Key Takeaways Dividend growth stocks can offer steady income, lower volatility, and long-term return potential.Rising payouts can reflect strong fundamentals, resilient cash flows and solid balance sheets.Stocks like ENS show positive revenue and earnings growth alongside rising dividend payouts. Major U.S. stock market indices ended last week on a dismal note as a strong August employment report increased expectations of a prolonged tight monetary policy. Meanwhile, tech stocks delivered mixed performance. Select chipmakers gained while software and enterprise firms faced pullbacks.
With the market consensus indicating that the Federal Reserve is likely to keep interest rates higher for longer, investors may hesitate to add pure growth-oriented stocks to their portfolios.
Instead, steady dividend-paying stocks present an attractive alternative.
Notably, dividend-growth stocks offer a prudent balance of consistent income, lower volatility, and reliable long-term returns compared to their high-growth counterparts.
These companies boast a proven track record of increasing payouts, underscoring the balance-sheet strength and cash-flow resilience required to navigate a market environment where traditional growth narratives are being reassessed.
Stocks with a strong history of year-over-year dividend growth can help build a resilient portfolio with greater potential for capital appreciation compared to simple dividend-paying or high-yield stocks.
We have selected three dividend growth stocks — Enersys Inc. (ENS - Free Report) , Cheesecake Factory (CAKE - Free Report) and Victory Capital Holdings (VCTR - Free Report) — that could be solid choices for your portfolio.
Why Is Dividend Growth Better?Stocks with a strong history of dividend growth are typically associated with mature companies that are less prone to sharp market swings, allowing them to serve as a hedge against economic or political uncertainty as well as broader market volatility. Their steadily rising payouts provide some measure of downside protection.
These companies are generally backed by solid fundamentals, making them attractive long-term dividend-growth investments. Key strengths include durable business models, consistent profitability, expanding cash flows, healthy liquidity, strong balance sheets and attractive valuations.
A consistent history of dividend growth underscores the potential for continued growth ahead.
Although these stocks do not necessarily have the highest yields, they have outperformed the broader stock market or any other dividend-paying stock for an extended period.
As a result, selecting dividend-growth stocks appears to be a winning strategy when other key parameters are taken into account.
5-Year Historical Dividend Growth Greater Than Zero: This selects stocks with a solid dividend growth history.
5-Year Historical Sales Growth Greater Than Zero: This represents stocks with a strong record of growing revenues.
5-Year Historical EPS Growth Greater Than Zero: This represents stocks with a solid earnings growth history.
Next 3-5 Year EPS Growth Rate Greater Than Zero: This represents the rate at which a company's earnings are expected to grow. Improving earnings should help companies sustain dividend payments.
Price/Cash Flow Less Than M-Industry: A ratio lower than the industry median indicates that a stock is undervalued within its industry, meaning an investor would pay less for the company’s cash flow.
52-Week Price Change Greater Than S&P 500 (Market Weight): This ensures that a stock has appreciated more than the S&P 500 over the past year.
Top Zacks Rank: Stocks having a Zacks Rank #1 (Strong Buy) and 2 (Buy) generally outperform their peers in all types of market environments.
Growth Score of B or better: Our research shows that stocks with a Growth Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best upside potential.
These few criteria alone narrowed the universe from more than 7,700 stocks to just three.
Here are the three stocks that fit the bill:
Pennsylvania-based EnerSys manufactures, markets, and distributes industrial batteries and related stored-energy products. It also develops battery chargers and accessories, power electronics, power equipment, and outdoor cabinet enclosures. The Zacks Consensus Estimate for ENS' fiscal 2027 revenues suggests a year-over-year improvement of 3.7%. The stock boasts a long-term earnings growth rate of 15% and has an annual dividend yield of 0.58%.
ENS currently carries a Zacks Rank #2 and has a Growth Score of A.
Headquartered in California, Cheesecake Factory is a restaurant and bakery company that owns and operates hundreds of upscale, full-service dining locations. The Zacks Consensus Estimate for CAKE's 2026 revenues suggests a year-over-year improvement of 7%. The stock boasts a long-term earnings growth rate of 13.10% and an annual dividend yield of 1.12%.
CAKE currently sports a Zacks Rank #1 and has a Growth Score of B. You can see the complete list of today’s Zacks #1 Rank stocks here.
Headquartered in Texas, Victory Capital Holdings is an integrated multi-boutique asset management firm. The Zacks Consensus Estimate for VCTR’s 2026 revenues suggests a year-over-year improvement of 24.7%. The stock boasts a long-term earnings growth rate of 15.70% and has an annual dividend yield of 1.76%.
VCTR currently holds a Zacks Rank #2 and has a Growth Score of B.
, /PRNewswire/ -- Class Action Attorney Juan Monteverde with Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm in the 2025 ISS Securities Class Action Services Report. The firm is headquartered at the Empire State Building in New York City and is investigating Victory Capital Holdings, Inc. (NASDAQ: VCTR) related to its merger with First Eagle. Under the terms of the proposed transaction, Victory Capital will acquire First Eagle for total consideration of approximately $7.0 billion, comprising approximately $4.4 billion in cash and $2.0 billion in newly issued Victory Capital equity. In addition, Victory Capital will assume $575 million of First Eagle's existing 7.25% senior secured notes due 2032. KSF is seeking to determine whether the merger and the process that led to it are adequate, or whether the merger is fair to Victory shareholders. Is it a fair deal?
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No one is above the law. If you own common stock in the above listed company and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. either via e-mail at [email protected] or by telephone at (212) 971-1341.
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MONTEVERDE & ASSOCIATES PC
The Empire State Building
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[email protected]
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Attorney Advertising. (C) 2026 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Victory Capital Holdings (VCTR - Free Report) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Victory Capital Holdings currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if VCTR is a promising momentum pick, let's examine some Momentum Style elements to see if this investment management firm holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For VCTR, shares are up 2.32% over the past week while the Zacks Financial - Investment Management industry is up 0.88% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 19.47% compares favorably with the industry's 6.46% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of Victory Capital Holdings have risen 35.21%, and are up 65.98% in the last year. On the other hand, the S&P 500 has only moved 2.22% and 19.79%, respectively.
Investors should also pay attention to VCTR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. VCTR is currently averaging 654,338 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with VCTR.
Over the past two months, 5 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost VCTR's consensus estimate, increasing from $7.33 to $7.92 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineGiven these factors, it shouldn't be surprising that VCTR is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Victory Capital Holdings on your short list.
Victory Capital Holdings agreed to acquire First Eagle Investments for about $7 billion, a deal the companies said will create one of the largest publicly traded traditional asset managers in the U.S., with roughly $571 billion in total client assets.
NEW YORK--(BUSINESS WIRE)--Halper Sadeh LLC, an investor rights law firm, is investigating the merger of Victory Capital Holdings, Inc. (NASDAQ: VCTR) and First Eagle Investments.Halper Sadeh encourages Victory Capital shareholders to click here to learn more about their rights and options or contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected] investigation concerns whether Victory Capital and its board of directors viol.
Halper Sadeh LLC, an investor rights law firm, is investigating the merger of Victory Capital Holdings, Inc. (NASDAQ: VCTR) and First Eagle Investment (Trades, Portfolio)s.
Halper Sadeh encourages Victory Capital shareholders to click here to learn more about their rights and optionsor contact Daniel Sadeh or Zachary Halper free of charge at (212) 763-0060 or [email protected] or [email protected].
The investigation concerns whether Victory Capital and its board of directors violated the federal securities laws and/or breached their fiduciary duties by failing to: (1) obtain the best possible price for Victory Capital shareholders; (2) conduct a fair sales process free of any conflicts of interests; and (3) disclose all material information for Victory Capital shareholders to evaluate the transaction.
On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures, or other relief and benefits.
Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260826974012/en/
Victory Capital NASDAQ: VCTR said it has entered into a definitive agreement to acquire First Eagle Investments in a transaction valued at approximately $7 billion, a deal the company expects will expand its assets, investment capabilities and distribution reach.
Upon closing, Victory Capital expects to have approximately $571 billion in total client assets and about $3.2 billion in combined annual revenue. The company said the acquisition is expected to close by the end of the first quarter of 2027, subject to regulatory approvals, client consents and other requirements.
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“This is a transformational acquisition for us,” Chairman and Chief Executive Officer David Brown said during a webcast announcing the agreement. Brown said the deal represents the next stage of an acquisition strategy Victory Capital has pursued for more than a decade.
First Eagle Adds $222 Billion in Assets First Eagle manages approximately $222 billion in assets under management and is expected to generate roughly $1.5 billion in revenue during 2026, according to Victory Capital. The acquired company has recorded positive net flows for each of the past three years and so far in 2026, Brown said.
Victory Capital highlighted First Eagle’s global value multi-asset platform, which manages approximately $135 billion and is organized around downside mitigation across asset classes. The acquisition also would add municipal bond, U.S. small-cap equity, value equity and fixed-income capabilities.
The transaction would further establish Victory Capital in alternatives through First Eagle’s Napier Park business. Napier Park’s collateralized loan obligation business manages approximately $27 billion and operates in the U.S. and Europe, while its alternative-credit operations are diversified across underlying asset classes, investment vehicles and structures.
Brown said First Eagle’s investment teams will retain their brands, investment autonomy and investment processes following the transaction. He said the approach is intended to make the transition seamless for clients.
First Eagle, founded in 1864 and headquartered in New York since 1937, employs 195 investment professionals, according to the presentation. Victory Capital said 92% of First Eagle’s rated mutual fund and ETF assets were in strategies carrying overall Morningstar ratings of four or five stars as of July 31, 2026.
Broader Distribution and More Diversified Platform The company said the transaction would broaden its presence across U.S. intermediary, U.S. institutional and international distribution channels. First Eagle’s products are used by approximately 103,000 U.S. financial advisers and roughly 3 million end investors, Brown said. The firm also reaches 83% of Barron’s Top 1,500 financial advisers and serves about 740 institutional clients globally.
Both companies already work with French asset manager Amundi in international markets. Brown said Victory Capital intends to build on its existing strategic distribution relationship with Amundi using a broader set of investment products after closing.
On a pro forma basis, no single asset class would account for more than 27% of the combined company’s business, according to Victory Capital. Brown said that diversification should make the company “stronger” and “more durable” across varying market environments and cycles.
Synergies, Financing and Leverage President, Chief Financial Officer and Chief Administrative Officer Michael Policarpo said Victory Capital expects approximately $280 million in annual net expense synergies on a full run-rate basis. The company expects to fully realize those savings within two years of closing, with a substantial portion achieved in the first year.
The projected synergies represent about 27% of First Eagle’s estimated 2027 expense base, Policarpo said. He added that Victory Capital has not incorporated revenue synergies into its earnings accretion forecast.
Victory Capital expects the acquisition to be approximately 35% accretive to its estimated 2027 adjusted earnings per share, including the anticipated full run-rate expense synergies. Policarpo said the company expects the transaction to close late enough in the first quarter of 2027 that the 2027 accretion measure is the relevant comparison period.
Approximately $2 billion of consideration will be paid through newly issued Victory Capital equity. Victory Capital will assume about $575 million of First Eagle senior secured notes carrying a 7.25% coupon. The remaining consideration will be paid in cash. Committed financing includes a new $3.5 billion term loan B, about $950 million in new secured notes and an increase in the company’s revolving credit facility to $200 million from $100 million. Genstar, which will receive approximately 14.6% of Victory Capital’s total economic interest through common stock and non-voting convertible preferred stock, will be subject to a three-year lockup. Its voting interest will be capped at 4.9%. Victory Capital’s board is expected to expand to 11 directors, including two Genstar designees, while Brown will remain chairman and CEO.
Victory Capital expects net leverage of approximately 3.2 times pro forma adjusted EBITDA at closing, inclusive of full run-rate synergies. Policarpo said the company expects leverage to decline to approximately two times by the end of 2028 through the combined company’s free cash flow generation.
About Victory Capital (NASDAQ:VCTR)Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Should You Invest $1,000 in Victory Capital Right Now?Before you consider Victory Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Victory Capital wasn't on the list.
While Victory Capital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a great growth stock is not easy at all.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks.
Victory Capital Holdings (VCTR - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this investment management firm a great growth pick right now.
Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Victory Capital is 9.5%, investors should actually focus on the projected growth. The company's EPS is expected to grow 24.3% this year, crushing the industry average, which calls for EPS growth of 9.2%.
Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.
Right now, year-over-year cash flow growth for Victory Capital is 52.9%, which is higher than many of its peers. In fact, the rate compares to the industry average of 17%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.9% over the past 3-5 years versus the industry average of 9%.
Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for Victory Capital have been revising upward. The Zacks Consensus Estimate for the current year has surged 3.4% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made Victory Capital a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that Victory Capital is a potential outperformer and a solid choice for growth investors.
Victory Capital Holdings, Inc. (VCTR) announced an acquisition of First Eagle Investments Wednesday, a deal that will create a combined asset manager with $571 billion in client assets, the companies said.
Key Takeaways: Victory Capital will pay about $7 billion for First Eagle, creating a $571 billion asset manager. First Eagle will keep its brand and investment teams under Victory Capital’s ownership. The deal is expected to close by the end of the first quarter of 2027, pending approvals. The acquisition adds First Eagle’s multi-asset, equity and fixed income funds to Victory Capital’s lineup. It also brings a $41 billion alternative credit platform, including collateralized loan obligations, a type of investment built from bundled business loans. Genstar Capital and First Eagle employees are selling the privately held firm for cash and stock, according to the companies.
Victory Capital will pay about $7 billion for First Eagle. The price includes $4.4 billion in cash and $2 billion in new company stock, according to the announcement. It will also assume $575 million in First Eagle bonds carrying a 7.25% rate, which mature in 2032.
Genstar will own about 14.6% of Victory Capital once the deal closes, the companies said. Its voting power will be capped at 4.9%, with the rest held as non-voting preferred shares locked up for three years. Genstar will also get two seats on Victory Capital’s board, which will grow to 11 directors.
David Brown, Victory Capital’s chairman and chief executive, called the deal a fit for the company’s lineup. He pointed to First Eagle’s multi-asset and alternative credit funds as complementary additions. Brown said the combined firm will reach more clients through its U.S. distribution network and partnership with Amundi overseas.
First Eagle will keep its own brand, investment teams and processes once the deal closes. That mirrors the approach Victory Capital has used in earlier acquisitions. Mehdi Mahmud, First Eagle’s president and chief executive, said the firm’s investment philosophy will not change under new ownership.
Acquisition Adds Scale and New Asset Classes The deal fits a broader wave of consolidation this year. Cinthia Murphy, VettaFi’s director of research, wrote recently that acquisitions have become a popular path to scale in asset management. She cited T. Rowe Price (TROW) buying F/m Investments and Goldman Sachs (GS) acquiring NEOS Investments and Innovator ETFs.
Murphy pointed to that competition as a sign of how crowded the ETF market has become. Issuer ranks have grown from 39 in 2010 to about 350 today, spread across more than 500 ETF brands. That crowding has pushed the top three issuers’ combined share of U.S.-listed ETF assets down to about 71%, from more than 90% a few years ago. The Victory ETF suite includes the $11 billion VictoryShares Free Cash Flow ETF (VFLO).
See more: The ETF Landgrab Is On: Buy or Build?
First Eagle’s numbers help explain its own appeal. About 92% of First Eagle’s rated mutual fund and ETF assets carry a four- or five-star rating from Morningstar, according to the announcement. The firm posted positive net flows in each of the last three years. It remains net flow positive so far in 2026.
Victory Capital expects the deal to add about 35% to its adjusted earnings per share in 2027, a figure that includes roughly $280 million in annual cost savings, the companies said. As a result, the combined firm would generate about $3.2 billion in annual revenue.
The deal is expected to close by the end of the first quarter of 2027, according to the announcement. It still needs regulatory approvals, client consents and a vote from Victory Capital shareholders. BofA Securities and RBC Capital Markets have lined up financing that includes a $3.5 billion term loan.
First Eagle, based in New York, traces its roots to 1864, a history the firm points to in explaining its focus on avoiding permanent losses of client money across market cycles, according to the announcement.
For more news, information, and strategy, visit ETF Trends.
VettaFi LLC (“VettaFi”) is the index provider for VFLO, for which it receives an index licensing fee. However, VFLO is not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of VFLO.
Shares of Victory Capital Holdings (VCTR - Free Report) have been strong performers lately, with the stock up 23.8% over the past month. The stock hit a new 52-week high of $123.24 in the previous session. Victory Capital has gained 91.2% since the start of the year compared to the 8.1% gain for the Zacks Finance sector and the -2.6% return for the Zacks Financial - Investment Management industry.
What's Driving the Outperformance?The stock has a great record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on August 5, 2026, Victory Capital reported EPS of $2.21 versus consensus estimate of $1.81.
For the current fiscal year, Victory Capital is expected to post earnings of $7.89 per share on $1.63 in revenues. This represents a 23.82% change in EPS on a 24.69% change in revenues. For the next fiscal year, the company is expected to earn $8.4 per share on $1.71 in revenues. This represents a year-over-year change of 6.42% and 5.08%, respectively.
Valuation MetricsWhile Victory Capital has moved to its 52-week high in the recent past, investors need to be asking, what is next for the company? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.
On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. Investors should consider the style scores a valuable tool that can help you to pick the most appropriate Zacks Rank stocks based on their individual investment style.
Victory Capital has a Value Score of C. The stock's Growth and Momentum Scores are B and C, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 15.3X current fiscal year EPS estimates, which is a premium to the peer industry average of 12.4X. On a trailing cash flow basis, the stock currently trades at 13.3X versus its peer group's average of 11.1X. Additionally, the stock has a PEG ratio of 0.97. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to consider the stock's Zacks Rank, as this is even more important than the company's VGM Score. Fortunately, Victory Capital currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Victory Capital fits the bill. Thus, it seems as though Victory Capital shares could still be poised for more gains ahead.
How Does VCTR Stack Up to the Competition?Shares of VCTR have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Invesco Ltd. (IVZ - Free Report) . IVZ has a Zacks Rank of #1 (Strong Buy) and a Value Score of B, a Growth Score of C, and a Momentum Score of C.
Earnings were strong last quarter. Invesco Ltd. beat our consensus estimate by 5.97%, and for the current fiscal year, IVZ is expected to post earnings of $2.82 per share on revenue of $5.38 billion.
Shares of Invesco Ltd. have gained 17.5% over the past month, and currently trade at a forward P/E of 11.68X and a P/CF of 4.38X.
The Financial - Investment Management industry is in the top 37% of all the industries we have in our universe, so it looks like there are some nice tailwinds for VCTR and IVZ, even beyond their own solid fundamental situation.
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Victory Capital Holdings, Inc. (NasdaqGS: VCTR) and First Eagle Investments. Under the terms of the proposed transaction, Victory Capital will acquire First Eagle for total consideration of approximately $7.0 billion, comprising approximately $4.4 billion in cash and $2.0 billion in newly issued Victory Capit.
SAN ANTONIO--(BUSINESS WIRE)--Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today reported Total Assets Under Management (AUM) of $345.1 billion, Other Assets of $3.7 billion, and Total Client Assets of $348.8 billion, as of July 31, 2026. For the month of July, Average Total AUM was $343.3 billion, average Other Assets was $3.6 billion, and average Total Client Assets was $346.9 billion. Victory Capital Holdings, Inc. Total Client Assets (unaudited; in mill.
Victory Capital Holdings, Inc. (NASDAQ: VCTR) (âVictory Capitalâ or the âCompanyâ) today reported Total Assets Under Management (AUM) of $345.1 billion,
Victory Capital Holdings, Inc. (NASDAQ:VCTR – Get Free Report)’s stock price reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $87.00 to $101.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Victory Capital traded as high as $110.37 and last traded at $110.65, with a volume of 20430 shares trading hands. The stock had previously closed at $108.16.
A number of other equities analysts also recently issued reports on VCTR. Barclays upped their price target on Victory Capital from $95.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday. Zacks Research raised Victory Capital from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Wall Street Zen upgraded Victory Capital from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. The Goldman Sachs Group restated a “neutral” rating and set a $100.00 target price on shares of Victory Capital in a research note on Friday. Finally, Royal Bank Of Canada upped their target price on Victory Capital from $107.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Victory Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.29.
Check Out Our Latest Research Report on VCTR
Key Victory Capital News Here are the key news stories impacting Victory Capital this week:
Positive Sentiment: Strong earnings and growth profile support the stock. Victory Capital recently reported adjusted earnings of $2.21 per share, well above the $1.79 consensus estimate, while revenue of $435.36 million also exceeded expectations. Zacks cited above-average financial growth as a reason growth investors may consider the shares. Here is Why Growth Investors Should Buy Victory Capital Now Positive Sentiment: Momentum remains strong. VCTR reached a new 52-week high, reflecting continued investor confidence after its earnings outperformance. The stock is trading substantially above its 50-day and 200-day moving averages, signaling strong recent price momentum. Victory Capital Hit a 52 Week High Neutral Sentiment: Insider share dispositions were tied to tax withholding, not discretionary selling. Victory Capital executives, including its CEO, CFO and ETF chief, had shares withheld or disposed of following the vesting of performance-based restricted stock. The transactions totaled sizable amounts, but the filings indicate they were administrative and non-discretionary rather than a direct signal that management expects the stock to decline. Victory Capital ETF Chief Share Vesting Negative Sentiment: Valuation may limit further gains. GuruFocus estimated VCTR’s GF Value at $97.67, below its recent market price near $111.44, suggesting the stock may be moderately overvalued after its rally. Investors may therefore demand continued earnings growth to justify the premium valuation. Victory Capital Valuation Review Institutional Inflows and Outflows A number of hedge funds have recently bought and sold shares of the stock. Amundi acquired a new position in shares of Victory Capital in the 4th quarter valued at $192,735,000. Bank of New York Mellon Corp acquired a new stake in Victory Capital during the 2nd quarter worth about $42,035,000. FIL Ltd acquired a new stake in Victory Capital during the 4th quarter worth about $26,813,000. Invesco Ltd. grew its stake in Victory Capital by 163.6% during the 3rd quarter. Invesco Ltd. now owns 431,912 shares of the company’s stock valued at $27,971,000 after purchasing an additional 268,061 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Victory Capital by 747.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 299,862 shares of the company’s stock valued at $19,419,000 after purchasing an additional 264,468 shares during the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
Victory Capital Stock Up 3.0% The business has a fifty day moving average price of $92.36 and a two-hundred day moving average price of $80.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.08.
Victory Capital (NASDAQ:VCTR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.42. Victory Capital had a return on equity of 24.17% and a net margin of 29.57%.The firm had revenue of $435.36 million during the quarter, compared to analysts’ expectations of $386.09 million. On average, equities analysts expect that Victory Capital Holdings, Inc. will post 7.38 earnings per share for the current year.
Victory Capital Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Victory Capital’s dividend payout ratio is 36.76%.
About Victory Capital (Get Free Report)
Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
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On August 10, 2026, Victory Capital Holdings Inc (VCTR) shares rose 3.0%, closing at $111.44. The stock is currently trading within a 52-week range of $57.03 to
Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.
That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Our proprietary system currently recommends Victory Capital Holdings (VCTR - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
While there are numerous reasons why the stock of this investment management firm is a great growth pick right now, we have highlighted three of the most important factors below:
Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Victory Capital is 9.5%, investors should actually focus on the projected growth. The company's EPS is expected to grow 17.8% this year, crushing the industry average, which calls for EPS growth of 7.3%.
Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for Victory Capital is 52.9%, which is higher than many of its peers. In fact, the rate compares to the industry average of 17%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 14.9% over the past 3-5 years versus the industry average of 9%.
Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for Victory Capital. The Zacks Consensus Estimate for the current year has surged 2.5% over the past month.
Bottom LineVictory Capital has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #1 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination indicates that Victory Capital is a potential outperformer and a solid choice for growth investors.
Shares of Victory Capital Holdings (VCTR - Free Report) have been strong performers lately, with the stock up 17.3% over the past month. The stock hit a new 52-week high of $109.93 in the previous session. Victory Capital has gained 71.4% since the start of the year compared to the 8.5% gain for the Zacks Finance sector and the -5.9% return for the Zacks Financial - Investment Management industry.
What's Driving the Outperformance?The stock has an impressive record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 5, 2026, Victory Capital reported EPS of $2.21 versus consensus estimate of $1.81.
For the current fiscal year, Victory Capital is expected to post earnings of $7.51 per share on $1.6 in revenues. This represents a 17.71% change in EPS on a 22.51% change in revenues. For the next fiscal year, the company is expected to earn $8.14 per share on $1.68 in revenues. This represents a year-over-year change of 8.31% and 5.09%, respectively.
Valuation MetricsThough Victory Capital has recently hit a 52-week high, what is next for Victory Capital? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Victory Capital has a Value Score of C. The stock's Growth and Momentum Scores are B and C, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 14.4X current fiscal year EPS estimates, which is a premium to the peer industry average of 11.9X. On a trailing cash flow basis, the stock currently trades at 11.9X versus its peer group's average of 10.9X. Additionally, the stock has a PEG ratio of 1.24. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks RankWe also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, Victory Capital currently has a Zacks Rank of #1 (Strong Buy) thanks to favorable earnings estimate revisions from covering analysts.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Victory Capital fits the bill. Thus, it seems as though Victory Capital shares could have a bit more room to run in the near term.
How Does VCTR Stack Up to the Competition?Shares of VCTR have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Ameriprise Financial, Inc. (AMP - Free Report) . AMP has a Zacks Rank of #2 (Buy) and a Value Score of A, a Growth Score of C, and a Momentum Score of C.
Earnings were strong last quarter. Ameriprise Financial, Inc. beat our consensus estimate by 3.26%, and for the current fiscal year, AMP is expected to post earnings of $46.12 per share on revenue of $19.91 billion.
Shares of Ameriprise Financial, Inc. have gained 8.9% over the past month, and currently trade at a forward P/E of 11.97X and a P/CF of 13.6X.
The Financial - Investment Management industry is in the top 25% of all the industries we have in our universe, so it looks like there are some nice tailwinds for VCTR and AMP, even beyond their own solid fundamental situation.
California State Teachers Retirement System lifted its position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR – Free Report) by 28.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,699 shares of the company’s stock after purchasing an additional 11,811 shares during the quarter. California State Teachers Retirement System owned 0.08% of Victory Capital worth $3,451,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Victory Capital by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company’s stock worth $1,416,000 after acquiring an additional 1,060 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Victory Capital by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company’s stock valued at $21,199,000 after purchasing an additional 5,685 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Victory Capital by 10.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company’s stock worth $5,688,000 after buying an additional 9,319 shares during the period. Jane Street Group LLC acquired a new stake in Victory Capital during the 1st quarter worth approximately $3,747,000. Finally, Intech Investment Management LLC lifted its stake in Victory Capital by 18.8% in the first quarter. Intech Investment Management LLC now owns 20,442 shares of the company’s stock valued at $1,183,000 after buying an additional 3,237 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.
Wall Street Analysts Forecast Growth VCTR has been the subject of several research reports. Morgan Stanley set a $91.00 price objective on shares of Victory Capital in a research report on Wednesday, July 29th. Zacks Research raised shares of Victory Capital from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Victory Capital from $87.00 to $101.00 and gave the stock a “neutral” rating in a research note on Friday. Wall Street Zen upgraded Victory Capital from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Barclays lifted their price target on Victory Capital from $95.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.29.
Get Our Latest Stock Analysis on Victory Capital
Victory Capital Stock Up 1.3% VCTR stock opened at $108.16 on Friday. The company has a quick ratio of 1.13, 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 $91.83 and a two-hundred day moving average price of $79.92. Victory Capital Holdings, Inc. has a twelve month low of $57.03 and a twelve month high of $109.93. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.26 and a beta of 1.08.
Victory Capital (NASDAQ:VCTR – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.42. Victory Capital had a net margin of 29.57% and a return on equity of 24.17%. The firm had revenue of $435.36 million during the quarter, compared to analysts’ expectations of $386.09 million. Analysts anticipate that Victory Capital Holdings, Inc. will post 7.38 EPS for the current fiscal year.
Victory Capital Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Victory Capital’s dividend payout ratio is 36.76%.
Victory Capital Profile (Free Report)
Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
Recommended Stories Five stocks we like better than Victory Capital Quantum Earnings Week: Winners and Losers Are Finally Emerging Axon’s Post-Earnings Pullback May Be More About Valuation Than Growth Uber Stock Lags in 2026, But Cash Flow and AV Bets Fuel Upside AppLovin Stock Hits 52-Week Low as Analysts Trim Targets, Stay Bullish Want to see what other hedge funds are holding VCTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Victory Capital Holdings, Inc. (NASDAQ:VCTR – Free Report).
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Thomas Michael Sipp, executive vice president of Victory Capital Holdings, Inc. (VCTR +1.28%), reported a non-discretionary disposition of 18,177 shares on August 5, according to an SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$1.8 millionShares sold18,177Post-transaction shares (directly held)120,628Post-transaction value$12.06 millionTransaction value based on SEC Form 4 weighted average sale price ($99.97); post-transaction value based on the August 5 market close ($99.97).
Key questionsWhat was the motivation behind this $1.8 million disposition?
The transaction was a non-discretionary execution to cover tax liabilities resulting from the vesting of performance-based restricted stock; it does not reflect a change in the insider's fundamental outlook on the company.How does this impact the insider's long-term alignment with shareholders?
Despite the 13% reduction in direct holdings, Sipp maintains a 0.2% ownership interest and holds nearly 123,000 additional derivative securities, including vested and unvested awards.What has been the recent performance context for the stock?
Victory Capital Holdings shares have delivered a 44% return over the 12-month period ending on the August 5 transaction date, with the stock priced at $106.79 as of the August 6 market close.Are there significant remaining hurdles for the insider's equity?
The vesting event on August 5 was tied to the achievement of the first of four stock price performance hurdles, indicating that a significant portion of the insider's remaining derivative holdings are tied to future price appreciation targets.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$106.79Market Capitalization$6.7 billionRevenue (TTM)$1.6 billionNet Income (TTM)$460.9 millionCompany SnapshotVictory Capital Holdings operates as a global asset management platform providing comprehensive investment advisory services, fund administration, compliance support, transfer agent functions, and fund distribution to institutional and individual clients.The company generates revenue through its diversified asset management business model, delivering sophisticated investment strategies and administrative services across multiple client segments, including institutions, financial intermediaries, retirement plan sponsors, and individual investors.Victory Capital serves a broad institutional and retail client base, positioning itself as a multi-platform asset manager with capabilities spanning investment advisory, fund operations, and distribution infrastructure.Victory Capital Holdings represents a significant player in the global asset management industry with $6.7 billion in market capitalization and $1.6 billion in TTM revenue. The company has demonstrated strong financial performance with TTM net income of $460.9 million. Operating from San Antonio with 699 employees, Victory Capital leverages its integrated platform approach to deliver comprehensive asset management solutions across institutional and retail channels, positioning itself competitively within the financial services sector.
What this transaction means for investorsVictory Capital just posted a record quarter, growing revenue 24% to $435 million and pulling in $4.2 billion of net long-term inflows, the money clients added beyond what they pulled out. That performance is what lifted the stock enough to trigger Sipp's shares to vest in the first place, and the sale in this filing is only the tax being withheld on that vesting, not a decision he made about the price.
The engine has been fueled by the firm's steady diversification, with its ETF assets up 54% over the past year and its international book now above $60 billion. CEO David Brown called the quarter "a landmark period for Victory Capital, which helped the stock clear the first of four price hurdles to trigger this vesting. The three still ahead are the thing to track; Sipp and his colleagues only collect the rest of these awards if shares keep climbing, which aligns them squarely with anyone buying now. And for now their performance has led to record prices, helping shares climb over 50% this past year alone, far outpacing the broader market.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Nina Gupta, the chief legal officer of Victory Capital Holdings, Inc. (VCTR +1.28%), reported a non-discretionary disposition of 9,732 shares of common stock on August 5, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$973,000Shares sold (directly held)9,732Post-transaction shares (directly held)245,350Post-transaction value$24.5 millionTransaction value based on SEC Form 4 weighted average sale price ($99.97); post-transaction value based on the August 5 market close ($99.97).
Key questionsDoes this transaction represent a discretionary exit from the stock?
No, the disposition was non-discretionary and executed automatically to fulfill tax withholding requirements upon the vesting of restricted stock; it does not reflect the insider's outlook on the company's valuation.What performance criteria triggered the underlying vesting event?
The shares vested after the Compensation Committee of the Board of Directors confirmed the achievement of the first of four established stock price performance hurdles linked to a March 2026 equity grant.How has the stock performed leading up to this vesting?
The equity has experienced a one-year return of 44% as of the August 5 transaction date, contributing to the achievement of the performance hurdles required for the CLO's shares to vest.What is the insider's remaining direct equity exposure?
The reporting person retains a direct ownership stake of 245,350 shares, valued at $24.5 million based on the August 5 market close, alongside significant outstanding derivative awards.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$106.79Market Capitalization$6.7 billionRevenue (TTM)$1.6 billionNet Income (TTM)$460.9 millionCompany SnapshotVictory Capital Holdings operates as a global asset management platform providing comprehensive investment advisory services, fund administration, compliance support, transfer agent functions, and fund distribution to institutional and individual clients.The company generates revenue through its diversified asset management business model, delivering sophisticated investment strategies and administrative services across multiple client segments, including institutions, financial intermediaries, retirement plan sponsors, and individual investors.Victory Capital serves a broad institutional and retail client base, positioning itself as a multi-platform asset manager with capabilities spanning investment advisory, fund operations, and distribution infrastructure.Victory Capital Holdings represents a significant player in the global asset management industry with $6.7 billion in market capitalization and $1.6 billion in TTM revenue. The company has demonstrated strong financial performance with TTM net income of $460.9 million, reflecting a net profit margin of approximately 28.8%. Operating from San Antonio, Victory Capital leverages its integrated platform approach to deliver comprehensive asset management solutions across institutional and retail channels, positioning itself competitively within the financial services sector.
What this transaction means for investorsLike other executives on the same day, Gupta's shares vested because Victory Capital's stock cleared a preset price target, and the only reason any left her hands was the tax owed on that vesting. That’s ultimately a good sign for investors, because management has clearly been executing on performance and has plenty of reasons to keep doing so with additional restricted stock that has yet to vest.
Powering the newly vested shares, Victory has been posting record results. In the latest reported quarter, the firm grew revenue 24% to $435 million with a $346 billion in client assets, finished absorbing its Pioneer Investments acquisition, and pulled the full $110 million in expected cost savings from it. CEO David Brown said inorganic growth "remains a strategic priority," and management has spoken openly about an active deal pipeline aimed at eventually reaching $1 trillion in assets. So while there are vesting events to keep an eye on, an important needle-mover will be whether Victory lands its next acquisition, since buying its way toward that trillion-dollar goal is the strategy management keeps pointing to.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Mannik S. Dhillon, president of investment franchises & solutions and head of ETFs for Victory Capital Holdings, Inc. (VCTR +1.28%), disposed of 6,452 shares of common stock on August 5, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$645,000Shares sold6,452Post-transaction shares (directly held)307,686Post-transaction value$30.76 millionTransaction value based on SEC Form 4 weighted average sale price ($99.97); post-transaction value based on the August 5 market close ($99.97).
Key questionsWhat was the nature of this share disposal?
The transaction was a non-discretionary disposition of 6,452 shares to cover tax liabilities associated with the vesting of performance-based restricted stock and does not reflect a change in the insider's discretionary outlook on the company.What milestone triggered the underlying vesting event?
The shares vested on August 5, following approval by the Compensation Committee regarding the achievement of the first of four stock price performance hurdles established in March 2026.Does the insider retain additional equity exposure?
Yes, in addition to the 307,686 shares held directly, the insider also holds 49,171 derivative securities, according to the filing.How has the stock performed leading up to this vesting?
As of August 5, the company’s stock had generated a one-year total return of 44%.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$106.79Market Capitalization$6.7 billionRevenue (TTM)$1.6 billionNet Income (TTM)$460.9 millionCompany SnapshotVictory Capital Holdings operates as a global asset management platform providing comprehensive investment advisory services, fund administration, compliance support, transfer agent functions, and fund distribution to institutional and individual clients.The company generates revenue through its diversified asset management business model, delivering sophisticated investment strategies and administrative services across multiple client segments, including institutions, financial intermediaries, retirement plan sponsors, and individual investors.Victory Capital serves a broad institutional and retail client base, positioning itself as a multi-platform asset manager with capabilities spanning investment advisory, fund operations, and distribution infrastructure.Victory Capital Holdings represents a significant player in the global asset management industry with $6.7 billion in market capitalization and $1.6 billion in TTM revenue. The company has demonstrated strong financial performance with TTM net income of $460.9 million. Operating from San Antonio with 699 employees, Victory Capital leverages its integrated platform approach to deliver comprehensive asset management solutions across institutional and retail channels, positioning itself competitively within the financial services sector.
What this transaction means for investorsDhillon runs the piece of Victory Capital that has been among its fastest growing (if not the fastest growing), so it is fitting that his shares converted because the stock hit a price target that this growth helped drive. The vesting brought the usual tax withholding, nothing more, and he keeps better than 307,000 shares, with more riding on price hurdles still unmet.
The business he leads is a good part of why the targets are getting hit. Victory's exchange-traded fund assets climbed 54% over the past year to $23.2 billion, growing at a 27% organic clip, one of the faster-expanding corners of a firm that just posted record revenue of $435 million. Its broader diversification shows in the mix, with U.S. equity now only about a third of client assets. CEO David Brown called the quarter "a landmark period for Victory Capital." Ultimately, Dhillon converted 6,452 shares to cover taxes on a milestone his own ETF business helped reach, and held on to a stake worth roughly 50 times that, which is the whole of what this filing says.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Victory Capital NASDAQ: VCTR reported record second-quarter results for 2026, supported by higher client assets, record long-term net inflows, expanded profitability and the completion of its Pioneer Investments integration.
Total client assets reached $346 billion at June 30, up 11% from the first quarter and 15% from a year earlier. Long-term gross flows rose 17% sequentially and 43% year over year to $22 billion, while net long-term inflows totaled a record $4.2 billion.
Chairman and CEO David Brown said the company’s results reflected investments in distribution, technology, products and personnel, as well as investment performance across its franchises and solutions platform.
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Record Revenue, Earnings and Margins Revenue increased 12% from the prior quarter and 24% from a year earlier to a record $435.4 million. The company reported adjusted EBITDA of $243 million and an adjusted EBITDA margin of 55.8%, both records.
Adjusted net income with tax benefit was $182.9 million, or $2.21 per diluted share, up 21% sequentially and 41% from the second quarter of 2025. President, Chief Financial and Administrative Officer Michael Policarpo said adjusted earnings per diluted share with tax benefit had increased at an approximately 23% compound annual growth rate since Victory Capital’s 2018 IPO.
Following completion of the Pioneer integration, the company raised its long-term adjusted EBITDA margin guidance from 49%-50%. Policarpo said Victory Capital views 50% as an appropriate long-term normalized margin through a full market cycle, while preserving capacity to invest in its business and growth initiatives.
The company said it fully realized $110 million in net run-rate expense synergies from the Pioneer Investments acquisition. Total operating expenses were $241.6 million during the quarter, while cash compensation represented 22.9% of revenue. Policarpo said more than two-thirds of operating expenses are variable, providing flexibility across market environments.
Performance, ETF and International Momentum Brown said investment performance remained central to client retention and growth. As of June 30, 57 Victory Capital mutual funds and ETFs held four- or five-star overall Morningstar ratings, representing 60% of the company’s rated assets under management.
71% of AUM outperformed benchmarks over one year. 68% outperformed over three years. 65% outperformed over five years. 81% outperformed over 10 years. The company’s ETF business continued to expand. ETF AUM ended the quarter at $23.2 billion, up 24% year to date and 54% from a year earlier. Second-quarter ETF net flows were $1.2 billion, bringing the year-to-date total to $2.5 billion and representing an annualized organic growth rate of 27%.
Victory’s flagship free-cash-flow ETF, VFLO, ended the quarter with $7.8 billion in assets. Brown said the fund has outperformed the S&P 500, Russell 1000 Growth and Russell 1000 Value indexes during its three years since launch, while carrying no exposure to the “Mag Seven” stocks. The fund has also received a five-star overall Morningstar rating, he said.
Victory Capital said its ETFs are now available across Asia and, beginning in the second quarter, Latin America. The company plans to use its relationship with Amundi to continue expanding global ETF distribution.
International client AUM totaled $62.6 billion across 61 countries. The international business was net-flow positive during the quarter, year to date and cumulatively since the Pioneer acquisition closed, according to management. Brown said flows have been strongest across Asia and Europe, with emerging opportunities in the Middle East. Fixed income, global strategies and multi-asset products have contributed to international demand.
The company now sub-advises 23 UCITS products spanning equity, fixed-income and global multi-asset strategies, with additional UCITS launches planned in 2026 based on demand from Amundi’s local distribution teams.
Flow Outlook and Growth Strategy Management said the positive flow trend extended into the third quarter. Brown described the momentum as broad-based rather than driven by a single client or outsized mandate. He cited activity in short-term fixed-income products, active fixed-income ETFs and demand across the Victory Income Investors and Pioneer franchises.
Policarpo said all of the company’s major channels—U.S. intermediary, U.S. institutional and international—contributed to the second-quarter results. Pioneer Investments, RS Global, RS Value and VictoryShares ETFs were among the franchises that generated positive long-term net inflows.
Victory Capital also reported a significant pipeline of mandates that have been won but not yet funded. Brown said the pipeline was among the largest the company has had and included fixed income, ETFs, global and multi-asset strategies across international, intermediary and institutional channels. The company did not provide a dollar figure for the pipeline.
Brown emphasized that acquisitions remain Victory Capital’s top capital-allocation priority. The company has completed eight acquisitions over the past 13 years and is targeting $1 trillion in assets under management over time. Brown said Victory remains active in evaluating significant acquisition opportunities but is not under pressure to complete a transaction quickly.
The company ended the quarter with $70 million of cash and a net leverage ratio of 1.0 times adjusted EBITDA. During the quarter, Victory repriced its Term Loan B, which Policarpo said will reduce annual interest expense by about $2.5 million. Its $100 million revolver remained undrawn.
Shareholder Returns Victory Capital returned $138 million to shareholders during the second quarter, including repurchases of 1.1 million shares. Year to date, the company repurchased 3.2 million shares, exceeding its total repurchases in all of 2025.
The board also declared a quarterly cash dividend of $0.50 per share, payable Sept. 25 to shareholders of record as of Sept. 10.
Brown said share repurchases would remain opportunistic and secondary to strategic acquisitions, while the dividend represents an additional component of the company’s capital-return strategy.
About Victory Capital (NASDAQ:VCTR)Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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For the quarter ended June 2026, Victory Capital Holdings (VCTR - Free Report) reported revenue of $435.36 million, up 24% over the same period last year. EPS came in at $2.21, compared to $1.57 in the year-ago quarter.
The reported revenue represents a surprise of +12.82% over the Zacks Consensus Estimate of $385.88 million. With the consensus EPS estimate being $1.81, the EPS surprise was +22.1%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Victory Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ending Assets Under Management: $342.45 billion versus $342.45 billion estimated by three analysts on average.Ending assets under management - Fixed Income: $83.41 billion versus the three-analyst average estimate of $83.41 billion.Ending assets under management - Money Market/ Short-term: $3.59 billion versus $3.58 billion estimated by three analysts on average.Ending assets under management - Alternative Investments: $3.37 billion compared to the $3.37 billion average estimate based on three analysts.Ending assets under management - U.S. Small Cap Equity: $11.33 billion versus $11.33 billion estimated by three analysts on average.Ending assets under management - U.S. Mid Cap Equity: $31.29 billion versus the three-analyst average estimate of $31.29 billion.Ending assets under management - U.S. Large Cap Equity: $66.39 billion versus $66.39 billion estimated by three analysts on average.Ending assets under management - Solutions: $105.64 billion versus the three-analyst average estimate of $105.64 billion.Ending assets under management - Global/Non-U.S. Equity: $37.44 billion compared to the $37.44 billion average estimate based on three analysts.Net client cash flows - Fixed Income: $2.67 billion versus $2.3 billion estimated by two analysts on average.Revenue- Investment management fees: $362.24 million versus $310.27 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +28.3% change.Revenue- Fund administration and distribution fees: $73.12 million versus the three-analyst average estimate of $75.6 million. The reported number represents a year-over-year change of +6.1%.View all Key Company Metrics for Victory Capital here>>>
Shares of Victory Capital have returned +14.7% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
SAN ANTONIO--(BUSINESS WIRE)--Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or “the Company”) today reported record financial results for the quarter ended June 30, 2026.
"The second quarter was a landmark period for Victory Capital, reporting record revenue, Adjusted EBITDA, Adjusted EBITDA margin, and earnings per share,” said David C. Brown, Chairman and Chief Executive Officer. “We also achieved record total client assets, supported by an all-time high in long-term quarterly gross sales. Notably, we achieved $4.2 billion in positive long-term net flows for the quarter and have positive long-term net flows year to date, through June 30. This reflects the strategic investments we have made, the momentum we have built across our distribution channels, and the strength of our operating platform.
“Investment performance remained excellent during the quarter. As of June 30, 2026, 71%, 68%, 65%, and 81% of our AUM outperformed benchmarks over the respective 1-, 3-, 5-, and 10-year periods. In addition, 60% of our rated AUM in mutual funds and ETFs was rated four or five stars overall by Morningstar.
“The drivers of our record gross sales and positive net flows this quarter were broad-based. Our international distribution efforts, our U.S. institutional channel, and, within our intermediary channel, our VictoryShares ETF platform each drove meaningful flows, together producing a result that showcases the breadth and depth of our distribution platform.
"We maintained a consistent fee rate and our industry-leading margins for the quarter. Our Adjusted EBITDA margin highlights the durability of our platform and the discipline we apply across every dimension of our business.
"We continued to return capital to shareholders. We returned $138 million through share repurchases of 1.1 million shares of VCTR common stock and dividends paid during the quarter.
“Inorganic growth remains a strategic priority. The integration of Pioneer Investments is now complete, and the full run-rate of net expense synergies has been fully recognized. Our pipeline is full and active, our standards remain high, and we only pursue transactions that make our Company better.
"As always, we continue to focus on serving our clients, which is our top priority."
The table below presents AUM, and certain GAAP and non-GAAP (“adjusted”) financial results. Due to rounding, AUM values and other amounts in this press release may not add up precisely to the totals provided.
(in millions except per share amounts or as otherwise noted)
Tax benefit of goodwill and acquired intangible assets 10.7
10.5
10.3
21.2
20.4
Adjusted net income with tax benefit 182.9
153.2
132.8
336.1
220.9
Adjusted net income with tax benefit per diluted share4 $
2.21
$
1.82
$
1.57
$
4.02
$
2.96
AUM, Flows and Investment Performance
At June 30, 2026, Victory Capital had total client assets of $346.1 billion, assets under management of $342.5 billion, and other assets of $3.6 billion. Total AUM increased by $32.7 billion to $342.5 billion at June 30, 2026, compared with $309.8 billion at March 31, 2026. The increase was primarily due to positive market action of $28.5 billion and net inflows of $4.1 billion.
As of June 30, 2026, Victory Capital offered 189 investment strategies through its multiple autonomous Investment Franchises and Solutions Platform. The table below presents outperformance against benchmarks by AUM as of June 30, 2026.
Percentage of AUM Outperforming Benchmark Trailing
Trailing
Trailing
Trailing
1-Year
3-Years
5-Years
10-Years
71%
68%
65%
81%
Second Quarter 2026 Compared with First Quarter 2026
Revenue increased 12.2% to $435.4 million in the second quarter, compared with $388.0 million in the first quarter, primarily due to higher average AUM and crystallization of certain annual fees over the comparable period. GAAP operating margin expanded by 350 basis points in the second quarter to 44.5%, up from 41.0% in the first quarter, due to an increase in revenue and $8.3 million decrease in acquisition-related costs, partially offset by an increase in variable operating expenses as a result of an increase in operating results. Second quarter GAAP net income increased 24.3% to $139.4 million, up from $112.1 million in the prior quarter.
Adjusted net income with tax benefit increased 19.4% to $182.9 million, or $2.21 per diluted share, in the second quarter, up from $153.2 million, or $1.82 per diluted share, in the first quarter. Adjusted EBITDA increased $38.7 million to $242.7 million in the second quarter compared to $204.0 million in the first quarter. Adjusted EBITDA margin expanded 320 basis points in the second quarter of 2026 to 55.8% compared with 52.6% in the prior quarter.
Second Quarter 2026 Compared with Second Quarter 2025
Revenue for the three months ended June 30, 2026, increased 24.0% to $435.4 million, compared with $351.2 million in the same quarter of 2025 as a result of higher average AUM over the comparable period.
Operating expenses were $241.6 million compared with $257.0 million in last year’s second quarter reflecting decreases in acquisition-related and restructuring and integration costs of $26.4 million and $11.4 million, respectively, partially offset by increases in variable operating expenses that rose as a result of the higher average AUM. GAAP operating margin expanded 1,770 basis points to 44.5% in the second quarter, from 26.8% in the same quarter of 2025. GAAP net income increased 137.3% to $139.4 million in the second quarter compared with $58.7 million in the same quarter of 2025.
Adjusted net income with tax benefit increased 37.7% to $182.9 million, or $2.21 per diluted share, in the second quarter, compared with $132.8 million, or $1.57 per diluted share in the same quarter last year. Adjusted EBITDA increased 36.0% to $242.7 million, compared with $178.5 million in the same quarter of last year. Year-over-year, adjusted EBITDA margin expanded 500 basis points to 55.8% in the second quarter of 2026, compared with 50.8% in the same quarter last year.
Six Months Ended June 30, 2026 Compared with Six Months Ended June 30, 2025
On April 1, 2025, the Company completed the acquisition of Amundi US and reintroduced the brand Pioneer Investments for the acquired business and investment products. Year-over-year results reflect the acquisition of Amundi US, which closed on April 1, 2025. Revenue for the six months ended June 30, 2026, increased 44.2% to $823.4 million, compared with $570.8 million in the same period of 2025 as a result of higher average AUM over the comparable period.
GAAP operating margin expanded 1,010 basis points, in the six months ended June 30, 2026 to 42.9%, up from 32.8% in the same period of 2025, due to higher variable operating expenses as a result of the higher average AUM and an expanded business partially offset by decreases in acquisition-related and restructuring and integration costs of $27.5 million and $9.4 million, respectively, primarily related to the acquisition of Amundi US in 2025. Six months ended June 30, 2026 GAAP net income increased 108.4% to $251.5 million, up from $120.7 million in the prior period.
Adjusted net income with tax benefit increased 52.2% to $336.1 million, or $4.02 per diluted share, in the six months ended June 30, 2026, compared with $220.9 million, or $2.96 per diluted share in the same period last year. Adjusted EBITDA increased 51.5% to $446.7 million, compared with $294.9 million in the same period of last year. Year-over-year, adjusted EBITDA margin expanded 260 basis points to 54.3% in the first half of 2026, compared with 51.7% in the same first half of last year.
Balance Sheet / Capital Management
The total debt outstanding as of June 30, 2026 was approximately $978 million.
For the three months ended June 30, 2026, the Company repurchased approximately 1.1 million shares of Common Stock.
The Company’s Board of Directors approved a regular quarterly cash dividend of $0.50 per share. The dividend is payable on September 25, 2026, to shareholders of record on September 10, 2026.
Conference Call, Webcast and Slide Presentation
The Company will host a conference call tomorrow morning, August 6, at 8:00 a.m. ET to discuss the results. Analysts and investors may participate in the question-and-answer session. To participate in the conference call, please call 1-833-461-5787 (domestic) or 1-585-542-9983 (international), shortly before 8:00 a.m. ET and reference the Meeting ID 504 021 405. A live, listen-only webcast will also be available via the investor relations section of the Company’s website at https://ir.vcm.com. Prior to the call, a supplemental slide presentation that will be used during the conference call will be available on the Events and Presentations page of the Company’s investor relations website. For anyone who is unable to join the live event, an archive of the webcast will be available for replay shortly after the call concludes.
About Victory Capital
Victory Capital (NASDAQ: VCTR) is a diversified global asset management firm with $346.1 billion in total client assets, as of June 30, 2026. We serve institutional, intermediary, and individual clients through our Investment Franchises and Solutions Platform, which manage specialized investment strategies across traditional and alternative asset classes. Our differentiated approach combines the power of investment autonomy with the support of a robust, fully integrated operational and distribution platform. Clients have access to focused, top-tier investment talent equipped with comprehensive resources designed to deliver competitive long-term performance.
Victory Capital is headquartered in San Antonio, Texas. To learn more, visit www.vcm.com or follow us on Facebook, Twitter (X), and LinkedIn.
FORWARD-LOOKING STATEMENTS
This document may contain forward-looking statements within the meaning of applicable U.S. federal and non-U.S. securities laws. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “assume,” “budget,” “continue,” “estimate,” “future,” “objective,” “outlook,” “plan,” “potential,” “predict,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof and include, but are not limited to, statements regarding the outlook for Victory Capital’s future business and financial performance. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond Victory Capital's control and could cause Victory Capital's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward looking statements.
Although it is not possible to identify all of these risks and factors, they include, among others, the following: reductions in the assets under management (“AUM”) based on investment performance, client withdrawals, difficult market conditions and other factors such as the ongoing conflicts and potential military conflicts in Iran, Ukraine, Venezuela, China/Taiwan, and/or the Middle East, a pandemic, tariffs or trade restrictions; the nature of the Company’s contracts and investment advisory agreements; the Company's ability to maintain historical returns and sustain our historical growth; the Company's dependence on third parties to market our strategies and provide products or services for the operation of our business; the Company's ability to retain key investment professionals or members of our senior management team; the Company's reliance on the technology systems supporting our operations; the Company's ability to successfully acquire and integrate new companies; risks associated with expected benefits of the Amundi US transaction and the related impact on the Company’s business; the concentration of the Company’s investments in long only small- and mid-cap equity and U.S. clients; risks and uncertainties associated with non-U.S. investments; the Company's efforts to establish and develop new teams and strategies; the ability of the Company’s investment teams to identify appropriate investment opportunities; the Company's ability to limit employee misconduct; the Company's ability to meet the guidelines set by our clients; the Company's exposure to potential litigation (including administrative or tax proceedings) or regulatory actions; the Company's ability to implement effective information and cyber security policies, procedures and capabilities; the Company's substantial indebtedness; the potential impairment of the Company’s goodwill and intangible assets; disruption to the operations of third parties whose functions are integral to the Company’s ETF platform; the Company's determination that we are not required to register as an “investment company” under the Investment Company Act of 1940; the fluctuation of the Company’s expenses; the Company's ability to respond to recent trends in the investment management industry; the level of regulation on investment management firms and the Company’s ability to respond to regulatory developments; the competitiveness of the investment management industry; and other risks and factors included, but not limited to, those listed under the caption “Risk Factors” in Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on February 26, 2026, which is accessible on the SEC’s website at www.sec.gov.
In light of these risks, uncertainties and other factors, the forward-looking statements contained in this press release might not prove to be accurate. All forward-looking statements speak only as of the date made and Victory Capital undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Victory Capital Holdings, Inc. and Subsidiaries
Unaudited Consolidated Statements of Operations
(in thousands except per share data and percentages)
For the Three Months Ended
For the Six Months Ended
June 30,
March 31,
June 30,
June 30,
June 30,
2026
2026
2025
2026
2025
Revenue Investment management fees $
362,243
$
316,369
$
282,306
$
678,612
$
455,607
Fund administration and distribution fees 73,118
71,620
68,906
144,738
115,207
Total revenue 435,361
387,989
351,212
823,350
570,814
Expenses Personnel compensation and benefits 125,500
105,855
108,918
231,355
165,054
Distribution and other asset-based expenses 68,590
67,410
62,039
136,000
97,516
General and administrative 22,915
20,615
23,381
43,530
37,709
Depreciation and amortization 20,585
20,576
21,794
41,161
29,226
Change in value of consideration payable for acquisition of business 2,041
3,537
1,092
5,578
4,498
Acquisition-related costs (653
)
7,658
25,780
7,005
34,530
Restructuring and integration costs 2,634
3,153
13,994
5,787
15,159
Total operating expenses 241,612
228,804
256,998
470,416
383,692
Income from operations 193,749
159,185
94,214
352,934
187,122
Operating margin 44.5
%
41.0
%
26.8
%
42.9
%
32.8
%
Other income (expense) Interest income and other income 7,721
2,756
6,006
10,477
6,710
Interest expense and other financing costs (12,192
)
(14,081
)
(13,234
)
(26,273
)
(26,445
)
Loss on debt extinguishment (2,028
)
—
—
(2,028
)
—
Total other expense, net (6,499
)
(11,325
)
(7,228
)
(17,824
)
(19,735
)
Income before income taxes 187,250
147,860
86,986
335,110
167,387
Income tax expense (47,846
)
(35,720
)
(28,252
)
(83,566
)
(46,678
)
Net income $
139,404
$
112,140
$
58,734
$
251,544
$
120,709
Preferred stock dividends (10,018
)
(9,769
)
(9,673
)
(19,788
)
(9,673
)
Income attributable to Preferred stockholders (23,969
)
(16,846
)
(2,985
)
(40,743
)
(5,334
)
Net income attributable to common shareholders $
105,417
$
85,525
$
46,076
$
191,013
$
105,702
Earnings per share of common stock Basic $
1.70
$
1.34
$
0.69
$
3.04
$
1.61
Diluted 1.68
1.33
0.68
3.01
1.59
Weighted average number of shares outstanding Basic 62,151
63,635
67,239
62,889
65,484
Diluted 62,782
64,388
67,980
63,593
66,358
Dividends declared per share $
0.50
$
0.49
$
0.49
$
0.99
$
0.96
Victory Capital Holdings, Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures1
(unaudited; in thousands except per share data and percentages)
For the Three Months Ended
For the Six Months Ended
June 30,
March 31,
June 30,
June 30,
June 30,
2026
2026
2025
2026
2025
Net income (GAAP) $
139,404
$
112,140
$
58,734
$
251,544
$
120,709
Income tax expense (47,846
)
(35,720
)
(28,252
)
(83,566
)
(46,678
)
Income before income taxes $
187,250
$
147,860
$
86,986
$
335,110
$
167,387
Interest expense 12,283
13,658
12,200
25,941
24,721
Depreciation 2,288
2,279
3,236
4,567
5,404
Other business taxes 431
(555
)
693
(124
)
1,615
Amortization of acquisition-related intangible assets 18,297
18,297
18,558
36,594
23,822
Share-based compensation 10,835
3,586
2,107
14,421
3,160
Acquisition, restructuring and exit costs 8,716
18,699
53,990
27,415
67,311
Debt issuance costs 2,617
196
755
2,813
1,504
Adjusted EBITDA $
242,717
$
204,020
$
178,525
$
446,737
$
294,924
Adjusted EBITDA margin 55.8
%
52.6
%
50.8
%
54.3
%
51.7
%
Net income (GAAP) $
139,404
$
112,140
$
58,734
$
251,544
$
120,709
Adjustment to reflect the operating performance of the Company Other business taxes 431
(555
)
693
(124
)
1,615
Amortization of acquisition-related intangible assets 18,297
18,297
18,558
36,594
23,822
Share-based compensation 10,835
3,586
2,107
14,421
3,160
Acquisition, restructuring and exit costs 8,716
18,699
53,990
27,415
67,311
Debt issuance costs 2,617
196
755
2,813
1,504
Tax effect of above adjustments (8,142
)
(9,683
)
(12,330
)
(17,825
)
(17,657
)
Adjusted net income $
172,158
$
142,680
$
122,507
$
314,838
$
200,464
Adjusted net income per diluted share2 $
2.08
$
1.69
$
1.45
$
3.77
$
2.68
Weighted average number of shares outstanding - diluted (GAAP) 62,782
64,388
67,980
63,593
66,358
Weighted average number of shares outstanding - diluted (Non-GAAP)2 82,818
84,341
84,801
83,587
74,723
Tax benefit of goodwill and acquired intangible assets $
10,716
$
10,515
$
10,255
$
21,231
$
20,396
Tax benefit of goodwill and acquired intangible assets per diluted share2 $
0.13
$
0.13
$
0.12
$
0.25
$
0.28
Adjusted net income with tax benefit $
182,874
$
153,195
$
132,762
$
336,069
$
220,860
Adjusted net income with tax benefit per diluted share2 $
2.21
$
1.82
$
1.57
$
4.02
$
2.96
Victory Capital Holdings, Inc. and Subsidiaries
Unaudited Condensed Consolidated Balance Sheets
(In thousands, except for per share amounts)
June 30, 2026 December 31, 2025 Assets Cash and cash equivalents $
70,126
$
163,690
Receivables 244,330
181,141
Prepaid expenses 22,422
16,071
Investments, at fair value 91,672
99,394
Property and equipment, net 21,418
23,833
Goodwill 1,235,940
1,235,940
Other intangible assets, net 2,441,447
2,477,617
Operating lease right-of-use assets 46,610
48,650
Other assets 1,256
1,514
Total assets $
4,175,221
$
4,247,850
Liabilities and stockholders' equity Accounts payable and accrued expenses $
77,525
$
72,387
Accrued compensation and benefits 85,499
86,355
Consideration payable for acquisition of business 53,199
87,564
Deferred tax liability, net 492,135
479,792
Operating lease liabilities 44,165
45,610
Other liabilities 79,662
81,399
Long-term debt, net1 967,974
970,014
Total liabilities 1,800,159
1,823,121
Stockholders' equity Common stock, $0.01 par value per share: 2026 - 600,000 shares authorized, 88,554 shares issued and 61,561 shares outstanding; 2025 - 600,000 shares authorized, 87,867 shares issued and 64,150 shares outstanding 886
879
Preferred stock, $0.01 par value per share: 2026 - 100,000 shares authorized, 20,037 shares issued and outstanding; 2025 - 100,000 shares authorized, 19,937 shares issued and outstanding 200
Other assets market appreciation (depreciation) 343
32
253
Total client assets market appreciation (depreciation) 28,853
(2,765
)
20,500
AUM realizations and distributions (5
)
(456
)
(3
)
Acquired & divested assets / Net transfers3 —
(33
)
111,654
Ending AUM 342,450
309,835
298,563
Ending other assets 3,611
3,268
3,050
Ending total client assets 346,061
313,103
301,613
Average total client assets2 334,856
321,784
288,568
For the Six Months Ended
June 30,
June 30,
2026
2025
Beginning AUM $
313,775
$
171,930
Beginning other assets1 2,846
4,165
Beginning total client assets 316,621
176,096
AUM net cash flows 3,456
(2,053
)
Other assets net cash flows 390
(1,446
)
Total client assets net cash flows 3,846
(3,499
)
AUM market appreciation (depreciation) 25,713
17,075
Other assets market appreciation (depreciation) 375
331
Total client assets market appreciation (depreciation) 26,089
17,406
AUM realizations and distributions (461
)
(24
)
Acquired & divested assets / Net transfers3 (33
)
111,634
Ending AUM 342,450
298,563
Ending other assets 3,611
3,050
Ending total client assets 346,061
301,613
Average total client assets4 328,320
233,209
Victory Capital Holdings, Inc. and Subsidiaries
Total Assets Under Management1
(unaudited; in millions)
For the Three Months Ended
June 30,
March 31,
June 30,
2026
2026
2025
Beginning assets under management $
309,835
$
313,775
$
167,468
Gross client cash inflows 22,424
19,181
15,731
Gross client cash outflows (18,314
)
(19,835
)
(16,534
)
Net client cash flows 4,110
(654
)
(804
)
Market appreciation (depreciation) 28,510
(2,797
)
20,247
Realizations and distributions (5
)
(456
)
(3
)
Acquired & divested assets / Net transfers2 —
(33
)
111,654
Ending assets under management 342,450
309,835
298,563
Average assets under management 331,345
318,746
284,977
For the Six Months Ended
June 30,
June 30,
2026
2025
Beginning assets under management $
313,775
$
171,930
Gross client cash inflows 41,606
25,217
Gross client cash outflows (38,150
)
(27,270
)
Net client cash flows 3,456
(2,053
)
Market appreciation (depreciation) 25,713
17,075
Realizations and distributions (461
)
(24
)
Acquired assets / Net transfers2 (33
)
111,634
Ending assets under management 342,450
298,563
Average assets under management 325,045
229,383
Victory Capital Holdings, Inc. and Subsidiaries
Other Assets (Institutional)1
(unaudited; in millions)
For the Three Months
June 30,
March 31,
June 30,
2026
2026
2025
Beginning other assets (institutional) $
3,268
$
2,846
$
3,967
Gross client cash inflows —
627
—
Gross client cash outflows —
(237
)
(1,170
)
Net client cash flows —
390
(1,170
)
Market appreciation (depreciation) 343
32
253
Realizations and distributions —
—
—
Acquired & divested assets / Net transfers —
—
—
Ending other assets (institutional) 3,611
3,268
3,050
Average other assets (institutional)2 3,511
3,039
3,591
For the Six Months Ended
June 30,
June 30,
2026
2025
Beginning other assets (institutional) $
2,846
$
4,165
Gross client cash inflows 627
—
Gross client cash outflows (237
)
(1,446
)
Net client cash flows 390
(1,446
)
Market appreciation (depreciation) 375
331
Realizations and distributions —
—
Acquired & divested assets / Net transfers —
—
Ending other assets (institutional) 3,611
3,050
Average other assets (institutional)3 3,275
3,826
Victory Capital Holdings, Inc. and Subsidiaries
Assets Under Management by Asset Class
(unaudited; in millions)
For the Three Months Ended By Asset Class
Global /
U.S. Mid
U.S. Small
Fixed
U.S. Large
Non-U.S.
Alternative
Total
Money Market /
Total
Cap Equity
Cap Equity
Income
Cap Equity
Equity
Solutions
Investments
Long-term
Short-term
AUM1
June 30, 2026 Beginning assets under management $
29,283
$
10,535
$
79,716
$
59,798
$
31,473
$
92,396
$
3,033
$
306,235
$
3,599
$
309,835
Gross client cash inflows 571
286
8,305
1,894
3,879
6,740
439
22,113
311
22,424
Gross client cash outflows (2,274
)
(1,302
)
(5,640
)
(2,917
)
(1,895
)
(3,718
)
(166
)
(17,913
)
(402
)
(18,314
)
Net client cash flows (1,703
)
(1,016
)
2,666
(1,023
)
1,984
3,022
272
4,201
(91
)
4,110
Market appreciation (depreciation) 3,709
1,815
999
7,636
4,006
10,250
65
28,480
30
28,510
Realizations and distributions —
—
—
—
—
—
(5
)
(5
)
—
(5
)
Acquired assets / Net transfers (4
)
(3
)
31
(21
)
(22
)
(28
)
(1
)
(47
)
47
—
Ending assets under management $
31,285
$
11,331
$
83,412
$
66,390
$
37,441
$
105,641
$
3,365
$
338,864
$
3,585
$
342,450
March 31, 2026 Beginning assets under management $
29,993
$
11,179
$
80,544
$
63,380
$
30,680
$
91,228
$
3,038
$
310,042
$
3,733
$
313,775
Gross client cash inflows 776
250
5,070
3,057
2,789
6,718
287
18,946
235
19,181
Gross client cash outflows (2,418
)
(1,329
)
(5,639
)
(3,956
)
(1,830
)
(3,960
)
(270
)
(19,403
)
(432
)
(19,835
)
Net client cash flows (1,643
)
(1,079
)
(569
)
(899
)
959
2,757
17
(457
)
(197
)
(654
)
Market appreciation (depreciation) 942
438
(13
)
(2,632
)
(140
)
(1,594
)
170
(2,829
)
32
(2,797
)
Realizations and distributions —
—
(266
)
—
—
—
(190
)
(456
)
—
(456
)
Acquired assets / Net transfers (9
)
(3
)
21
(50
)
(26
)
5
(1
)
(64
)
31
(33
)
Ending assets under management $
29,283
$
10,535
$
79,716
$
59,798
$
31,473
$
92,396
$
3,033
$
306,235
$
3,599
$
309,835
June 30, 2025 Beginning assets under management $
28,964
$
13,182
$
24,157
$
13,104
$
18,334
$
63,378
$
2,945
$
164,064
$
3,404
$
167,468
Gross client cash inflows 850
457
6,014
2,266
1,520
4,093
222
15,423
308
15,731
Gross client cash outflows (1,597
)
(740
)
(6,012
)
(3,385
)
(1,373
)
(2,742
)
(233
)
(16,083
)
(451
)
(16,534
)
Net client cash flows (748
)
(284
)
2
(1,118
)
147
1,351
(11
)
(660
)
(144
)
(804
)
Market appreciation (depreciation) 1,233
385
1,172
7,482
3,263
6,620
55
20,210
37
20,247
Realizations and distributions —
—
—
—
—
—
(3
)
(3
)
—
(3
)
Acquired assets / Net transfers2 2,194
(143
)
54,420
42,376
3,833
8,639
—
111,318
335
111,654
Ending assets under management $
31,643
$
13,140
$
79,752
$
61,844
$
25,576
$
79,988
$
2,986
$
294,930
$
3,633
$
298,563
Victory Capital Holdings, Inc. and Subsidiaries
Assets Under Management by Asset Class
(unaudited; in millions)
For the Six Months Ended By Asset Class Global / U.S. Mid U.S. Small Fixed U.S. Large Non-U.S. Alternative Total Money Market / Cap Equity Cap Equity Income Cap Equity Equity Solutions Investments Long-term Short-term Total AUM1 June 30, 2026 Beginning assets under management $
29,993
$
11,179
$
80,544
$
63,380
$
30,680
$
91,228
$
3,038
$
310,042
$
3,733
$
313,775
Gross client cash inflows 1,347
536
13,375
4,951
6,668
13,458
726
41,060
546
41,606
Gross client cash outflows (4,693
)
(2,631
)
(11,278
)
(6,873
)
(3,725
)
(7,678
)
(437
)
(37,316
)
(834
)
(38,150
)
Net client cash flows (3,346
)
(2,095
)
2,096
(1,922
)
2,943
5,780
289
3,744
(288
)
3,456
Market appreciation (depreciation) 4,651
2,253
986
5,004
3,866
8,656
236
25,651
62
25,713
Realizations and distributions —
—
(266
)
—
—
—
(195
)
(461
)
—
(461
)
Acquired assets / Net transfers (13
)
(5
)
52
(72
)
(48
)
(23
)
(2
)
(112
)
79
(33
)
Ending assets under management $
31,285
$
11,331
$
83,412
$
66,390
$
37,441
$
105,641
$
3,365
$
338,864
$
3,585
$
342,450
June 30, 2025 Beginning assets under management $
30,584
$
14,785
$
24,402
$
14,148
$
19,095
$
62,593
$
2,980
$
168,586
$
3,344
$
171,930
Gross client cash inflows 1,947
902
6,943
2,349
3,656
8,456
478
24,732
485
25,217
Gross client cash outflows (3,331
)
(1,587
)
(7,557
)
(3,854
)
(4,623
)
(5,060
)
(585
)
(26,597
)
(673
)
(27,270
)
Net client cash flows (1,383
)
(685
)
(614
)
(1,505
)
(967
)
3,396
(107
)
(1,865
)
(188
)
(2,053
)
Market appreciation (depreciation) 254
(809
)
1,500
6,852
3,659
5,417
134
17,008
67
17,075
Realizations and distributions —
—
—
—
—
—
(24
)
(24
)
—
(24
)
Acquired assets / Net transfers2 2,188
(150
)
54,464
42,349
3,789
8,582
2
111,224
410
111,634
Ending assets under management $
31,643
$
13,140
$
79,752
$
61,844
$
25,576
$
79,988
$
2,986
$
294,930
$
3,633
$
298,563
Victory Capital Holdings, Inc. and Subsidiaries
Assets Under Management by Region
(unaudited; in millions)
As of June 30,
2026
2025
(in millions) Amount
% of total
Amount
% of total
U.S. $
279,879
82
%
$
250,035
84
%
Non-U.S. 62,571
18
%
48,528
16
%
Total AUM1 $
342,450
100
%
$
298,563
100
%
Victory Capital Holdings, Inc. and Subsidiaries
Assets Under Management by Vehicle
(unaudited; in millions)
For the Three Months Ended By Vehicle Separate Accounts Mutual and Other Funds1 ETFs2 Vehicles3 Total AUM4 June 30, 2026 Beginning assets under management $
167,775
$
16,401
$
125,659
$
309,835
Gross client cash inflows 7,271
1,535
13,618
22,424
Gross client cash outflows (10,174
)
(341
)
(7,799
)
(18,314
)
Net client cash flows (2,903
)
1,194
5,819
4,110
Market appreciation (depreciation) 15,849
1,576
11,084
28,510
Realizations and distributions —
—
(5
)
(5
)
Acquired assets / Net transfers (25
)
—
25
—
Ending assets under management $
180,696
$
19,171
$
142,583
$
342,450
March 31, 2026 Beginning assets under management $
172,203
$
15,049
$
126,523
$
313,775
Gross client cash inflows 7,793
1,770
9,618
19,181
Gross client cash outflows (11,372
)
(464
)
(7,999
)
(19,835
)
Net client cash flows (3,579
)
1,306
1,619
(654
)
Market appreciation (depreciation) (849
)
79
(2,027
)
(2,797
)
Realizations and distributions —
—
(456
)
(456
)
Acquired assets / Net transfers —
(33
)
—
(33
)
Ending assets under management $
167,775
$
16,401
$
125,659
$
309,835
June 30, 2025 Beginning assets under management $
108,392
$
10,253
$
48,823
$
167,468
Gross client cash inflows 6,935
1,568
7,227
15,731
Gross client cash outflows (9,716
)
(264
)
(6,554
)
(16,534
)
Net client cash flows (2,781
)
1,305
672
(804
)
Market appreciation (depreciation) 11,465
319
8,463
20,247
Realizations and distributions —
—
(3
)
(3
)
Acquired assets / Net transfers5 50,897
97
60,660
111,654
Ending assets under management $
167,973
$
11,975
$
118,615
$
298,563
Victory Capital Holdings, Inc. and Subsidiaries
Assets Under Management by Vehicle
(unaudited; in millions)
For the Six Months Ended By Vehicle Separate Accounts Mutual and Other Funds1 ETFs2 Vehicles3 Total AUM4 June 30, 2026 Beginning assets under management $
172,203
$
15,049
$
126,523
$
313,775
Gross client cash inflows 15,065
3,305
23,236
41,606
Gross client cash outflows (21,547
)
(805
)
(15,797
)
(38,150
)
Net client cash flows (6,482
)
2,500
7,439
3,456
Market appreciation (depreciation) 15,000
1,656
9,058
25,713
Realizations and distributions —
—
(461
)
(461
)
Acquired assets / Net transfers (25
)
(33
)
25
(33
)
Ending assets under management $
180,696
$
19,171
$
142,583
$
342,450
June 30, 2025 Beginning assets under management $
113,645
$
7,508
$
50,777
$
171,930
Gross client cash inflows 10,258
4,630
10,329
25,217
Gross client cash outflows (16,044
)
(515
)
(10,710
)
(27,270
)
Net client cash flows (5,786
)
4,115
(381
)
(2,053
)
Market appreciation (depreciation) 9,222
270
7,583
17,075
Realizations and distributions —
—
(24
)
(24
)
Acquired assets / Net transfers5 50,892
82
60,660
111,634
Ending assets under management $
167,973
$
11,975
$
118,615
$
298,563
Information Regarding Non-GAAP Financial Measures
Victory Capital uses non-GAAP financial measures referred to as Adjusted EBITDA and Adjusted Net Income to measure the operating profitability of the Company. These measures eliminate the impact of one-time acquisition, restructuring and integration costs and demonstrate the ongoing operating earnings metrics of the Company. The Company has included these non-GAAP measures to provide investors with the same financial metrics used by management to assess the operating performance of the Company.
Adjusted EBITDA
Adjustments made to GAAP Net Income to calculate Adjusted EBITDA, as applicable, are:
Adding back income tax expense; Adding back interest paid on debt and other financing costs, net of interest income; Adding back depreciation on property and equipment; Adding back other business taxes; Adding back amortization expense on acquisition-related intangible assets; Adding back share-based compensation expense associated with equity awards in connection with acquisitions and certain one-time performance-based shares; Adding back direct incremental costs of acquisitions, including restructuring costs; Adding back debt issuance cost expense; Adjusted Net Income
Adjustments made to GAAP Net Income to calculate Adjusted Net Income, as applicable, are:
Adding back other business taxes; Adding back amortization expense on acquisition-related intangible assets; Adding back share-based compensation expense associated with equity awards in connection with acquisitions and certain one-time performance-based shares; Adding back direct incremental costs of acquisitions, including restructuring costs; Adding back debt issuance cost expense; Subtracting an estimate of income tax expense applied to the sum of the adjustments above. Tax Benefit of Goodwill and Acquired Intangible Assets
Due to Victory Capital’s acquisitive nature, tax deductions allowed on acquired intangible assets and goodwill provide it with additional significant supplemental economic benefit. The tax benefit of goodwill and intangible assets represent the tax benefits associated with deductions allowed for intangible assets and goodwill generated from prior acquisitions in which the Company received a step-up in basis for tax purposes. Acquired intangible assets and goodwill may be amortized for tax purposes, generally over a 15-year period. The tax benefit from amortization on these assets is included to show the full economic benefit of deductions for all acquired intangible assets with a step-up in tax basis.
Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Victory Capital Holdings (VCTR - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Victory Capital Holdings currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for VCTR that show why this investment management firm shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For VCTR, shares are up 1.88% over the past week while the Zacks Financial - Investment Management industry is up 0.86% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 14.69% compares favorably with the industry's 1.2% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Victory Capital Holdings have increased 17.86% over the past quarter, and have gained 48.21% in the last year. On the other hand, the S&P 500 has only moved 7.68% and 23.46%, respectively.
Investors should also take note of VCTR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now VCTR is averaging 495,618 shares for the last 20 days..
Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with VCTR.
Over the past two months, 5 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost VCTR's consensus estimate, increasing from $7.19 to $7.51 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that VCTR is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Victory Capital Holdings on your short list.
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.
Headquartered in San Antonio, Victory Capital Holdings (VCTR - Free Report) is a Finance stock that has seen a price change of 54.48% so far this year. The investment management firm is currently shelling out a dividend of $0.50 per share, with a dividend yield of 2.05%. This compares to the Financial - Investment Management industry's yield of 2.88% and the S&P 500's yield of 1.32%.
Looking at dividend growth, the company's current annualized dividend of $2.00 is up 3.1% from last year. Over the last 5 years, Victory Capital Holdings has increased its dividend 5 times on a year-over-year basis for an average annual increase of 48.75%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Victory Capital's current payout ratio is 29%, meaning it paid out 29% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for VCTR for this fiscal year. The Zacks Consensus Estimate for 2026 is $7.51 per share, representing a year-over-year earnings growth rate of 17.71%.
Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. However, not all companies offer a quarterly payout.
For instance, it's a rare occurrence when a tech start-up or big growth business offers its shareholders a dividend. It's more common to see larger companies with more established profits give out dividends. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that VCTR is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).
The market expects Victory Capital Holdings (VCTR - Free Report) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on August 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis investment management firm is expected to post quarterly earnings of $1.81 per share in its upcoming report, which represents a year-over-year change of +15.3%.
Revenues are expected to be $386.01 million, up 9.9% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.83% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Victory Capital?For Victory Capital, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.72%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination makes it difficult to conclusively predict that Victory Capital will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Victory Capital would post earnings of $1.65 per share when it actually produced earnings of $1.82, delivering a surprise of +10.30%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Victory Capital doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAnother stock from the Zacks Financial - Investment Management industry, Hamilton Lane (HLNE - Free Report) , is soon expected to post earnings of $1.52 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +16%. Revenues for the quarter are expected to be $218.72 million, up 24.3% from the year-ago quarter.
The consensus EPS estimate for Hamilton Lane has been revised 0.8% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -2.46%.
When combined with a Zacks Rank of #2 (Buy), this Earnings ESP makes it difficult to conclusively predict that Hamilton Lane will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Dimensional Fund Advisors LP boosted its stake in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR – Free Report) by 14.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,743,465 shares of the company’s stock after acquiring an additional 221,471 shares during the quarter. Dimensional Fund Advisors LP owned about 2.72% of Victory Capital worth $114,163,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Victory Capital by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company’s stock valued at $1,416,000 after purchasing an additional 1,060 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Victory Capital by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company’s stock worth $21,199,000 after purchasing an additional 5,685 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Victory Capital by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company’s stock valued at $5,688,000 after buying an additional 9,319 shares during the last quarter. Jane Street Group LLC purchased a new position in Victory Capital in the 1st quarter valued at $3,747,000. Finally, Intech Investment Management LLC increased its stake in Victory Capital by 18.8% in the 1st quarter. Intech Investment Management LLC now owns 20,442 shares of the company’s stock valued at $1,183,000 after buying an additional 3,237 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets A number of equities analysts have commented on VCTR shares. Morgan Stanley upped their price objective on shares of Victory Capital from $76.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Zacks Research raised shares of Victory Capital from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Royal Bank Of Canada boosted their price target on shares of Victory Capital from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Victory Capital in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Victory Capital from $72.00 to $81.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Victory Capital has an average rating of “Moderate Buy” and an average price target of $89.14.
Get Our Latest Report on Victory Capital
Victory Capital Trading Up 0.8% Shares of VCTR stock opened at $100.47 on Wednesday. The business’s fifty day moving average price is $89.22 and its 200 day moving average price is $78.07. The firm has a market capitalization of $6.28 billion, a PE ratio of 22.63, a P/E/G ratio of 1.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.13 and a quick ratio of 1.13. Victory Capital Holdings, Inc. has a 1-year low of $57.03 and a 1-year high of $102.05.
Victory Capital (NASDAQ:VCTR – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The company had revenue of $387.99 million during the quarter, compared to the consensus estimate of $364.97 million. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.Victory Capital’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 earnings per share. As a group, sell-side analysts forecast that Victory Capital Holdings, Inc. will post 7.38 EPS for the current fiscal year.
Victory Capital Increases Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a $0.50 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Victory Capital’s previous quarterly dividend of $0.49. Victory Capital’s payout ratio is 45.05%.
Victory Capital Profile (Free Report)
Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
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SAN ANTONIO--(BUSINESS WIRE)--Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) announced Dominique Carrel-Billiard's resignation from its Board of Directors (the “Board”), effective July 23, 2026, due to his leaving Amundi. Concurrently, the Board has appointed Nicolas Calcoen as a Director, effective the same date.Mr. Calcoen's appointment, recommended by the Board's Nominating & Governance Committee, adds a seasoned global asset management executive to Vic.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Victory Capital Holdings (VCTR - Free Report) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Victory Capital Holdings currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if VCTR is a promising momentum pick, let's examine some Momentum Style elements to see if this investment management firm holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For VCTR, shares are up 5.13% over the past week while the Zacks Financial - Investment Management industry is up 0.27% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 15.6% compares favorably with the industry's 0.94% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of Victory Capital Holdings have increased 34.97% over the past quarter, and have gained 41.72% in the last year. On the other hand, the S&P 500 has only moved 7.33% and 21.58%, respectively.
Investors should also take note of VCTR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now VCTR is averaging 461,168 shares for the last 20 days..
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with VCTR.
Over the past two months, 4 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost VCTR's consensus estimate, increasing from $7.12 to $7.51 in the past 60 days. Looking at the next fiscal year, 4 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that VCTR is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Victory Capital Holdings on your short list.
Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Based in San Antonio, Victory Capital Holdings (VCTR - Free Report) is in the Finance sector, and so far this year, shares have seen a price change of 45.79%. The investment management firm is currently shelling out a dividend of $0.50 per share, with a dividend yield of 2.17%. This compares to the Financial - Investment Management industry's yield of 2.76% and the S&P 500's yield of 1.33%.
Looking at dividend growth, the company's current annualized dividend of $2.00 is up 3.1% from last year. Over the last 5 years, Victory Capital Holdings has increased its dividend 5 times on a year-over-year basis for an average annual increase of 48.75%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Victory Capital's current payout ratio is 29%, meaning it paid out 29% of its trailing 12-month EPS as dividend.
Earnings growth looks solid for VCTR for this fiscal year. The Zacks Consensus Estimate for 2026 is $7.41 per share, which represents a year-over-year growth rate of 16.14%.
From greatly improving stock investing profits and reducing overall portfolio risk to providing tax advantages, investors like dividends for a variety of different reasons. It's important to keep in mind that not all companies provide a quarterly payout.
High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that VCTR is not only an attractive dividend play, but also represents a compelling investment opportunity with a Zacks Rank of #1 (Strong Buy).
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Victory Capital Holdings (VCTR - Free Report) , which belongs to the Zacks Financial - Investment Management industry.
When looking at the last two reports, this investment management firm has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 8.77%, on average, in the last two quarters.
For the last reported quarter, Victory Capital came out with earnings of $1.82 per share versus the Zacks Consensus Estimate of $1.65 per share, representing a surprise of 10.30%. For the previous quarter, the company was expected to post earnings of $1.66 per share and it actually produced earnings of $1.78 per share, delivering a surprise of 7.23%.
Price and EPS Surprise
Thanks in part to this history, there has been a favorable change in earnings estimates for Victory Capital lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Victory Capital has an Earnings ESP of +5.44% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.
Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, but a negative value does reduce the predictive power of this metric.
Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
SummaryVictory Capital Holdings is rated 'Buy', driven by strong earnings, robust AUM growth, and successful integration of acquisitions like Pioneer.VCTR's strategy leverages M&A and ETF product expansion, supporting revenue, EBITDA, and EPS growth above sector and historical averages.1Q26 results exceeded expectations: revenue +77% yoy, adjusted EBITDA +75% yoy, and stable fee rates amid industry-wide compression.Healthy leverage, consistent dividends, and active share repurchases provide downside support while valuation remains below recent peaks.Marcio Silva/iStock Editorial via Getty Images
Summary Victory Capital Holdings' (VCTR) stock is +37% YTD, driven by stronger-than-expected earnings from a growing ETF segment in addition to higher AUM and earnings from recent acquisitions such as Pioneer. VCTR has a clear strategy to
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Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Victory Capital Holdings pushed back against reports that major clients are uneasy with its bid for Janus Henderson, calling the claims misleading and part of an effort to undermine what it calls a superior offer.
SAN ANTONIO, Texas--(BUSINESS WIRE)---- $VCTR--Victory Capital has consistently stated, it was only prepared to move forward with a negotiated, consensual transaction.
Victory Capital Holdings, Inc. (NASDAQ:VCTR – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $75.3750.
VCTR has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a report on Wednesday, January 21st. Royal Bank Of Canada increased their price objective on Victory Capital from $78.00 to $84.00 and gave the stock an “outperform” rating in a report on Tuesday, February 10th. Barclays set a $69.00 target price on shares of Victory Capital in a research report on Friday, February 6th. JPMorgan Chase & Co. increased their target price on shares of Victory Capital from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Victory Capital from a “buy” rating to a “hold” rating in a research report on Monday, April 6th.
View Our Latest Research Report on VCTR
Institutional Investors Weigh In On Victory Capital Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Victory Capital by 19,350.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company’s stock valued at $25,000 after buying an additional 387 shares during the period. Core Wealth Advisors LLC bought a new stake in shares of Victory Capital in the fourth quarter valued at about $30,000. Covestor Ltd lifted its stake in shares of Victory Capital by 99.7% in the fourth quarter. Covestor Ltd now owns 669 shares of the company’s stock valued at $42,000 after buying an additional 334 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Victory Capital by 48.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock valued at $48,000 after buying an additional 246 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Victory Capital by 146.4% in the fourth quarter. GAMMA Investing LLC now owns 860 shares of the company’s stock valued at $54,000 after buying an additional 511 shares during the period. Institutional investors own 87.71% of the company’s stock.
Victory Capital Price Performance Shares of NASDAQ:VCTR opened at $67.79 on Monday. Victory Capital has a one year low of $52.65 and a one year high of $77.78. The stock has a fifty day moving average of $69.76 and a 200-day moving average of $66.49. The company has a market capitalization of $4.34 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.47 and a current ratio of 1.47.
Victory Capital (NASDAQ:VCTR – Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.12. Victory Capital had a return on equity of 21.86% and a net margin of 25.27%.The company had revenue of $374.12 million during the quarter, compared to the consensus estimate of $371.09 million. During the same quarter in the prior year, the firm earned $1.45 EPS. The company’s quarterly revenue was up 61.0% compared to the same quarter last year. As a group, equities analysts anticipate that Victory Capital will post 6.16 EPS for the current fiscal year.
Victory Capital Announces Dividend The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, March 10th. Victory Capital’s dividend payout ratio (DPR) is presently 48.16%.
About Victory Capital (Get Free Report)
Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
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Victory Capital (VCTR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Key Takeaways BlackRock beat Q1 earnings estimates as higher revenues and AUM offset rising expenses.AMG's alternatives push and global reach are expected to drive inflows and earnings growth.FHI gains from deals and product mix, while VCTR's model supports performance despite AUM outflows. One of the largest and most well-known asset management stocks — BlackRock (BLK - Free Report) — kicked off first-quarter earnings on April 14. BLK handily surpassed the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) balance more than offset a rise in total expenses. Since then, many other asset managers came out with quarterly numbers, reflecting solid performance.
How to Recognize Potential Outperformers?We are using our proprietary methodology to find stocks that are poised to outpace the Zacks Consensus Estimate in the quarter. By using the Zacks Stock Screener, we have identified three such asset management stocks —Federated Hermes (FHI - Free Report) , Affiliated Managers Group (AMG - Free Report) and Victory Capital Holdings (VCTR - Free Report) .
These stocks have the ideal combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better — to surpass expectations. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Our proprietary methodology, Earnings ESP, shows the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate. Research shows that for stocks with this combination of rank and ESP, chances of a positive earnings surprise are as high as 70%.
Before we go into the details regarding the above-mentioned asset managers, let us understand the factors that are likely to have influenced their quarterly performances.
Factors Likely to Have Influenced Asset Managers’ Q1 EarningsIn the January-March quarter, the S&P 500 Index fell 4.9%, signaling a volatile market performance. Subdued performance was largely due to geopolitical tensions (mainly the Middle East conflict) and AI-driven disruption. The fixed-income market performance was mixed but more resilient than equities. As such, industry players’ AUM is likely to have witnessed decent growth, while the private credit market weakness is likely to have weighed on AUM expansion.
On the cost front, as industry players are constantly trying to upgrade technology to keep up with evolving customer needs, technology-related costs are expected to keep rising. Using AI and machine learning to enhance operational efficiencies may lead to increased expenses in the short term, but will ultimately support investment managers' operating margins in the long run.
Q1 Earnings ExpectationsThe Zacks Finance sector’s (of which asset management is part) earnings are projected to rise 27.3% year over year in the first quarter of 2026. This compares with the 17.3% increase recorded in the fourth quarter of 2025.
(For a detailed look at the earnings growth projections for this sector and others, please read our Earnings Preview.)
3 Asset Management Stocks That Are Potential Safe BetsFederated Hermes, Headquartered in Pittsburgh, PA, is a global asset manager formed from the merger between Federated Investors and Hermes Investment Management.
The company’s AUM is likely to have benefited from strategic deals and a focus on acquiring money market assets. A diverse asset and product mix, along with inorganic growth initiatives, is likely to have supported its performance in the first quarter of 2026.
Federated Hermes is scheduled to announce results on April 30, after market close. The Zacks Consensus Estimate for its first-quarter earnings of $1.20 per share implies a rise of 9.1% from the year-ago reported figure. The company has an Earnings ESP of +0.35% and a Zacks Rank #3.
Federated Hermes, Inc. Price and EPS Surprise
Affiliated Managers, headquartered in Massachusetts, is a global asset manager with investments in high-quality, independent partner-owned firms or affiliates.
The company is likely to have gained from diverse product offerings, a pivot toward the alternative strategy and global distribution capability. AMG has been pivoting toward private markets and liquid alternatives, fueling strong client inflows into these segments and offsetting weakness in traditional asset categories. In sync with this strategy, in February 2026, it announced investment in HighBrook (a private market manager operating in the real estate sector) and an incremental minority investment in Garda.
Affiliated Managers is scheduled to announce results on May 1, before market open. The Zacks Consensus Estimate for its first-quarter 2026 earnings of $7.38 per share implies a rise of 41.9% from the year-ago reported figure. AMG has an Earnings ESP of +8.76% and a Zacks Rank #3.
Affiliated Managers Group, Inc. Price and EPS Surprise
Victory Capital, headquartered in Cleveland, OH, is an integrated multi-boutique asset management firm.
In March 2026, Victory Capital reported a total AUM of $309.8 billion, down from $324 billion in February 2026. For the first quarter, the company reported long-term AUM net outflows of $457 million. However, the strong positioning of VCTR's integrated multi-boutique business model in a fast-expanding market, combined with the effectiveness of its distribution platform, is expected to support its performance in the upcoming period.
VCTR is scheduled to announce results on May 6, after market close. The Zacks Consensus Estimate for its first-quarter earnings of $1.62 per share implies a rise of 19.1% from the year-ago reported figure. The company has an Earnings ESP of +0.36% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Victory Capital Holdings, Inc. Price and EPS Surprise
Victory Capital (VCTR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Victory Capital Holdings (VCTR) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.65 per share. This compares to earnings of $1.36 per share a year ago.
Victory Capital Holdings (VCTR - Free Report) reported $387.99 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 76.7%. EPS of $1.82 for the same period compares to $1.36 a year ago.
The reported revenue represents a surprise of +5.16% over the Zacks Consensus Estimate of $368.96 million. With the consensus EPS estimate being $1.65, the EPS surprise was +10.64%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Victory Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Ending assets under management - Alternative Investments: $3.03 billion versus the three-analyst average estimate of $3.06 billion.Ending assets under management - U.S. Small Cap Equity: $10.54 billion versus $10.73 billion estimated by three analysts on average.Ending assets under management - U.S. Mid Cap Equity: $29.28 billion versus $29.64 billion estimated by three analysts on average.Ending assets under management - U.S. Large Cap Equity: $59.8 billion compared to the $60.88 billion average estimate based on three analysts.Ending assets under management - Solutions: $92.4 billion compared to the $92.93 billion average estimate based on three analysts.Ending assets under management - Global/Non-U.S. Equity: $31.47 billion compared to the $31.59 billion average estimate based on three analysts.Ending assets under management - Fixed Income: $79.72 billion compared to the $80.49 billion average estimate based on three analysts.Ending Assets Under Management: $309.84 billion compared to the $314.06 billion average estimate based on three analysts.Net client cash flows - Fixed Income: $-569 million compared to the $-314.22 million average estimate based on two analysts.Net client cash flows - U.S. Large Cap Equity: $-899 million versus $-800.85 million estimated by two analysts on average.Revenue- Investment management fees: $316.37 million versus $294.98 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +82.6% change.Revenue- Fund administration and distribution fees: $71.62 million compared to the $73.98 million average estimate based on three analysts. The reported number represents a change of +54.7% year over year.View all Key Company Metrics for Victory Capital here>>>
Shares of Victory Capital have returned +29.3% over the past month versus the Zacks S&P 500 composite's +10.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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