Deutsche Bank AG Takes $1.03 Million Position in Virtus Investment Partners, Inc. $VRTS

Deutsche Bank AG bought a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,147 shares of the closed-end fund's stock, valued at approximately $1,026,000. Deutsche Bank AG owned 0.11% of Virtus Investment Partners at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in VRTS. First Trust Advisors LP grew its stake in shares of Virtus Investment Partners by 38.1% in the first quarter. First Trust Advisors LP now owns 52,930 shares of the closed-end fund's stock worth $7,111,000 after purchasing an additional 14,600 shares during the last quarter. Renaissance Technologies LLC raised its position in Virtus Investment Partners by 73.1% during the 1st quarter. Renaissance Technologies LLC now owns 27,229 shares of the closed-end fund's stock worth $3,658,000 after purchasing an additional 11,500 shares during the last quarter. Sei Investments Co. raised its position in Virtus Investment Partners by 135.4% during the 1st quarter. Sei Investments Co. now owns 30,963 shares of the closed-end fund's stock worth $4,160,000 after purchasing an additional 17,811 shares during the last quarter. Empowered Funds LLC acquired a new position in Virtus Investment Partners during the 1st quarter worth about $2,058,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Virtus Investment Partners by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 305,115 shares of the closed-end fund's stock worth $40,990,000 after buying an additional 7,987 shares during the period. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Stock Performance

VRTS stock opened at $168.12 on Monday. Virtus Investment Partners, Inc. has a 1-year low of $121.61 and a 1-year high of $203.61. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $160.70 and a 200-day moving average price of $146.58. The firm has a market cap of $1.11 billion, a PE ratio of 9.95 and a beta of 1.37.

Virtus Investment Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, October 30th. This is a positive change from Virtus Investment Partners's previous quarterly dividend of $2.40. Virtus Investment Partners's dividend payout ratio (DPR) is currently 55.84%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VRTS shares. Piper Sandler decreased 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. Morgan Stanley reaffirmed an "underweight" rating and issued a $130.00 price objective on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. TD Cowen upped their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the company a "hold" rating in a report on Monday, July 20th. Finally, Barclays decreased 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 report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce" and an average target price of $145.50.

Insider Buying and Selling

In related news, EVP Michael A. Angerthal sold 14,975 shares of the company'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 transaction, the executive vice president directly owned 63,461 shares of the company's stock, valued at approximately $10,619,563.74. This represents a 19.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

Virtus Investment Partners Profile

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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