Victory Capital Price Target Increased to $70.00 by Barclays

Victory Capital (NASDAQ:VCTR) saw its price target raised by Barclays, which is now set at $70.00, up from the previous target of $69.00. This adjustment was announced in a research report released on Friday, and the firm has assigned the stock an "equal weight" rating. The new target price suggests a potential upside of approximately 5.89% based on the company's closing price prior to the report.

Analysts' Views on Victory Capital

Victory Capital has been the subject of several recent reports from various financial institutions. For instance, the Royal Bank of Canada elevated its target price for Victory Capital shares from $61.00 to $72.00, along with an "outperform" rating issued on November 14th. Similarly, Goldman Sachs raised its price target from $60.00 to $68.00 with a "buy" rating given on November 12th. Moreover, UBS Group adjusted its price target from $49.00 to $64.00, rating it as "neutral," and BMO Capital Markets lifted their target from $71.00 to $78.00 while also giving an "outperform" rating on December 19th. Lastly, analyst firm B. Riley maintained a "neutral" rating, increasing its target to $60.00 from the previous $57.00 in a January 7th note. Currently, five analysts rate the stock as holding while four have issued buy ratings, leading to a consensus rating of "Hold" and an average price target of $65.11 according to MarketBeat.

Victory Capital Stock Performance

On Friday, shares of Victory Capital rose by 0.8%, reflecting an increase of $0.53, bringing the stock price to $66.11. During the trading session, a total of 66,075 shares were exchanged, which is significantly lower than the average trading volume of 275,325. The stock's current 50-day moving average stands at $65.88, while the 200-day moving average is at $58.06. Over the past 12 months, Victory Capital has recorded a low of $33.39 and a high of $73.42. Additionally, the company maintains a quick ratio of 1.19, a current ratio of 1.19, and a debt-to-equity ratio of 0.84. The market capitalization of Victory Capital is currently around $4.30 billion, with a price-to-earnings (P/E) ratio of 16.44 and a price-to-earnings-growth (PEG) ratio of 0.45.

Institutional Investor Activity

Recent shifts in institutional investment suggest a growing interest in Victory Capital. For instance, in the third quarter, Contravisory Investment Management Inc. increased its shareholding by 53.2%, acquiring an additional 199 shares to reach a total of 573 shares valued at $32,000. Farther Finance Advisors LLC reported a staggering increase of 367.5% in shares, bringing its total to 575, also valued at approximately $32,000. Furthermore, USA Financial Formulas expanded its holdings by 157.9%, now owning 1,104 shares worth about $61,000 after purchasing an additional 676. Amalgamated Bank raised its stake by 50.7% in the second quarter, attaining a total of 1,423 shares at a value of $68,000. Notably, 87.71% of Victory Capital's shares are currently owned by hedge funds and other institutional investors.

About Victory Capital

Victory Capital Holdings, Inc. operates as an asset management company in the U.S. and internationally. The company specializes in investment advisory services along with fund administration, compliance, transfer agent services, distribution, and management services. Victory Capital offers unique investment strategies tailored to institutions, intermediaries, retirement platforms, as well as individual investors.

Victory, Capital, Stocks