Morgan Stanley Raises Victory Capital (NASDAQ:VCTR) Price Target to $32.00

Victory Capital (NASDAQ:VCTR) had its price objective increased by Morgan Stanley from $30.00 to $32.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Victory Capital from $53.00 to $55.00 and gave the stock an outperform rating in a report on Wednesday. Royal Bank of Canada increased their price target on shares of Victory Capital from $40.00 to $43.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. B. Riley reissued a buy rating and set a $48.00 price target (up from $40.00) on shares of Victory Capital in a report on Friday, February 16th. Finally, UBS Group increased their price target on shares of Victory Capital from $33.00 to $36.00 and gave the stock a neutral rating in a 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 issued a buy rating to the company. According to MarketBeat, Victory Capital has a consensus rating of Hold and a consensus target price of $43.71.

Victory Capital Price Performance

Shares of VCTR opened at $47.47 on Wednesday. Victory Capital has a fifty-two week low of $27.73 and a fifty-two week high of $47.85. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The firm has a 50-day simple moving average of $40.50 and a 200-day simple moving average of $35.42. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.66 and a current ratio of 0.66.

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

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.335 dividend. The ex-dividend date was Friday, March 8th. This is a boost from Victory Capital’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a yield of 2.82%. Victory Capital’s dividend payout ratio (DPR) is 42.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its holdings in Victory Capital by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 28,896 shares of the company’s stock valued at $995,000 after buying an additional 383 shares in the last quarter. Olympiad Research LP increased its holdings in Victory Capital by 6.0% in the third quarter. Olympiad Research LP now owns 6,910 shares of the company’s stock valued at $230,000 after buying an additional 394 shares in the last quarter. State of Wyoming increased its holdings in Victory Capital by 7.6% in the fourth quarter. State of Wyoming now owns 5,729 shares of the company’s stock valued at $154,000 after buying an additional 405 shares in the last quarter. SMH Capital Advisors Inc. increased its holdings in Victory Capital by 4.4% in the fourth quarter. SMH Capital Advisors Inc. now owns 10,088 shares of the company’s stock valued at $271,000 after buying an additional 423 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Victory Capital by 3.9% in the first quarter. Sei Investments Co. now owns 11,801 shares of the company’s stock valued at $345,000 after buying an additional 446 shares in the last quarter. 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.