Victory Capital (NASDAQ:VCTR) PT Lowered to $58.00

Victory Capital (NASDAQ:VCTR) had its price target cut by Bank of America from $59.00 to $58.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on VCTR. BMO Capital Markets reaffirmed an outperform rating and set a $57.00 price objective (up previously from $55.00) on shares of Victory Capital in a research report on Monday, May 13th. B. Riley boosted their price objective on shares of Victory Capital from $48.00 to $57.00 and gave the company a buy rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their price objective on shares of Victory Capital from $47.00 to $56.00 and gave the company an outperform rating in a research report on Tuesday, May 14th. UBS Group lowered their price objective on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, Morgan Stanley upped their target price on shares of Victory Capital from $32.00 to $39.00 and gave the stock an underweight rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $51.57.

Victory Capital Price Performance

VCTR opened at $52.16 on Friday. The company has a 50-day moving average of $50.15 and a 200-day moving average of $43.33. The company has a market capitalization of $3.38 billion, a P/E ratio of 16.00, a PEG ratio of 0.58 and a beta of 0.93. Victory Capital has a 1-year low of $28.66 and a 1-year high of $54.94. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.71 and a current ratio of 0.71.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings data on Thursday, May 9th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. Victory Capital had a net margin of 26.28% and a return on equity of 29.23%. The business had revenue of $215.86 million during the quarter, compared to the consensus estimate of $219.14 million. Equities analysts expect that Victory Capital will post 5.21 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, June 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.34. Victory Capital’s dividend payout ratio (DPR) is currently 45.40%.

Hedge Funds Weigh In On Victory Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of Victory Capital by 1.3% during the 4th quarter. Federated Hermes Inc. now owns 28,896 shares of the company’s stock valued at $995,000 after purchasing an additional 383 shares during the period. CWM LLC increased its position in shares of Victory Capital by 486.2% during the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after purchasing an additional 564 shares during the period. Blue Trust Inc. increased its position in shares of Victory Capital by 93.5% during the 4th quarter. Blue Trust Inc. now owns 1,246 shares of the company’s stock valued at $41,000 after purchasing an additional 602 shares during the period. QRG Capital Management Inc. increased its position in shares of Victory Capital by 7.7% during the 2nd quarter. QRG Capital Management Inc. now owns 9,911 shares of the company’s stock valued at $473,000 after purchasing an additional 709 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Victory Capital by 9.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,655 shares of the company’s stock worth $367,000 after acquiring an additional 922 shares during the last quarter. 87.71% of the stock is owned by 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.