Victory Capital (NASDAQ:VCTR) Price Target Raised to $72.00

Victory Capital (NASDAQ:VCTR) had its target price upped by Royal Bank of Canada from $61.00 to $72.00 in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Barclays raised their target price on shares of Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Bank of America raised their target price on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group raised their target price on shares of Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Morgan Stanley raised their target price on shares of Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Victory Capital Price Performance

NASDAQ VCTR opened at $63.20 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 1.19. The firm’s 50 day moving average price is $58.25 and its 200-day moving average price is $53.40. Victory Capital has a 52-week low of $31.18 and a 52-week high of $70.56. The company has a market cap of $4.10 billion, a PE ratio of 15.72, a P/E/G ratio of 0.56 and a beta of 0.90.

Victory Capital Increases Dividend

The business 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 $0.44 dividend. The ex-dividend date is Monday, December 9th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s dividend payout ratio (DPR) is currently 40.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Victory Capital by 10.8% in the third quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company’s stock worth $57,446,000 after buying an additional 101,247 shares during the last quarter. Barclays PLC raised its holdings in shares of Victory Capital by 110.6% during the third quarter. Barclays PLC now owns 99,367 shares of the company’s stock worth $5,506,000 after purchasing an additional 52,191 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Victory Capital during the third quarter worth $211,000. State Street Corp raised its holdings in shares of Victory Capital by 6.4% during the third quarter. State Street Corp now owns 1,162,842 shares of the company’s stock worth $64,421,000 after purchasing an additional 69,654 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Victory Capital by 4.2% during the third quarter. HighTower Advisors LLC now owns 9,351 shares of the company’s stock worth $520,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors 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.