Morgan Stanley upgraded shares of Victory Capital (NASDAQ:VCTR - Free Report) from an underweight rating to an equal weight rating in a research report sent to investors on Friday morning, Marketbeat.com reports. Morgan Stanley currently has $60.00 price target on the stock, up from their previous price target of $40.00.
A number of other research analysts have also issued reports on the company. UBS Group reduced their price objective on Victory Capital from $50.00 to $49.00 and set a "neutral" rating for the company in a research report on Wednesday, July 10th. Barclays began coverage on Victory Capital in a research report on Tuesday, August 27th. They set an "equal weight" rating and a $58.00 price target for the company. Bank of America boosted their price target on Victory Capital from $58.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, August 12th. 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. Finally, The Goldman Sachs Group boosted their price target on Victory Capital from $59.50 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $58.00.
Read Our Latest Research Report on VCTR
Victory Capital Stock Performance
NASDAQ:VCTR traded up $0.67 during midday trading on Friday, reaching $61.22. 234,838 shares of the company traded hands, compared to its average volume of 382,554. Victory Capital has a twelve month low of $28.66 and a twelve month high of $61.68. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 0.62 and a beta of 0.91. 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 company has a fifty day moving average price of $54.19 and a 200 day moving average price of $50.99.
Victory Capital (NASDAQ:VCTR - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.04. Victory Capital had a return on equity of 29.74% and a net margin of 27.87%. The business had revenue of $219.62 million during the quarter, compared to analyst estimates of $220.82 million. On average, analysts expect that Victory Capital will post 5.19 EPS for the current fiscal year.
Victory Capital Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Tuesday, September 10th. This is an increase from Victory Capital's previous quarterly dividend of $0.37. Victory Capital's payout ratio is currently 50.31%.
Institutional Investors Weigh In On Victory Capital
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Contravisory Investment Management Inc. raised its position in shares of Victory Capital by 53.2% during 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. Amalgamated Bank raised its position in shares of Victory Capital by 50.7% during the second 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. CWM LLC raised its position in shares of Victory Capital by 486.2% during the second quarter. CWM LLC now owns 680 shares of the company's stock worth $32,000 after purchasing an additional 564 shares during the period. Fiera Capital Corp raised its position in shares of Victory Capital by 0.9% during the second quarter. Fiera Capital Corp now owns 73,974 shares of the company's stock worth $3,531,000 after purchasing an additional 644 shares during the period. Finally, USA Financial Formulas grew its holdings in shares of Victory Capital by 157.9% during the third quarter. USA Financial Formulas now owns 1,104 shares of the company's stock valued at $61,000 after buying an additional 676 shares in the last quarter. 87.71% of the stock is owned by institutional investors and hedge funds.
About Victory Capital
(
Get Free Report)
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.
See Also
Before you consider Victory Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Victory Capital wasn't on the list.
While Victory Capital currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
