Victory Capital Holdings, Inc. (NASDAQ: VCTR) has announced a new $200 million share repurchase program, marking the largest in its history. The company's prior $100 million stock repurchase authorization, approved in the fourth quarter of 2023, has been completed.
As of November 30, 2024, Victory Capital had total assets under management of $179.7 billion and $184.0 billion in total client assets. The company employs a next-generation business strategy that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors. The company offers a wide array of investment products and services, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, a 529 Education Savings Plan, and brokerage services.
The share repurchase program may be suspended or discontinued at any time. This move comes as Victory Capital aims to remain flexible and opportunistic with its capital, supporting its strategy for increasing earnings and cash flow. The company's capital allocation strategy directly aligns with its growth objectives and the ability to return capital to shareholders through share repurchases and dividends. The market has reacted to these announcements by moving the company's shares 3.0% to a price of $64.46. For more information, read the company's full 8-K submission here.
