Barclays Boosts Victory Capital (NASDAQ:VCTR) Price Target to $69.00

Victory Capital (NASDAQ:VCTR) had its price target hoisted by Barclays from $59.00 to $69.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley lifted their price objective on Victory Capital from $60.00 to $64.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America lifted their price objective on Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price objective on Victory Capital from $59.50 to $60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price objective on Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada boosted their price target on Victory Capital from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.56.

Victory Capital Stock Performance

NASDAQ VCTR opened at $70.21 on Monday. The firm has a market capitalization of $4.55 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.70 and a beta of 0.90. Victory Capital has a 1-year low of $30.60 and a 1-year high of $70.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day simple moving average is $57.33 and its 200-day simple moving average is $53.07.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.51%. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, December 9th. Victory Capital’s dividend payout ratio is presently 43.78%.

Hedge Funds Weigh In On Victory Capital

Institutional investors have recently made changes to their positions in the business. Capital World Investors raised 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 in the last quarter. Swedbank AB raised its position in shares of Victory Capital by 7.1% in the 2nd quarter. Swedbank AB now owns 750,000 shares of the company’s stock valued at $35,798,000 after purchasing an additional 50,000 shares in the last quarter. Sei Investments Co. raised its position in shares of Victory Capital by 106.7% in the 1st quarter. Sei Investments Co. now owns 113,254 shares of the company’s stock valued at $4,805,000 after purchasing an additional 58,458 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Victory Capital in the 1st quarter valued at approximately $884,000. Finally, Acadian Asset Management LLC raised its position in shares of Victory Capital by 73.0% in the 1st quarter. Acadian Asset Management LLC now owns 416,120 shares of the company’s stock valued at $17,649,000 after purchasing an additional 175,576 shares in the last quarter. 87.71% of the stock is 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.