BlackRock Inc. acquired a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,056,614 shares of the closed-end fund's stock, valued at approximately $151,624,000. BlackRock Inc. owned 15.81% of Virtus Investment Partners as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp increased its position in shares of Virtus Investment Partners by 0.5% during the fourth quarter. State Street Corp now owns 306,375 shares of the closed-end fund's stock worth $49,985,000 after purchasing an additional 1,586 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Virtus Investment Partners by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 305,115 shares of the closed-end fund's stock valued at $40,990,000 after purchasing an additional 7,987 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Virtus Investment Partners by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 300,098 shares of the closed-end fund's stock worth $48,961,000 after buying an additional 2,917 shares during the last quarter. Victory Capital Management Inc. grew its stake in Virtus Investment Partners by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 245,344 shares of the closed-end fund's stock worth $40,028,000 after buying an additional 15,987 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Virtus Investment Partners by 6.9% during the fourth quarter. AQR Capital Management LLC now owns 122,725 shares of the closed-end fund's stock worth $20,023,000 after buying an additional 7,958 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners Trading Up 0.5%
VRTS opened at $168.12 on Friday. The stock has a market capitalization of $1.11 billion, a PE ratio of 9.95 and a beta of 1.37. The firm's fifty day moving average price is $160.70 and its 200 day moving average price is $146.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. Virtus Investment Partners, Inc. has a 12-month low of $121.61 and a 12-month high of $203.61.
Virtus Investment Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be issued a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, October 30th. This is an increase from Virtus Investment Partners's previous quarterly dividend of $2.40. This represents a $9.80 dividend on an annualized basis and a yield of 5.8%. Virtus Investment Partners's dividend payout ratio is presently 55.84%.
Insider Buying and Selling
In other Virtus Investment Partners news, EVP Michael A. Angerthal sold 14,975 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $167.34, for a total value of $2,505,916.50. Following the sale, the executive vice president directly owned 63,461 shares in the company, valued at approximately $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.40% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on VRTS. Morgan Stanley reaffirmed an "underweight" rating and set a $130.00 price objective on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. Piper Sandler cut their price target on Virtus Investment Partners from $181.00 to $170.00 and set an "overweight" rating for the company in a research note on Monday, May 4th. Barclays decreased their price target on Virtus Investment Partners from $141.00 to $135.00 and set an "underweight" rating for the company in a report on Friday, July 31st. Finally, TD Cowen lifted their price objective on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the company a "hold" rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Virtus Investment Partners has an average rating of "Reduce" and a consensus price target of $145.50.
Read Our Latest Stock Report on Virtus Investment Partners
About Virtus Investment Partners
(
Free Report)
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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