Royal Bank of Canada Raises Victory Capital (NASDAQ:VCTR) Price Target to $61.00

Victory Capital (NASDAQ:VCTR) had its price target raised by Royal Bank of Canada from $55.00 to $61.00 in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

VCTR has been the subject of a number of other reports. Barclays initiated coverage on Victory Capital in a report on Tuesday, August 27th. They issued an equal weight rating and a $58.00 price target for the company. The Goldman Sachs Group lifted their price objective on Victory Capital from $59.50 to $60.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. UBS Group lowered their price objective on Victory Capital from $50.00 to $49.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Bank of America lifted their price objective on Victory Capital from $58.00 to $59.00 and gave the stock a buy rating in a research report on Monday, August 12th. Finally, Morgan Stanley lifted their price objective on Victory Capital from $39.00 to $40.00 and gave the stock an underweight rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $54.44.

Victory Capital Stock Performance

Victory Capital stock opened at $58.58 on Friday. The stock has a 50-day simple moving average of $53.33 and a 200 day simple moving average of $50.74. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.87. Victory Capital has a 12-month low of $28.66 and a 12-month high of $59.05. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 0.61 and a beta of 0.91.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The business had revenue of $219.62 million during the quarter, compared to analysts’ expectations of $220.82 million. On average, research analysts anticipate that Victory Capital will post 5.19 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.41 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Tuesday, September 10th. Victory Capital’s payout ratio is presently 50.31%.

Hedge Funds Weigh In On Victory Capital

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of 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 during the period. Capital World Investors grew its position in shares of Victory Capital by 85.8% in the 1st 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 period. LSV Asset Management grew its position in shares of Victory Capital by 2.7% in the 2nd quarter. LSV Asset Management now owns 1,294,722 shares of the company’s stock valued at $61,797,000 after purchasing an additional 34,000 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Victory Capital by 8.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,205,601 shares of the company’s stock valued at $57,543,000 after purchasing an additional 94,653 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in shares of Victory Capital by 12.7% in the 1st quarter. TimesSquare Capital Management LLC now owns 825,747 shares of the company’s stock valued at $35,036,000 after purchasing an additional 93,176 shares during the period. 87.71% of the stock is currently owned by institutional investors and hedge funds.

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.