Victory Capital (NASDAQ:VCTR) Price Target Raised to $67.00

Victory Capital (NASDAQ:VCTR) had its target price boosted by Morgan Stanley from $66.00 to $67.00 in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on VCTR. B. Riley boosted their price target on Victory Capital from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered their price target on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Wall Street Zen downgraded Victory Capital from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Royal Bank Of Canada boosted their price target on Victory Capital from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday, May 13th. Finally, Barclays boosted their price target on Victory Capital from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.33.

Victory Capital Stock Performance

NASDAQ VCTR opened at $70.07 on Monday. The business’s 50-day moving average price is $66.82 and its 200 day moving average price is $62.89. Victory Capital has a twelve month low of $47.00 and a twelve month high of $73.42. The company has a market capitalization of $4.68 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39.

Victory Capital (NASDAQ:VCTR) last released its earnings results on Thursday, August 7th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. Victory Capital had a return on equity of 26.46% and a net margin of 27.18%.The firm had revenue of $351.21 million for the quarter, compared to the consensus estimate of $348.89 million. During the same period in the prior year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 59.9% compared to the same quarter last year. On average, research analysts predict that Victory Capital will post 6.16 earnings per share for the current year.

Victory Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, September 10th. Victory Capital’s payout ratio is presently 48.40%.

Institutional Trading of Victory Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hohimer Wealth Management LLC purchased a new stake in shares of Victory Capital during the second quarter worth about $241,000. Public Sector Pension Investment Board increased its position in shares of Victory Capital by 0.5% during the second quarter. Public Sector Pension Investment Board now owns 145,066 shares of the company’s stock worth $9,236,000 after acquiring an additional 793 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Victory Capital by 651.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,674 shares of the company’s stock worth $361,000 after purchasing an additional 4,919 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of Victory Capital during the second quarter worth about $470,000. Finally, Vident Advisory LLC lifted its position in shares of Victory Capital by 3.3% during the second quarter. Vident Advisory LLC now owns 10,174 shares of the company’s stock worth $648,000 after purchasing an additional 322 shares during the last quarter. 87.71% of the stock is 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.