Victory Capital (NASDAQ:VCTR) Given New $72.00 Price Target at Royal Bank of Canada

Victory Capital (NASDAQ:VCTR) had its price target boosted by Royal Bank of Canada from $61.00 to $72.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Morgan Stanley upped their target price on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their target price on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. UBS Group increased their price objective on Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays increased their price objective on Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on Victory Capital from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.67.

Victory Capital Trading Down 0.5 %

Shares of VCTR stock opened at $63.20 on Thursday. Victory Capital has a 1 year low of $31.18 and a 1 year high of $70.56. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $58.25 and its two-hundred day simple moving average is $53.42. The company has a market cap of $4.10 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 9th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s dividend payout ratio (DPR) is presently 40.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in Victory Capital by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,036,725 shares of the company’s stock worth $57,446,000 after acquiring an additional 101,247 shares during the period. Barclays PLC raised its stake in shares of Victory Capital by 110.6% in the 3rd quarter. Barclays PLC now owns 99,367 shares of the company’s stock valued at $5,506,000 after purchasing an additional 52,191 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Victory Capital in the 3rd quarter valued at about $211,000. State Street Corp grew its position in shares of Victory Capital by 6.4% during the 3rd quarter. State Street Corp now owns 1,162,842 shares of the company’s stock valued at $64,421,000 after buying an additional 69,654 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Victory Capital by 4.2% in the 3rd 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. 87.71% of the stock is 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.