Victory Capital (NASDAQ:VCTR) Price Target Raised to $69.00

Victory Capital (NASDAQ:VCTR) had its target price hoisted by BMO Capital Markets from $61.00 to $69.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

VCTR has been the topic of several other research reports. Morgan Stanley increased their price target on shares of Victory Capital from $39.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price target on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Royal Bank of Canada increased their price target on shares of Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Barclays started coverage on shares of Victory Capital in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price target on the stock. Finally, Bank of America increased their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Four equities research 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 a consensus rating of “Moderate Buy” and an average target price of $58.00.

Victory Capital Stock Performance

VCTR opened at $61.22 on Wednesday. Victory Capital has a 52-week low of $28.66 and a 52-week high of $61.68. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87. The company has a market cap of $3.96 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.62 and a beta of 0.91. The firm’s 50-day moving average price is $54.19 and its 200-day moving average price is $50.99.

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

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.41 per share. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, September 10th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. Victory Capital’s dividend payout ratio (DPR) is presently 50.31%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in VCTR. Capital World Investors lifted its position in shares of Victory Capital by 85.8% during the 1st quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock valued at $94,278,000 after buying an additional 1,025,954 shares in the last quarter. Swedbank AB purchased a new position in shares of Victory Capital during the 1st quarter valued at approximately $29,701,000. Vanguard Group Inc. lifted its position in shares of Victory Capital by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock valued at $158,661,000 after buying an additional 527,190 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock valued at $20,310,000 after buying an additional 477,798 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of Victory Capital by 35.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock valued at $47,138,000 after buying an additional 288,280 shares in 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.