Victory Capital (NASDAQ:VCTR) Price Target Raised to $64.00 at UBS Group

Victory Capital (NASDAQ:VCTR) had its price objective boosted by UBS Group from $49.00 to $64.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on VCTR. Royal Bank of Canada upped their target price on Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Morgan Stanley upgraded shares of Victory Capital from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $40.00 to $60.00 in a research report on Friday, October 18th. Bank of America upped their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Barclays initiated coverage on shares of Victory Capital in a report on Tuesday, August 27th. They set an “equal weight” rating and a $58.00 target price for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.67.

Victory Capital Stock Performance

VCTR opened at $60.38 on Tuesday. The stock has a market cap of $3.91 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.65 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a fifty day moving average price of $54.91 and a 200 day moving average price of $51.50. Victory Capital has a 1 year low of $28.66 and a 1 year high of $61.68.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. The business had revenue of $219.62 million for the quarter, compared to analyst estimates 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were given a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.64 dividend on an annualized basis and a yield of 2.72%. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s payout ratio is currently 50.31%.

Hedge Funds Weigh In On Victory Capital

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock worth $20,310,000 after buying an additional 477,798 shares during the period. Vanguard Group Inc. boosted its holdings in Victory Capital by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 3,212,173 shares of the company’s stock valued at $110,627,000 after purchasing an additional 104,746 shares during the period. Diversified Trust Co grew its stake in Victory Capital by 13.6% during the 1st quarter. Diversified Trust Co now owns 14,160 shares of the company’s stock worth $601,000 after purchasing an additional 1,695 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Victory Capital by 88.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,105 shares of the company’s stock worth $853,000 after purchasing an additional 9,450 shares during the period. Finally, Legacy Wealth Asset Management LLC raised its position in Victory Capital by 48.1% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 24,306 shares of the company’s stock valued at $1,031,000 after purchasing an additional 7,891 shares in the last quarter. Hedge funds and other institutional investors 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.