stock worth $57,446,000 after acquiring an additional 101,247 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Victory Capital by 28.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 454,330 shares of the company’s stock valued at $25,170,000 after purchasing an additional 100,614 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Victory Capital by 54.1% during the 2nd quarter. Federated Hermes Inc. now owns 270,472 shares of the company’s stock valued at $12,910,000 after purchasing an additional 94,943 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.