Y Intercept Hong Kong Ltd Sells 6,666 Shares of Virtus Investment Partners, Inc. $VRTS

Key Points

• Y Intercept Hong Kong Ltd cut its stake in Virtus Investment Partners by 45.3% in the first quarter, selling 6,666 shares and leaving it with 8,061 shares worth about $1.08 million.
• Shares of VRTS rose 1.9% to $160.34, with trading volume slightly above average and the stock sitting between its 52-week low of $121.61 and high of $215.06.
• Virtus announced a quarterly dividend of $2.40 per share, payable August 14, implying a 6.0% annualized yield; analyst sentiment remains cautious with a consensus rating of “Reduce” and an average price target of $136.25.

Y Intercept Hong Kong Ltd trimmed its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 45.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,061 shares of the closed-end fund's stock after selling 6,666 shares during the period. Y Intercept Hong Kong Ltd owned 0.12% of Virtus Investment Partners worth $1,083,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of VRTS. Aster Capital Management DIFC Ltd increased its holdings in Virtus Investment Partners by 269.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund's stock worth $50,000 after purchasing an additional 224 shares in the last quarter. Osaic Holdings Inc. boosted 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 valued at $57,000 after purchasing an additional 150 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 97 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Virtus Investment Partners by 117.0% during the fourth quarter. Advisors Asset Management Inc. now owns 588 shares of the closed-end fund's stock worth $96,000 after purchasing an additional 317 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Virtus Investment Partners during the second quarter worth about $147,000. Institutional investors and hedge funds own 80.52% of the company's stock.

Virtus Investment Partners Trading Up 1.9%

Shares of VRTS traded up $3.00 during mid-day trading on Friday, reaching $160.34. 111,065 shares of the company were exchanged, compared to its average volume of 108,452. The business has a 50 day simple moving average of $144.40 and a two-hundred day simple moving average of $146.23. 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 stock has a market capitalization of $1.07 billion, a PE ratio of 9.49 and a beta of 1.38. Virtus Investment Partners, Inc. has a 52 week low of $121.61 and a 52 week high of $215.06.

Virtus Investment Partners Announces Dividend

The company 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 dividend of $2.40 per share. The ex-dividend date is Friday, July 31st. This represents a $9.60 annualized dividend and a yield of 6.0%. Virtus Investment Partners's dividend payout ratio (DPR) is presently 56.50%.

Analyst Upgrades and Downgrades

VRTS has been the subject of a number of research reports. Piper Sandler dropped their price objective on shares of Virtus Investment Partners from $181.00 to $170.00 and set an "overweight" rating for the company in a report on Monday, May 4th. Morgan Stanley boosted their target price on shares of Virtus Investment Partners from $112.00 to $119.00 and gave the stock an "underweight" rating in a report on Friday, June 26th. Barclays decreased their price target on shares of Virtus Investment Partners from $128.00 to $125.00 and set an "underweight" rating for the company in a research report on Monday, May 4th. Finally, TD Cowen dropped their price target on shares of Virtus Investment Partners from $132.00 to $131.00 and set a "hold" rating for the company in a research note on Monday, May 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $136.25.

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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