BMO Capital Markets Increases Victory Capital (NASDAQ:VCTR) Price Target to $78.00

Victory Capital (NASDAQ:VCTR) had its price objective lifted by BMO Capital Markets from $71.00 to $78.00 in a research note released on Thursday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on VCTR. Morgan Stanley lifted their price objective on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group raised their target price on Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their price target on shares of Victory Capital from $59.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada raised their price objective 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. Finally, The Goldman Sachs Group upped their target price on shares of Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.67.

Victory Capital Stock Performance

NASDAQ:VCTR opened at $65.46 on Thursday. Victory Capital has a fifty-two week low of $32.55 and a fifty-two week high of $73.42. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19. The company has a 50 day moving average price of $64.33 and a 200 day moving average price of $56.00. The stock has a market capitalization of $4.26 billion, a P/E ratio of 16.28, a PEG ratio of 0.59 and a beta of 0.89.

Victory Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, December 9th. This is a boost from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s payout ratio is 43.78%.

Institutional Investors Weigh In On Victory Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the company. World Investment Advisors LLC acquired a new position in shares of Victory Capital during the third quarter worth $918,000. McIlrath & Eck LLC purchased a new stake in Victory Capital during the 3rd quarter worth about $565,000. Bank of Montreal Can boosted its position in shares of Victory Capital by 282.0% during the 3rd quarter. Bank of Montreal Can now owns 43,453 shares of the company’s stock worth $2,412,000 after acquiring an additional 32,079 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Victory Capital in the 3rd quarter valued at about $7,755,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Victory Capital in the 3rd quarter valued at about $2,288,000. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.