Victory Capital (NASDAQ:VCTR) Price Target Raised to $78.00

Victory Capital (NASDAQ:VCTR) had its price target raised by BMO Capital Markets from $71.00 to $78.00 in a research note released on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on VCTR. Royal Bank of Canada lifted their price objective on Victory Capital from $61.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. Barclays lifted their price target on Victory Capital from $59.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. UBS Group increased their price objective on Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on shares of Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley increased their target price on shares of Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.67.

Victory Capital Stock Performance

VCTR opened at $65.46 on Thursday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.59 and a beta of 0.89. The firm’s fifty day simple moving average is $64.33 and its two-hundred day simple moving average is $56.00. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. Victory Capital has a 52-week low of $32.55 and a 52-week high of $73.42.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s payout ratio is currently 43.78%.

Institutional Investors Weigh In On Victory Capital

A number of hedge funds have recently modified their holdings of VCTR. Franklin Resources Inc. raised its stake in Victory Capital by 113.2% during the third quarter. Franklin Resources Inc. now owns 1,980,019 shares of the company’s stock worth $115,990,000 after purchasing an additional 1,051,459 shares during the period. LSV Asset Management raised its position in shares of Victory Capital by 2.7% during the 2nd quarter. LSV Asset Management now owns 1,294,722 shares of the company’s stock valued at $61,797,000 after buying an additional 34,000 shares during the period. Bahl & Gaynor Inc. raised its position in shares of Victory Capital by 8.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,205,601 shares of the company’s stock valued at $57,543,000 after buying an additional 94,653 shares during the period. State Street Corp lifted its holdings in Victory Capital by 6.4% in the third quarter. State Street Corp now owns 1,162,842 shares of the company’s stock valued at $64,421,000 after acquiring an additional 69,654 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Victory Capital by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company’s stock worth $57,446,000 after acquiring an additional 101,247 shares during the period. 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.