Empowered Funds LLC Acquires New Holdings in Virtus Investment Partners, Inc. $VRTS

Empowered Funds LLC bought a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,319 shares of the closed-end fund's stock, valued at approximately $2,058,000. Empowered Funds LLC owned about 0.23% of Virtus Investment Partners at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Virtus Investment Partners during the first quarter valued at about $26,000. Assetmark Inc. purchased a new position in shares of Virtus Investment Partners in the 1st quarter worth approximately $36,000. Aster Capital Management DIFC Ltd raised its stake in shares of Virtus Investment Partners by 269.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund's stock worth $50,000 after acquiring an additional 224 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Virtus Investment Partners by 90.4% during the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund's stock worth $57,000 after acquiring an additional 150 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Virtus Investment Partners by 24.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund's stock valued at $81,000 after acquiring an additional 97 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VRTS has been the subject of several recent analyst reports. Piper Sandler lowered their target price on shares of 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 objective 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. TD Cowen raised their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a "hold" rating in a research report on Monday, July 20th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $130.00 target price on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $145.50.

Virtus Investment Partners Price Performance

Shares of NASDAQ VRTS opened at $163.90 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.70 and a beta of 1.37. The firm's 50 day simple moving average is $153.21 and its 200-day simple moving average is $145.73. Virtus Investment Partners, Inc. has a 12 month low of $121.61 and a 12 month high of $203.61.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, July 31st. Virtus Investment Partners's dividend payout ratio (DPR) is currently 54.70%.

Insiders Place Their Bets

In other Virtus Investment Partners news, EVP Michael A. Angerthal sold 14,975 shares of Virtus Investment Partners stock in a transaction on 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 completion of the transaction, the executive vice president owned 63,461 shares of the company's stock, valued at approximately $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.40% of the company's stock.

Virtus Investment Partners Company 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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