Victory Capital (NASDAQ:VCTR) Price Target Raised to $62.00

Victory Capital (NASDAQ:VCTR) had its price target upped by Barclays from $59.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Bank of America dropped their price objective on shares of Victory Capital from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price target on shares of Victory Capital from $69.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. UBS Group dropped their price target on shares of Victory Capital from $71.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, BMO Capital Markets lifted their price target on shares of Victory Capital from $73.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Victory Capital has a consensus rating of “Hold” and an average price target of $70.00.

Victory Capital Stock Performance

VCTR opened at $64.61 on Monday. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.55 and a beta of 1.05. The company has a fifty day moving average of $57.88 and a 200 day moving average of $62.74. Victory Capital has a fifty-two week low of $43.82 and a fifty-two week high of $73.42. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.19 and a current ratio of 1.19.

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

Victory Capital Increases Dividend

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

Institutional Investors Weigh In On Victory Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its holdings in Victory Capital by 3,207.1% during the 4th quarter. Covestor Ltd now owns 463 shares of the company’s stock valued at $30,000 after buying an additional 449 shares in the last quarter. Versant Capital Management Inc purchased a new position in Victory Capital during the first quarter valued at approximately $34,000. Principal Securities Inc. raised its stake in Victory Capital by 35.2% in the fourth quarter. Principal Securities Inc. now owns 603 shares of the company’s stock worth $39,000 after buying an additional 157 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in Victory Capital in the first quarter worth approximately $37,000. Finally, SBI Securities Co. Ltd. bought a new position in Victory Capital in the fourth quarter worth approximately $43,000. 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.