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

Victory Capital (NASDAQ:VCTR) had its target price lifted by Royal Bank of Canada from $61.00 to $72.00 in a research note published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research analysts also recently issued reports on the stock. UBS Group upped their price target on shares of Victory Capital from $49.00 to $64.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Bank of America raised their price target on shares of Victory Capital from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Barclays raised their target price on shares of Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. BMO Capital Markets raised their price target on Victory Capital from $69.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their price target on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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 current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84. The firm’s fifty day simple moving average is $58.25 and its 200 day simple moving average is $53.42. The firm has a market capitalization of $4.10 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 0.55 and a beta of 0.90.

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 paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, December 9th. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. Victory Capital’s dividend payout ratio is 40.80%.

Institutional Trading of Victory Capital

A number of institutional investors have recently added to or reduced their stakes in VCTR. Janney Montgomery Scott LLC purchased a new stake in shares of Victory Capital in the 1st quarter valued at about $231,000. Sei Investments Co. lifted its stake in shares of Victory Capital by 106.7% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the company’s stock valued at $4,805,000 after purchasing an additional 58,458 shares during the period. QRG Capital Management Inc. raised its stake in Victory Capital by 10.0% during the first quarter. QRG Capital Management Inc. now owns 9,202 shares of the company’s stock valued at $390,000 after buying an additional 839 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Victory Capital during the first quarter valued at $1,431,000. Finally, US Bancorp DE raised its stake in shares of Victory Capital by 7.8% in the first quarter. US Bancorp DE now owns 14,694 shares of the company’s stock worth $623,000 after purchasing an additional 1,064 shares during 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.