Victory Capital (NASDAQ:VCTR) Raised to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Victory Capital (NASDAQ:VCTR) from an underweight rating to an equal weight rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. They currently have $60.00 price target on the stock, up from their prior price target of $40.00.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted 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. The Goldman Sachs Group upped their price objective on Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America upped their target price on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Barclays started coverage on shares of Victory Capital in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $58.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Victory Capital presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Victory Capital Stock Performance

Shares of Victory Capital stock opened at $61.22 on Friday. 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 50 day simple moving average of $54.43 and a 200 day simple moving average of $51.13. Victory Capital has a fifty-two week low of $28.66 and a fifty-two week high of $61.68. The firm has a market cap of $3.96 billion, a P/E ratio of 18.78, a P/E/G ratio of 0.62 and a beta of 0.91.

Victory Capital (NASDAQ:VCTR) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $219.62 million for the quarter, compared to analyst estimates of $220.82 million. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. Sell-side analysts predict that Victory Capital will post 5.19 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Tuesday, September 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio (DPR) is currently 50.31%.

Hedge Funds Weigh In On Victory Capital

A number of large investors have recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Victory Capital by 85.8% in the first quarter. Capital World Investors now owns 2,221,954 shares of the company’s stock valued at $94,278,000 after purchasing an additional 1,025,954 shares during the last quarter. Swedbank AB acquired a new stake in Victory Capital in the 1st quarter valued at $29,701,000. Vanguard Group Inc. lifted its position in Victory Capital by 16.4% during the 1st quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock worth $158,661,000 after buying an additional 527,190 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Victory Capital by 35.0% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock valued at $47,138,000 after acquiring an additional 288,280 shares in the last quarter. Institutional investors and hedge funds own 87.71% of the company’s stock.

Victory Capital Company Profile

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.