Empowered Funds LLC Invests $2.41 Million in Virtus Investment Partners, Inc. $VRTS

Empowered Funds LLC purchased a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 16,792 shares of the closed-end fund's stock, valued at approximately $2,410,000. Empowered Funds LLC owned 0.25% of Virtus Investment Partners at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Virtus Investment Partners during the second quarter worth $151,624,000. Bank of New York Mellon Corp purchased a new position in Virtus Investment Partners in the second quarter worth $10,148,000. Two Sigma Investments LP lifted its holdings in Virtus Investment Partners by 574.8% in the third quarter. Two Sigma Investments LP now owns 46,059 shares of the closed-end fund's stock valued at $8,753,000 after acquiring an additional 39,233 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Virtus Investment Partners by 101.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 77,937 shares of the closed-end fund's stock valued at $12,715,000 after acquiring an additional 39,188 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Virtus Investment Partners during the 2nd quarter worth $4,867,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRTS has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an "underweight" rating and set a $130.00 price target on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. TD Cowen raised 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 note on Monday, July 20th. Finally, Barclays decreased their price objective on shares of Virtus Investment Partners from $141.00 to $135.00 and set an "underweight" rating on the stock in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $145.50.

Insiders Place Their Bets

In other news, EVP Michael A. Angerthal sold 14,975 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was 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 in the company, valued at $10,619,563.74. This trade represents a 19.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.40% of the company's stock.

Virtus Investment Partners Stock Performance

NASDAQ VRTS opened at $156.82 on Thursday. Virtus Investment Partners, Inc. has a 1-year low of $121.61 and a 1-year high of $203.61. The company has a market capitalization of $1.04 billion, a P/E ratio of 9.28 and a beta of 1.37. The business has a 50 day moving average price of $161.93 and a 200 day moving average price of $147.03. 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 Increases Dividend

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

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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