Victory Capital (NASDAQ:VCTR – Free Report) had its price objective boosted by Morgan Stanley from $64.00 to $66.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Victory Capital from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their price target on shares of Victory Capital from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Barclays upped their price objective on Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. The Goldman Sachs Group raised their target price on Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group upped their price target on Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.67.
View Our Latest Stock Report on VCTR
Victory Capital Stock Performance
Victory Capital Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be paid a dividend of $0.44 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, December 9th. This represents a $1.76 annualized dividend and a yield of 2.69%. Victory Capital’s dividend payout ratio is presently 43.78%.
Hedge Funds Weigh In On Victory Capital
A number of hedge funds and other institutional investors have recently bought and sold shares of VCTR. Raymond James & Associates boosted its stake in shares of Victory Capital by 66.4% in the second quarter. Raymond James & Associates now owns 50,240 shares of the company’s stock valued at $2,398,000 after purchasing an additional 20,042 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Victory Capital by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 589,887 shares of the company’s stock worth $28,155,000 after acquiring an additional 58,336 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Victory Capital by 20.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,937 shares of the company’s stock worth $379,000 after acquiring an additional 1,351 shares in the last quarter. F M Investments LLC purchased a new stake in shares of Victory Capital during the second quarter worth $11,149,000. Finally, Principal Financial Group Inc. raised its stake in shares of Victory Capital by 18.4% in the second quarter. Principal Financial Group Inc. now owns 46,904 shares of the company’s stock valued at $2,239,000 after acquiring an additional 7,281 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.
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.
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