Victory Capital (NASDAQ:VCTR) Shares Down 7.2% - Here's What Happened

Victory Capital Holdings, Inc. (NASDAQ:VCTR - Get Free Report) shares dropped 7.2% during trading on Tuesday . The company traded as low as $57.56 and last traded at $57.83. Approximately 118,078 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 286,574 shares. The stock had previously closed at $62.34.

Analyst Ratings Changes

VCTR has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price objective on Victory Capital from $73.00 to $82.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Barclays upped their price objective on Victory Capital from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on Victory Capital from $61.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, November 14th. B. Riley reissued a "neutral" rating and issued a $60.00 target price (up previously from $57.00) on shares of Victory Capital in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. boosted their target price on Victory Capital from $62.00 to $69.00 and gave the company a "neutral" rating in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $68.33.

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Victory Capital Stock Up 1.2 %

The business has a 50-day moving average price of $65.19 and a two-hundred day moving average price of $61.90. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The firm has a market cap of $3.80 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90.

Victory Capital (NASDAQ:VCTR - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.07. Victory Capital had a return on equity of 31.08% and a net margin of 32.33%. On average, equities research analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS for the current year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from Victory Capital's previous quarterly dividend of $0.44. Victory Capital's dividend payout ratio is currently 43.02%.

Institutional Trading of Victory Capital

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System increased its holdings in Victory Capital by 52.5% in the third quarter. New York State Teachers Retirement System now owns 3,754 shares of the company's stock valued at $208,000 after buying an additional 1,293 shares during the last quarter. US Bancorp DE increased its holdings in Victory Capital by 32.8% in the third quarter. US Bancorp DE now owns 21,560 shares of the company's stock valued at $1,194,000 after buying an additional 5,325 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Victory Capital by 367.5% in the third quarter. Farther Finance Advisors LLC now owns 575 shares of the company's stock valued at $32,000 after buying an additional 452 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Victory Capital by 1.5% in the third quarter. Principal Financial Group Inc. now owns 47,626 shares of the company's stock valued at $2,638,000 after buying an additional 722 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Victory Capital in the third quarter valued at $892,000. Hedge funds and other institutional investors 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.