Victory Capital (NASDAQ:VCTR) Given New $60.00 Price Target at The Goldman Sachs Group

Victory Capital (NASDAQ:VCTR) had its target price upped by The Goldman Sachs Group from $59.50 to $60.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on VCTR. Royal Bank of Canada lowered their price target on Victory Capital from $56.00 to $55.00 and set an outperform rating for the company in a research report on Tuesday, August 13th. Morgan Stanley boosted their price target on Victory Capital from $39.00 to $40.00 and gave the stock an underweight rating in a research note on Tuesday, August 13th. Barclays began coverage on Victory Capital in a research note on Tuesday, August 27th. They issued an equal weight rating and a $58.00 price target on the stock. UBS Group cut their price target on Victory Capital from $50.00 to $49.00 and set a neutral rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price target on Victory Capital from $45.00 to $49.00 and gave the stock a neutral rating in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $53.78.

Victory Capital Stock Up 2.3 %

VCTR stock opened at $57.58 on Thursday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 17.66, a PEG ratio of 0.61 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.91 and a current ratio of 0.91. Victory Capital has a one year low of $28.66 and a one year high of $58.02. The company has a 50 day moving average price of $52.43 and a two-hundred day moving average price of $50.02.

Victory Capital (NASDAQ:VCTR) last released its earnings results on Thursday, August 8th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $219.62 million during the quarter, compared to analysts’ expectations of $220.82 million. Victory Capital had a net margin of 27.87% and a return on equity of 29.74%. As a group, sell-side analysts expect that Victory Capital will post 5.19 EPS for the current 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 issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, September 10th. 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 2.85%. Victory Capital’s dividend payout ratio is 50.31%.

Hedge Funds Weigh In On Victory Capital

Institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after purchasing an additional 564 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Victory Capital by 50.7% during the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after purchasing an additional 479 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Victory Capital by 200.0% during the second quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after purchasing an additional 1,800 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Victory Capital during the second quarter valued at approximately $156,000. Finally, Rothschild Investment LLC bought a new position in shares of Victory Capital during the second quarter valued at approximately $202,000. 87.71% of the stock is owned by institutional investors.

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.