Victory Capital (NASDAQ:VCTR) Price Target Raised to $84.00

Victory Capital (NASDAQ:VCTR) had its target price boosted by Bank of America from $83.00 to $84.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also weighed in on VCTR. B. Riley boosted their target price on Victory Capital from $74.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, August 22nd. Morgan Stanley boosted their target price on Victory Capital from $66.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. The Goldman Sachs Group reissued a “buy” rating and set a $76.00 target price on shares of Victory Capital in a report on Tuesday, September 23rd. Finally, Barclays upped their price objective on Victory Capital from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Victory Capital has a consensus rating of “Moderate Buy” and a consensus target price of $73.78.

Victory Capital Stock Up 2.1%

VCTR stock opened at $65.38 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $4.37 billion, a PE ratio of 16.14, a PEG ratio of 0.69 and a beta of 1.07. Victory Capital has a 1-year low of $47.00 and a 1-year high of $73.42. The business’s 50 day simple moving average is $69.14 and its 200 day simple moving average is $64.05.

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

Victory Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 10th. Victory Capital’s dividend payout ratio is presently 48.40%.

Hedge Funds Weigh In On Victory Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Victory Capital by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,095,276 shares of the company’s stock worth $236,994,000 after purchasing an additional 129,055 shares in the last quarter. Amundi acquired a new position in Victory Capital in the 2nd quarter worth about $213,219,000. Bahl & Gaynor Inc. increased its holdings in Victory Capital by 17.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,825,998 shares of the company’s stock worth $105,671,000 after purchasing an additional 268,573 shares in the last quarter. Geode Capital Management LLC increased its holdings in Victory Capital by 26.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,359,120 shares of the company’s stock worth $86,545,000 after purchasing an additional 285,137 shares in the last quarter. Finally, State Street Corp increased its holdings in Victory Capital by 3.3% in the 2nd quarter. State Street Corp now owns 1,239,361 shares of the company’s stock worth $78,910,000 after purchasing an additional 39,986 shares in the last quarter. 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.