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

Victory Capital (NASDAQ:VCTR) had its price target lifted by Morgan Stanley from $60.00 to $64.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also weighed in on the company. Bank of America raised their target price on 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. raised their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. The Goldman Sachs Group upped their target price on shares of Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price target on shares of Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, BMO Capital Markets upped their price objective on shares of Victory Capital from $61.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.67.

Victory Capital Stock Performance

Shares of VCTR stock opened at $63.51 on Monday. The company has a market cap of $4.12 billion, a P/E ratio of 15.80, a PEG ratio of 0.57 and a beta of 0.90. The firm has a fifty day moving average price of $58.01 and a 200 day moving average price of $53.30. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84. Victory Capital has a 12 month low of $31.18 and a 12 month high of $70.56.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be paid a dividend of $0.44 per share. The ex-dividend date is Monday, December 9th. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.77%. Victory Capital’s dividend payout ratio is currently 43.78%.

Hedge Funds Weigh In On Victory Capital

Institutional investors have recently bought and sold shares of the company. Contravisory Investment Management Inc. boosted its holdings in shares of Victory Capital by 53.2% in the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. FMR LLC boosted its holdings in Victory Capital by 18.1% in the 3rd quarter. FMR LLC now owns 1,341 shares of the company’s stock valued at $74,000 after purchasing an additional 206 shares in the last quarter. Farther Finance Advisors LLC increased its position in 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 during the period. Amalgamated Bank raised its stake in shares of Victory Capital by 50.7% during the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after buying an additional 479 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after buying an additional 564 shares during the period. 87.71% of the stock is owned by institutional investors and hedge funds.

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.