Victory Capital Holdings, Inc. (NASDAQ:VCTR) Announces Quarterly Dividend of $0.41

Victory Capital Holdings, Inc. (NASDAQ:VCTR) declared a quarterly dividend on Thursday, August 8th, Zacks reports. Shareholders of record on Tuesday, September 10th will be paid a dividend of 0.41 per share on Wednesday, September 25th. This represents a $1.64 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, September 10th. This is a boost from Victory Capital’s previous quarterly dividend of $0.37.

Victory Capital has increased its dividend payment by an average of 77.2% per year over the last three years. Victory Capital has a dividend payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Victory Capital to earn $5.45 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 30.1%.

Victory Capital Price Performance

Shares of NASDAQ VCTR opened at $51.18 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. Victory Capital has a 1 year low of $28.66 and a 1 year high of $55.16. The company’s 50-day moving average is $50.91 and its 200 day moving average is $47.96. The stock has a market capitalization of $3.31 billion, a P/E ratio of 15.70, a P/E/G ratio of 0.56 and a beta of 0.91.

Victory Capital (NASDAQ:VCTR) last released its earnings results on Thursday, August 8th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $219.62 million during the quarter, compared to analysts’ expectations of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. On average, sell-side analysts expect that Victory Capital will post 5.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on VCTR shares. JPMorgan Chase & Co. boosted their price target on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. The Goldman Sachs Group raised their price objective on shares of Victory Capital from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Royal Bank of Canada reduced their target price on Victory Capital from $56.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. BMO Capital Markets reiterated an “outperform” rating and issued a $57.00 price target (up from $55.00) on shares of Victory Capital in a research note on Monday, May 13th. Finally, Morgan Stanley increased their price objective on shares of Victory Capital from $39.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.67.

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.