Victory Capital (NASDAQ:VCTR) Price Target Raised to $75.00

Victory Capital (NASDAQ:VCTR) had its price objective upped by Royal Bank of Canada from $72.00 to $75.00 in a research report released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on VCTR. BMO Capital Markets increased their price target on Victory Capital from $73.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. UBS Group reduced their price target on Victory Capital from $71.00 to $68.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Bank of America reduced their price target on Victory Capital from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Barclays lifted their target price on Victory Capital from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Victory Capital currently has an average rating of “Hold” and an average target price of $70.00.

Victory Capital Price Performance

NASDAQ:VCTR opened at $64.76 on Tuesday. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.55 and a beta of 1.05. Victory Capital has a 1 year low of $43.82 and a 1 year high of $73.42. The business has a 50 day simple moving average of $57.76 and a 200-day simple moving average of $62.73. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings data on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $219.60 million during the quarter, compared to the consensus estimate of $226.38 million. Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. Victory Capital’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities analysts forecast that Victory Capital will post 6.16 EPS for the current year.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a $0.49 dividend. The ex-dividend date is Tuesday, June 10th. This is an increase from Victory Capital’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.03%. Victory Capital’s dividend payout ratio (DPR) is currently 43.65%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of Victory Capital by 3,207.1% in the 4th quarter. Covestor Ltd now owns 463 shares of the company’s stock valued at $30,000 after acquiring an additional 449 shares during the period. Versant Capital Management Inc acquired a new stake in shares of Victory Capital in the 1st quarter worth $34,000. Opal Wealth Advisors LLC acquired a new stake in shares of Victory Capital in the 1st quarter worth $37,000. Principal Securities Inc. boosted its position in shares of Victory Capital by 35.2% in the 4th quarter. Principal Securities Inc. now owns 603 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Victory Capital in the 1st quarter worth $41,000. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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.