Wall Street Zen upgraded shares of Victory Capital (NASDAQ:VCTR – Free Report) from a hold rating to a buy rating in a report released on Saturday morning.
Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Victory Capital from $72.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Victory Capital in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Victory Capital in a research note on Monday, April 20th. Barclays upped their price target on shares of Victory Capital from $74.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Morgan Stanley set a $76.00 price target on shares of Victory Capital in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Victory Capital currently has an average rating of “Moderate Buy” and a consensus target price of $82.71.
Check Out Our Latest Research Report on Victory Capital
Victory Capital Stock Down 2.8%
Victory Capital (NASDAQ:VCTR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.19. The business had revenue of $387.99 million for the quarter, compared to the consensus estimate of $364.97 million. Victory Capital had a net margin of 25.79% and a return on equity of 22.15%. The company’s quarterly revenue was up 76.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. Research analysts anticipate that Victory Capital will post 6.73 EPS for the current year.
Victory Capital Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, June 10th. This represents a $2.00 annualized dividend and a yield of 2.3%. This is an increase from Victory Capital’s previous quarterly dividend of $0.49. Victory Capital’s dividend payout ratio (DPR) is currently 44.14%.
Hedge Funds Weigh In On Victory Capital
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Victory Capital by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 4,814,857 shares of the company’s stock worth $303,769,000 after purchasing an additional 73,142 shares during the period. Capital World Investors lifted its stake in shares of Victory Capital by 4.3% in the 4th quarter. Capital World Investors now owns 3,768,001 shares of the company’s stock worth $237,723,000 after purchasing an additional 155,732 shares during the period. Amundi bought a new position in shares of Victory Capital in the 4th quarter worth approximately $192,735,000. State Street Corp lifted its stake in shares of Victory Capital by 0.5% in the 4th quarter. State Street Corp now owns 1,857,636 shares of the company’s stock worth $117,198,000 after purchasing an additional 8,322 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Victory Capital by 14.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,743,465 shares of the company’s stock worth $114,163,000 after purchasing an additional 221,471 shares during the period. Institutional investors own 87.71% of the company’s stock.
About Victory Capital
Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.
Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.
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