Bank of New York Mellon Corp Acquires Shares of 70,719 Virtus Investment Partners, Inc. $VRTS

Key Points

• Bank of New York Mellon acquired 70,719 Virtus Investment Partners shares worth approximately $10.15 million, giving it a 1.06% stake. Institutional investors and hedge funds collectively own 80.52% of VRTS.
• Virtus increased its quarterly dividend to $2.45 per share, or $9.80 annualized, representing a 6.2% yield and a 55.84% payout ratio.
• Analyst sentiment remains cautious: Morgan Stanley and Barclays maintained “underweight” ratings, while TD Cowen rated the stock “hold.” The consensus rating is “Reduce,” with an average price target of $145.50, below the reported $156.82 share price.

Bank of New York Mellon Corp acquired a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 70,719 shares of the closed-end fund's stock, valued at approximately $10,148,000. Bank of New York Mellon Corp owned approximately 1.06% of Virtus Investment Partners at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Two Sigma Investments LP grew its stake in Virtus Investment Partners by 574.8% during the 3rd quarter. Two Sigma Investments LP now owns 46,059 shares of the closed-end fund's stock valued at $8,753,000 after purchasing an additional 39,233 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Virtus Investment Partners by 101.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 77,937 shares of the closed-end fund's stock valued at $12,715,000 after purchasing an additional 39,188 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Virtus Investment Partners by 220.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 37,737 shares of the closed-end fund's stock valued at $7,171,000 after purchasing an additional 25,961 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Virtus Investment Partners during the 4th quarter valued at approximately $4,146,000. Finally, Zimmer Partners LP bought a new position in Virtus Investment Partners during the 4th quarter valued at $4,079,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Virtus Investment Partners

In related news, EVP Michael A. Angerthal sold 14,975 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the sale, the executive vice president owned 63,461 shares of the company's stock, valued at $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is owned by corporate insiders.

Virtus Investment Partners Trading Down 2.0%

NASDAQ:VRTS opened at $156.82 on Thursday. The business has a fifty day moving average of $161.93 and a 200-day moving average of $147.03. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 9.28 and a beta of 1.37. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a 1 year low of $121.61 and a 1 year high of $203.61.

Virtus Investment Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 6.2%. This is a boost from Virtus Investment Partners's previous quarterly dividend of $2.40. The ex-dividend date is Friday, October 30th. Virtus Investment Partners's payout ratio is 55.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley reissued an "underweight" rating and issued a $130.00 price objective on shares of Virtus Investment Partners in a report on Wednesday, July 29th. Barclays lowered their target price on shares of Virtus Investment Partners from $141.00 to $135.00 and set an "underweight" rating for the company in a research note on Friday, July 31st. Finally, TD Cowen increased their target price on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the stock a "hold" rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $145.50.

About Virtus Investment Partners

Virtus Investment Partners NASDAQ: VRTS is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company's product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.

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