Bank of America Increases Victory Capital (NASDAQ:VCTR) Price Target to $59.00

Victory Capital (NASDAQ:VCTR) had its target price upped by Bank of America from $58.00 to $59.00 in a research note released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

VCTR has been the subject of a number of other reports. UBS Group decreased their price target on Victory Capital from $50.00 to $49.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. B. Riley lifted their price objective on shares of Victory Capital from $48.00 to $57.00 and gave the stock a buy rating in a research report on Friday, April 19th. Royal Bank of Canada increased their price objective on shares of Victory Capital from $47.00 to $56.00 and gave the company an outperform rating in a research report on Tuesday, May 14th. Morgan Stanley lifted their target price on shares of Victory Capital from $32.00 to $39.00 and gave the stock an underweight rating in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Victory Capital from $43.00 to $45.00 and gave the company a neutral rating in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Victory Capital has an average rating of Moderate Buy and an average target price of $52.63.

Victory Capital Stock Up 4.1 %

VCTR stock opened at $51.47 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $49.41 and a two-hundred day moving average price of $45.78. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 0.57 and a beta of 0.93. Victory Capital has a twelve month low of $28.66 and a twelve month high of $54.94.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, September 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio is presently 45.40%.

Institutional Investors Weigh In On Victory Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Scientech Research LLC bought a new position in Victory Capital during the 2nd quarter worth $582,000. Mackenzie Financial Corp bought a new position in Victory Capital in the 2nd quarter valued at about $346,000. The Manufacturers Life Insurance Company raised its position in shares of Victory Capital by 27.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,450 shares of the company’s stock valued at $1,262,000 after buying an additional 5,697 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in shares of Victory Capital by 43.2% during the 2nd quarter. Dark Forest Capital Management LP now owns 35,850 shares of the company’s stock worth $1,711,000 after acquiring an additional 10,819 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Victory Capital by 47.6% during the 2nd quarter. Sei Investments Co. now owns 167,162 shares of the company’s stock worth $7,979,000 after acquiring an additional 53,908 shares in the last quarter. 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.