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

Victory Capital (NASDAQ:VCTR) had its price target increased by The Goldman Sachs Group from $60.00 to $68.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also commented on VCTR. JPMorgan Chase & Co. lifted their price objective on shares of Victory Capital from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Royal Bank of Canada upped their price objective on Victory Capital from $55.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, October 11th. UBS Group lifted their target price on Victory Capital from $49.00 to $64.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. BMO Capital Markets upped their price target on Victory Capital from $69.00 to $71.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Bank of America lifted their price objective on shares of Victory Capital from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Victory Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

Victory Capital Stock Performance

Shares of VCTR opened at $63.51 on Tuesday. The company’s 50 day simple moving average is $58.01 and its 200-day simple moving average is $53.30. Victory Capital has a 12-month low of $31.18 and a 12-month high of $70.56. The firm has a market cap of $4.12 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.57 and a beta of 0.90. 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 business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 9th will be given a dividend of $0.44 per share. This is a positive change from Victory Capital’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, December 9th. Victory Capital’s payout ratio is presently 43.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VCTR. Contravisory Investment Management Inc. grew its holdings in shares of Victory Capital by 53.2% in the 3rd quarter. Contravisory Investment Management Inc. now owns 573 shares of the company’s stock worth $32,000 after acquiring an additional 199 shares during the period. FMR LLC boosted its position in Victory Capital by 18.1% during the third quarter. FMR LLC now owns 1,341 shares of the company’s stock worth $74,000 after purchasing an additional 206 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Victory Capital by 367.5% in the third quarter. Farther Finance Advisors LLC now owns 575 shares of the company’s stock valued at $32,000 after purchasing an additional 452 shares during the last quarter. Amalgamated Bank increased its position in shares of Victory Capital by 50.7% in the second quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after buying an additional 479 shares in the last quarter. Finally, CWM LLC increased its holdings in Victory Capital by 486.2% during the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after acquiring an additional 564 shares in the last quarter. 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.