Teacher Retirement System of Texas Cuts Stock Position in Virtus Investment Partners, Inc. $VRTS

Key Points

• Teacher Retirement System of Texas cut its stake in Virtus by 38.7% in Q4, selling 10,077 shares and now holding 15,982 shares worth about $2.61 million (≈0.24% of the company).
• Virtus announced a quarterly dividend of $2.40 (annualized $9.60), implying a 6.6% yield with an ex-dividend date of April 30 and payment on May 13.
• Analyst sentiment has weakened—several firms cut targets and issued underweight ratings, leaving an average MarketBeat rating of "Reduce" and an average price target of $158.

Teacher Retirement System of Texas decreased its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 38.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,982 shares of the closed-end fund's stock after selling 10,077 shares during the quarter. Teacher Retirement System of Texas owned about 0.24% of Virtus Investment Partners worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. NBT Bank N A NY increased its holdings in Virtus Investment Partners by 1,483.3% in the 3rd quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund's stock valued at $36,000 after purchasing an additional 178 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Virtus Investment Partners by 90.4% during the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund's stock worth $57,000 after purchasing an additional 150 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Virtus Investment Partners in the second quarter worth about $147,000. Oxford Asset Management LLP purchased a new stake in shares of Virtus Investment Partners in the second quarter worth about $217,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Virtus Investment Partners in the fourth quarter valued at about $257,000. 80.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Virtus Investment Partners

In other Virtus Investment Partners news, Director W Howard Morris bought 2,150 shares of Virtus Investment Partners stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $129.34 per share, for a total transaction of $278,081.00. Following the purchase, the director owned 2,000 shares in the company, valued at $258,680. This represents a -1,433.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.40% of the company's stock.

Virtus Investment Partners Trading Up 1.3%

NASDAQ:VRTS opened at $145.00 on Tuesday. The stock has a market cap of $968.90 million, a price-to-earnings ratio of 8.58 and a beta of 1.47. Virtus Investment Partners, Inc. has a one year low of $121.61 and a one year high of $215.06. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The business's 50-day simple moving average is $135.89 and its 200 day simple moving average is $154.08.

Virtus Investment Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be given a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners's dividend payout ratio is presently 48.02%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on VRTS shares. Morgan Stanley dropped their target price on Virtus Investment Partners from $155.00 to $125.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. Zacks Research upgraded Virtus Investment Partners from a "strong sell" rating to a "hold" rating in a report on Friday, January 16th. TD Cowen reaffirmed a "hold" rating on shares of Virtus Investment Partners in a research report on Monday, April 20th. Barclays reduced their target price on shares of Virtus Investment Partners from $142.00 to $128.00 and set an "underweight" rating on the stock in a research report on Friday, April 17th. Finally, Piper Sandler decreased their target price on shares of Virtus Investment Partners from $218.00 to $206.00 and set an "overweight" rating for the company in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $158.00.

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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