Victory Capital (NASDAQ:VCTR) Price Target Raised to $59.00 at Bank of America

Victory Capital (NASDAQ:VCTR) had its price objective increased by Bank of America from $58.00 to $59.00 in a research note published on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other analysts have also recently weighed in on VCTR. JPMorgan Chase & Co. raised their target price on shares of Victory Capital from $43.00 to $45.00 and gave the company a neutral rating in a report on Monday, May 13th. UBS Group decreased their price objective on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Morgan Stanley boosted their target price on shares of Victory Capital from $32.00 to $39.00 and gave the stock an underweight rating in a research note on Wednesday, May 15th. B. Riley raised their price target on Victory Capital from $48.00 to $57.00 and gave the company a buy rating in a research note on Friday, April 19th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $57.00 price target (up from $55.00) on shares of Victory Capital in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Victory Capital currently has a consensus rating of Hold and an average target price of $51.86.

Victory Capital Stock Up 1.5 %

NASDAQ VCTR traded up $0.73 during trading hours on Monday, hitting $48.40. 8,861 shares of the company were exchanged, compared to its average volume of 406,926. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.92. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.57 and a beta of 0.93. The company has a 50 day moving average of $49.46 and a two-hundred day moving average of $45.65. Victory Capital has a 52-week low of $28.66 and a 52-week high of $54.94.

Victory Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.41 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.64 annualized dividend and a dividend yield of 3.39%. Victory Capital’s dividend payout ratio (DPR) is presently 45.40%.

Institutional Trading of Victory Capital

Large investors have recently made changes to their positions in the company. Capital World Investors lifted its stake in 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 buying an additional 1,025,954 shares during the last quarter. Swedbank AB acquired a new stake in Victory Capital during the 1st quarter worth $29,701,000. Vanguard Group Inc. grew 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 purchasing an additional 527,190 shares during the last quarter. Goldman Sachs Group Inc. grew its position in 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 purchasing an additional 477,798 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its holdings in shares of Victory Capital by 35.0% in the first quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock valued at $47,138,000 after buying an additional 288,280 shares during the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.

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.