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

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

Several other analysts have also recently issued reports on the stock. UBS Group upped their target price on shares of Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their target price on shares of Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Bank of America upped their target price 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 upped 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 report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Victory Capital Stock Down 0.5 %

Shares of NASDAQ VCTR opened at $63.20 on Thursday. The firm’s 50-day moving average price is $58.25 and its 200-day moving average price is $53.40. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.56 and a beta of 0.90. Victory Capital has a 12-month low of $31.18 and a 12-month high of $70.56.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, December 9th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.78%. Victory Capital’s dividend payout ratio (DPR) is 40.80%.

Hedge Funds Weigh In On Victory Capital

A number of institutional investors have recently modified their holdings of the stock. Contravisory Investment Management Inc. increased its position in shares of Victory Capital by 53.2% during the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after acquiring an additional 199 shares during the period. FMR LLC increased its position in shares of Victory Capital by 18.1% during the third quarter. FMR LLC now owns 1,341 shares of the company’s stock worth $74,000 after acquiring an additional 206 shares during the period. HighTower Advisors LLC increased its position 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 acquiring an additional 377 shares during the period. Farther Finance Advisors LLC increased its position in shares of Victory Capital by 367.5% during the third quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock worth $32,000 after acquiring an additional 452 shares during the period. Finally, Amalgamated Bank increased its position in shares of Victory Capital by 50.7% during the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after acquiring an additional 479 shares during the period. 87.71% of the stock is owned by hedge funds and other 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.