Victory Capital (NASDAQ:VCTR) PT Raised to $60.00

Victory Capital (NASDAQ:VCTR) had its target price lifted by The Goldman Sachs Group from $59.50 to $60.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Victory Capital from $56.00 to $55.00 and set an outperform rating for the company in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the stock a neutral rating in a research note on Monday, August 19th. Bank of America upped their price objective on shares of Victory Capital from $58.00 to $59.00 and gave the company a buy rating in a research report on Monday, August 12th. Morgan Stanley boosted their price target on Victory Capital from $39.00 to $40.00 and gave the company an underweight rating in a research note on Tuesday, August 13th. Finally, UBS Group decreased their price target on Victory Capital from $50.00 to $49.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Victory Capital presently has an average rating of Hold and an average target price of $53.78.

Victory Capital Stock Performance

Victory Capital stock opened at $57.58 on Thursday. The stock has a fifty day moving average price of $52.43 and a 200 day moving average price of $50.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.87. Victory Capital has a 52 week low of $28.66 and a 52 week high of $58.02. The firm has a market capitalization of $3.73 billion, a P/E ratio of 17.66, a PEG ratio of 0.61 and a beta of 0.91.

Victory Capital (NASDAQ:VCTR) last announced its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share 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 business had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. Equities research analysts anticipate that Victory Capital will post 5.19 earnings per share for the current year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, September 10th. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a yield of 2.85%. Victory Capital’s dividend payout ratio (DPR) is 50.31%.

Institutional Investors Weigh In On Victory Capital

Institutional investors have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in Victory Capital by 50.7% in the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after acquiring an additional 479 shares in the last quarter. CWM LLC increased its stake in shares of Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after purchasing an additional 564 shares during the last quarter. Fiera Capital Corp grew its position in Victory Capital by 0.9% in the second quarter. Fiera Capital Corp now owns 73,974 shares of the company’s stock valued at $3,531,000 after acquiring an additional 644 shares during the last quarter. QRG Capital Management Inc. raised its stake in Victory Capital by 7.7% during the second quarter. QRG Capital Management Inc. now owns 9,911 shares of the company’s stock worth $473,000 after acquiring an additional 709 shares in the last quarter. Finally, Kendall Capital Management lifted its holdings in shares of Victory Capital by 0.8% in the second quarter. Kendall Capital Management now owns 94,949 shares of the company’s stock worth $4,532,000 after acquiring an additional 737 shares during the last quarter. 87.71% of the stock is currently owned by institutional investors.

About Victory Capital

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.