Victory Capital (NASDAQ:VCTR) Price Target Raised to $55.00

Victory Capital (NASDAQ:VCTR) had its price objective raised by BMO Capital Markets from $53.00 to $55.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on VCTR. Morgan Stanley increased their price target on Victory Capital from $28.00 to $30.00 and gave the company an underweight rating in a research note on Monday, February 12th. Royal Bank of Canada increased their price target on Victory Capital from $40.00 to $43.00 and gave the company an outperform rating in a research note on Tuesday, February 13th. B. Riley restated a buy rating and set a $48.00 target price (up previously from $40.00) on shares of Victory Capital in a research report on Friday, February 16th. Finally, UBS Group upped their target price on Victory Capital from $33.00 to $36.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $43.71.

Victory Capital Price Performance

Shares of VCTR opened at $47.47 on Wednesday. The stock has a market cap of $3.05 billion, a PE ratio of 15.17, a PEG ratio of 0.56 and a beta of 1.00. The business has a 50-day simple moving average of $40.50 and a two-hundred day simple moving average of $35.42. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.94. Victory Capital has a 12-month low of $27.73 and a 12-month high of $47.85.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.02. The company had revenue of $205.80 million during the quarter, compared to analysts’ expectations of $204.20 million. Victory Capital had a return on equity of 28.70% and a net margin of 25.96%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Analysts anticipate that Victory Capital will post 5.02 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were given a dividend of $0.335 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.34 annualized dividend and a dividend yield of 2.82%. Victory Capital’s dividend payout ratio is presently 42.81%.

Institutional Investors Weigh In On Victory Capital

Several institutional investors and hedge funds have recently made changes to their positions in VCTR. West Tower Group LLC bought a new position in Victory Capital in the fourth quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its holdings in Victory Capital by 135.3% in the second quarter. Tower Research Capital LLC TRC now owns 873 shares of the company’s stock worth $28,000 after acquiring an additional 502 shares in the last quarter. Citigroup Inc. boosted its holdings in Victory Capital by 87.7% in the fourth quarter. Citigroup Inc. now owns 1,265 shares of the company’s stock worth $34,000 after acquiring an additional 591 shares in the last quarter. Blue Trust Inc. boosted its holdings in Victory Capital by 93.5% in the fourth quarter. Blue Trust Inc. now owns 1,246 shares of the company’s stock worth $41,000 after acquiring an additional 602 shares in the last quarter. Finally, Bamco Inc. NY bought a new position in Victory Capital in the fourth quarter worth approximately $49,000. 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.