Victory Capital (NASDAQ:VCTR) Price Target Raised to $55.00 at BMO Capital Markets

Victory Capital (NASDAQ:VCTR) had its price target boosted by BMO Capital Markets from $53.00 to $55.00 in a research note released on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group boosted their price target on Victory Capital from $33.00 to $36.00 and gave the stock a neutral rating in a report on Wednesday, January 10th. Royal Bank of Canada boosted their price target on Victory Capital from $40.00 to $43.00 and gave the stock an outperform rating in a report on Tuesday, February 13th. B. Riley reaffirmed a buy rating and issued a $48.00 price objective (up previously from $40.00) on shares of Victory Capital in a research report on Friday, February 16th. Finally, Morgan Stanley lifted their price objective on Victory Capital from $28.00 to $30.00 and gave the company an underweight rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $42.14.

Victory Capital Stock Performance

NASDAQ VCTR opened at $44.66 on Wednesday. Victory Capital has a fifty-two week low of $27.73 and a fifty-two week high of $45.38. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 0.56 and a beta of 1.00. The business has a fifty day moving average of $40.07 and a 200-day moving average of $35.25. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.94.

Victory Capital (NASDAQ:VCTR) last released its quarterly earnings results on Friday, February 9th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.02. Victory Capital had a return on equity of 28.70% and a net margin of 25.96%. The company had revenue of $205.80 million during the quarter, compared to analysts’ expectations of $204.20 million. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts predict that Victory Capital will post 5.02 earnings per share for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a $0.335 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Victory Capital’s previous quarterly dividend of $0.32. Victory Capital’s payout ratio is currently 42.81%.

Institutional Investors Weigh In On Victory Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new stake in Victory Capital during the first quarter valued at about $298,000. Annex Advisory Services LLC purchased a new stake in Victory Capital during the first quarter valued at about $555,000. Quadrature Capital Ltd purchased a new stake in Victory Capital during the fourth quarter valued at about $688,000. Vanguard Group Inc. grew its position in Victory Capital by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 3,212,173 shares of the company’s stock valued at $110,627,000 after acquiring an additional 104,746 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Victory Capital by 426.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock valued at $20,310,000 after acquiring an additional 477,798 shares during the period. Hedge funds and other 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.