Renaissance Technologies LLC Acquires 11,500 Shares of Virtus Investment Partners, Inc. $VRTS

Key Points

• Renaissance Technologies increased its Virtus Investment Partners stake by 73.1% in the first quarter, purchasing 11,500 shares and bringing its holdings to 27,229 shares valued at approximately $3.66 million. Institutional investors collectively own 80.52% of VRTS.
• Virtus announced a quarterly dividend of $2.40 per share, equivalent to $9.60 annually and a 5.8% yield, with a payout ratio of 54.7%.
• Analyst sentiment remains cautious: VRTS has a consensus “Reduce” rating and an average price target of $145.50, below its reported $165.16 share price. An executive also sold 14,975 shares for roughly $2.51 million.

Renaissance Technologies LLC boosted its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 73.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,229 shares of the closed-end fund's stock after purchasing an additional 11,500 shares during the quarter. Renaissance Technologies LLC owned about 0.41% of Virtus Investment Partners worth $3,658,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 buying an additional 103 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Virtus Investment Partners by 10.8% in the 1st quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund's stock valued at $10,133,000 after acquiring an additional 5,734 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Virtus Investment Partners by 57.4% in the 1st quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund's stock valued at $2,679,000 after acquiring an additional 5,671 shares during the last quarter. Intech Investment Management LLC grew its position in Virtus Investment Partners by 20.8% in the first quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund's stock worth $1,135,000 after acquiring an additional 1,134 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Virtus Investment Partners by 26.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 11,776 shares of the closed-end fund's stock worth $2,136,000 after acquiring an additional 2,429 shares in the last quarter. Institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Stock Performance

Virtus Investment Partners stock opened at $165.16 on Friday. The company has a 50 day moving average price of $153.65 and a 200-day moving average price of $145.87. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $203.61. The company has a market capitalization of $1.10 billion, a PE ratio of 9.77 and a beta of 1.37.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a dividend of $2.40 per share. 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 5.8%. Virtus Investment Partners's payout ratio is 54.70%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

VRTS has been the topic of a number of recent research reports. Morgan Stanley restated an "underweight" rating and set a $130.00 price objective on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. Barclays dropped their target price 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. Piper Sandler cut their target price on Virtus Investment Partners from $181.00 to $170.00 and set an "overweight" rating on the stock in a research report on Monday, May 4th. Finally, TD Cowen increased their price target on Virtus Investment Partners from $136.00 to $147.00 and gave the company a "hold" rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Virtus Investment Partners presently has a consensus rating of "Reduce" and an average target price of $145.50.

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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