Victory Capital (NASDAQ:VCTR) Price Target Raised to $71.00

Victory Capital (NASDAQ:VCTR) had its price target lifted by JPMorgan Chase & Co. from $70.00 to $71.00 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on VCTR. Zacks Research cut shares of Victory Capital from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a research report on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Victory Capital from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $76.00 target price on shares of Victory Capital in a research report on Tuesday, September 23rd. Finally, Bank of America increased their price target on Victory Capital from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.11.

Victory Capital Stock Performance

VCTR stock opened at $69.15 on Tuesday. The stock’s 50 day simple moving average is $64.41 and its 200 day simple moving average is $66.32. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41. Victory Capital has a 12-month low of $47.00 and a 12-month high of $73.00. The stock has a market capitalization of $4.49 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.69 and a beta of 1.07.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Thursday, November 6th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The business had revenue of $361.20 million during the quarter, compared to analyst estimates of $361.14 million. Victory Capital had a return on equity of 24.23% and a net margin of 25.27%.The company’s quarterly revenue was up 60.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.35 EPS. As a group, research analysts forecast that Victory Capital will post 6.16 earnings per share for the current fiscal year.

Victory Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Wednesday, December 10th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, December 10th. Victory Capital’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Trading of Victory Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vicus Capital bought a new stake in Victory Capital during the 2nd quarter valued at approximately $279,000. Annex Advisory Services LLC grew its holdings in Victory Capital by 4.6% during the 3rd quarter. Annex Advisory Services LLC now owns 544,078 shares of the company’s stock valued at $35,234,000 after buying an additional 24,050 shares in the last quarter. Amundi bought a new stake in shares of Victory Capital during the second quarter valued at approximately $213,219,000. New York State Teachers Retirement System lifted its holdings in shares of Victory Capital by 418.8% in the third quarter. New York State Teachers Retirement System now owns 19,477 shares of the company’s stock worth $1,261,000 after buying an additional 15,723 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Victory Capital by 55.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,816 shares of the company’s stock worth $370,000 after acquiring an additional 2,063 shares during the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Victory Capital

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.