Victory Capital (NASDAQ:VCTR) Price Target Raised to $66.00

Victory Capital (NASDAQ:VCTR) had its price objective hoisted by Morgan Stanley from $64.00 to $66.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on the stock. BMO Capital Markets increased their target price on shares of Victory Capital from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada upped their price objective on shares of Victory Capital from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. UBS Group lifted their target price on Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Barclays upped their target price on Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group boosted their price objective on Victory Capital from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.67.

Victory Capital Stock Performance

Shares of VCTR opened at $65.46 on Friday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 0.59 and a beta of 0.89. Victory Capital has a 52-week low of $32.55 and a 52-week high of $73.42. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $64.33 and a 200 day moving average price of $56.07.

Victory Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s payout ratio is currently 43.78%.

Hedge Funds Weigh In On Victory Capital

A number of large investors have recently modified their holdings of the business. Contravisory Investment Management Inc. grew its holdings in 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. Farther Finance Advisors LLC boosted its position in shares of Victory Capital by 367.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock worth $32,000 after purchasing an additional 452 shares in the last quarter. USA Financial Formulas grew its stake in shares of Victory Capital by 157.9% during the 3rd quarter. USA Financial Formulas now owns 1,104 shares of the company’s stock worth $61,000 after purchasing an additional 676 shares during the period. Quantbot Technologies LP purchased a new position in shares of Victory Capital in the 3rd quarter valued at about $72,000. Finally, FMR LLC lifted its stake in shares of Victory Capital by 18.1% in the third quarter. FMR LLC now owns 1,341 shares of the company’s stock valued at $74,000 after purchasing an additional 206 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.