First Trust Advisors LP Buys 14,600 Shares of Virtus Investment Partners, Inc. $VRTS

Key Points

• First Trust Advisors LP increased its Virtus Investment Partners stake by 38.1% in the first quarter, acquiring 14,600 additional shares for a total position worth approximately $7.1 million. Institutional investors collectively own 80.52% of VRTS.
• Analysts remain cautious, with a consensus rating of “Reduce” and an average price target of $145.50; ratings include one Buy, two Holds, and two Sells.
• Virtus declared a quarterly dividend of $2.40 per share, equivalent to $9.60 annually and a 6.0% yield. Shares opened at $159.89, with the stock trading between a 52-week low of $121.61 and high of $203.61.

First Trust Advisors LP lifted its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 38.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,930 shares of the closed-end fund's stock after acquiring an additional 14,600 shares during the quarter. First Trust Advisors LP owned approximately 0.79% of Virtus Investment Partners worth $7,111,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Illinois Municipal Retirement Fund raised its stake in Virtus Investment Partners by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 3,446 shares of the closed-end fund's stock worth $463,000 after buying an additional 77 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Virtus Investment Partners by 24.1% during the 4th 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 in the last quarter. New York State Teachers Retirement System increased its holdings in shares of Virtus Investment Partners by 1.9% in the 4th quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund's stock valued at $881,000 after acquiring an additional 100 shares during the period. Swiss National Bank increased its holdings in shares of Virtus Investment Partners by 0.8% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund's stock valued at $2,413,000 after acquiring an additional 100 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Virtus Investment Partners by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund's stock worth $681,000 after acquiring an additional 103 shares in the last quarter. Institutional investors own 80.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on VRTS. 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. TD Cowen upped their price target 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. 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. Finally, Morgan Stanley reissued an "underweight" rating and issued a $130.00 price objective on shares of Virtus Investment Partners in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $145.50.

Virtus Investment Partners Trading Down 2.2%

Shares of Virtus Investment Partners stock opened at $159.89 on Friday. The stock has a market cap of $1.07 billion, a PE ratio of 9.46 and a beta of 1.38. The firm has a fifty day moving average price of $151.44 and a 200 day moving average price of $146.05. 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 1 year low of $121.61 and a 1 year high of $203.61.

Virtus Investment Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a $2.40 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $9.60 dividend on an annualized basis and a yield of 6.0%. Virtus Investment Partners's payout ratio is presently 54.70%.

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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