Victory Capital (NASDAQ:VCTR) PT Lowered to $58.00 at Bank of America

Victory Capital (NASDAQ:VCTR) had its price objective trimmed by Bank of America from $59.00 to $58.00 in a report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also commented on VCTR. B. Riley raised their price objective on Victory Capital from $48.00 to $57.00 and gave the company a buy rating in a report on Friday, April 19th. BMO Capital Markets reissued an outperform rating and issued a $57.00 price target (up previously from $55.00) on shares of Victory Capital in a report on Monday, May 13th. UBS Group decreased their price objective on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Victory Capital from $43.00 to $45.00 and gave the stock a neutral rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada raised their price target on shares of Victory Capital from $47.00 to $56.00 and gave the company an outperform rating in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $51.57.

Victory Capital Stock Performance

Shares of NASDAQ VCTR opened at $50.99 on Friday. The company has a market capitalization of $3.30 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.55 and a beta of 0.93. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.71 and a current ratio of 0.71. The company’s fifty day moving average price is $50.15 and its 200 day moving average price is $43.21. Victory Capital has a 1 year low of $28.66 and a 1 year high of $54.94.

Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings data on Thursday, May 9th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. Victory Capital had a net margin of 26.28% and a return on equity of 29.23%. The business had revenue of $215.86 million during the quarter, compared to the consensus estimate of $219.14 million. On average, research analysts predict that Victory Capital will post 5.21 earnings per share for the current year.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 10th. This is a positive change from Victory Capital’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 2.90%. Victory Capital’s payout ratio is presently 45.40%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Capital World Investors grew its holdings in shares of Victory Capital by 85.8% in the first 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. Swedbank AB acquired a new position in Victory Capital in the 1st quarter valued at about $29,701,000. Vanguard Group Inc. grew its stake in shares of Victory Capital by 16.4% in the 1st quarter. Vanguard Group Inc. now owns 3,739,363 shares of the company’s stock valued at $158,661,000 after buying an additional 527,190 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Victory Capital by 426.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 589,710 shares of the company’s stock worth $20,310,000 after buying an additional 477,798 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of Victory Capital by 35.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 1,110,948 shares of the company’s stock valued at $47,138,000 after buying an additional 288,280 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

Victory Capital Company Profile

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.