Royal Bank of Canada Issues Positive Forecast for Victory Capital (NASDAQ:VCTR) Stock Price

Victory Capital (NASDAQ:VCTR) had its price objective hoisted by Royal Bank of Canada from $61.00 to $72.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on VCTR. BMO Capital Markets raised their price objective on shares of Victory Capital from $69.00 to $71.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group lifted their target price on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley upped their price target on shares of Victory Capital from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday. The Goldman Sachs Group upped their price target on shares of Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.67.

Victory Capital Stock Performance

Victory Capital stock traded down $0.76 on Thursday, reaching $62.75. 159,852 shares of the stock were exchanged, compared to its average volume of 379,371. The stock has a market cap of $4.07 billion, a PE ratio of 15.80, a PEG ratio of 0.56 and a beta of 0.90. Victory Capital has a twelve month low of $31.18 and a twelve month high of $70.56. The firm has a fifty day moving average price of $58.01 and a two-hundred day moving average price of $53.30. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.80%. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, December 9th. Victory Capital’s dividend payout ratio (DPR) is 40.80%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors raised its position in shares of Victory Capital by 85.8% during the first 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 during the last quarter. Swedbank AB boosted its holdings in Victory Capital by 7.1% in the 2nd quarter. Swedbank AB now owns 750,000 shares of the company’s stock valued at $35,798,000 after purchasing an additional 50,000 shares during the period. Sei Investments Co. raised its position in shares of Victory Capital by 106.7% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the company’s stock valued at $4,805,000 after buying an additional 58,458 shares in the last quarter. Acadian Asset Management LLC increased its position in Victory Capital by 73.0% during the 1st quarter. Acadian Asset Management LLC now owns 416,120 shares of the company’s stock worth $17,649,000 after purchasing an additional 175,576 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Victory Capital in the 1st quarter valued at $1,431,000. Institutional investors and hedge funds own 87.71% of the company’s stock.

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.