The Goldman Sachs Group Issues Positive Forecast for Victory Capital (NASDAQ:VCTR) Stock Price

Victory Capital (NASDAQ:VCTR) had its price objective hoisted by The Goldman Sachs Group from $60.00 to $68.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Victory Capital from $69.00 to $71.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Bank of America lifted their price target on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a report on Monday, August 12th. Barclays increased their price objective on shares of Victory Capital from $59.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Royal Bank of Canada raised their price objective on Victory Capital from $55.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Victory Capital from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Victory Capital Stock Performance

NASDAQ:VCTR opened at $63.20 on Tuesday. The stock has a 50-day moving average price of $58.25 and a 200 day moving average price of $53.38. The stock has a market capitalization of $4.10 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.56 and a beta of 0.90. Victory Capital has a 12-month low of $31.18 and a 12-month high of $70.56. The company has a current ratio of 1.19, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.

Victory Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 9th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.78%. This is an increase from Victory Capital’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, December 9th. Victory Capital’s dividend payout ratio is presently 40.80%.

Hedge Funds Weigh In On Victory Capital

A number of large investors have recently bought and sold shares of the business. Contravisory Investment Management Inc. increased its stake in Victory Capital by 53.2% in the third quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after purchasing an additional 199 shares during the period. FMR LLC lifted its stake in Victory Capital by 18.1% in the third quarter. FMR LLC now owns 1,341 shares of the company’s stock worth $74,000 after acquiring an additional 206 shares during the period. HighTower Advisors LLC increased its position in Victory Capital by 4.2% during the 3rd quarter. HighTower Advisors LLC now owns 9,351 shares of the company’s stock valued at $520,000 after purchasing an additional 377 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Victory Capital by 367.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock valued at $32,000 after purchasing an additional 452 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Victory Capital by 50.7% in the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock worth $68,000 after purchasing an additional 479 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.