Victory Capital (NASDAQ:VCTR) Price Target Raised to $61.00 at Royal Bank of Canada

Victory Capital (NASDAQ:VCTR) had its price target hoisted by Royal Bank of Canada from $55.00 to $61.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on VCTR. The Goldman Sachs Group boosted their price objective on Victory Capital from $59.50 to $60.00 and gave the company a buy rating in a research note on Thursday, October 3rd. Morgan Stanley upped their price target on shares of Victory Capital from $39.00 to $40.00 and gave the stock an underweight rating in a research report on Tuesday, August 13th. UBS Group decreased their price objective on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Bank of America upped their target price on shares of Victory Capital from $58.00 to $59.00 and gave the stock a buy rating in a report on Monday, August 12th. Finally, Barclays started coverage on Victory Capital in a report on Tuesday, August 27th. They set an equal weight rating and a $58.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average target price of $54.44.

Victory Capital Price Performance

NASDAQ VCTR opened at $58.23 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $3.77 billion, a P/E ratio of 17.86, a PEG ratio of 0.61 and a beta of 0.91. The company has a 50-day moving average price of $53.07 and a 200-day moving average price of $50.63. Victory Capital has a 52 week low of $28.66 and a 52 week high of $58.58.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. The firm had revenue of $219.62 million during the quarter, compared to the consensus estimate of $220.82 million. Equities research analysts anticipate that Victory Capital will post 5.19 earnings per share for the current year.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.41 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.82%. Victory Capital’s dividend payout ratio (DPR) is presently 50.31%.

Institutional Investors Weigh In On Victory Capital

A number of hedge funds have recently made changes to their positions in the company. CWM LLC grew its holdings in 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 buying an additional 564 shares in the last quarter. Contravisory Investment Management Inc. boosted its position in shares of Victory Capital by 53.2% during the 3rd quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock valued at $32,000 after acquiring an additional 199 shares during the last quarter. USA Financial Formulas grew its holdings in shares of Victory Capital by 157.9% in the third quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock valued at $61,000 after purchasing an additional 676 shares in the last quarter. Amalgamated Bank increased its position in Victory Capital by 50.7% in the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after purchasing an additional 479 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in Victory Capital by 200.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after purchasing an additional 1,800 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.