Victory Capital (NASDAQ:VCTR) Price Target Raised to $61.00

Victory Capital (NASDAQ:VCTR) had its price objective lifted by Royal Bank of Canada from $55.00 to $61.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also commented on VCTR. Bank of America raised their price target on Victory Capital from $58.00 to $59.00 and gave the stock a buy rating in a research note on Monday, August 12th. Barclays assumed coverage on shares of Victory Capital in a research note on Tuesday, August 27th. They set an equal weight rating and a $58.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Victory Capital from $59.50 to $60.00 and gave the stock a buy rating in a research note on Thursday, October 3rd. UBS Group lowered their price objective on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating for the company in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on Victory Capital from $45.00 to $49.00 and gave the stock a neutral rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $54.44.

Victory Capital Stock Performance

Shares of NASDAQ:VCTR opened at $58.23 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average price of $53.07 and a 200-day moving average price of $50.63. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 0.61 and a beta of 0.91. Victory Capital has a 12 month low of $28.66 and a 12 month high of $58.58.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The business had revenue of $219.62 million during the quarter, compared to analyst estimates of $220.82 million. As a group, equities analysts anticipate that Victory Capital will post 5.19 EPS for the current year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $0.41 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.64 annualized dividend and a dividend yield of 2.82%. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio is presently 50.31%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VCTR. CWM LLC increased its holdings in shares of Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after acquiring an additional 564 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Victory Capital by 53.2% during the 3rd quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock valued at $32,000 after purchasing an additional 199 shares in the last quarter. USA Financial Formulas raised its holdings in Victory Capital by 157.9% in the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock worth $61,000 after buying an additional 676 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Victory Capital by 50.7% in the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after buying an additional 479 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of Victory Capital by 200.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.