Virtus Investment Partners, Inc. (NASDAQ:VRTS) Announces Quarterly Dividend of $2.45

Key Points

• Virtus Investment Partners raised its quarterly dividend 2.1% to $2.45 per share from $2.40, implying an annualized yield of approximately 5.8%. Shareholders of record on October 30 will receive payment on November 13.
• VRTS shares rose 0.8% to $168.02 during Thursday trading, with a market capitalization of about $1.11 billion and a P/E ratio of 9.94.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of $145.50, below the current share price.

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) announced a quarterly dividend on Thursday, August 20th. Shareholders of record on Friday, October 30th will be given a dividend of 2.45 per share by the closed-end fund on Friday, November 13th. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, October 30th. This is a 2.1% increase from Virtus Investment Partners's previous quarterly dividend of $2.40.

Virtus Investment Partners has raised its dividend by an average of 0.3%per year over the last three years.

Virtus Investment Partners Stock Up 0.8%

Shares of VRTS stock traded up $1.37 during mid-day trading on Thursday, reaching $168.02. 104,165 shares of the company were exchanged, compared to its average volume of 113,580. 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 $157.29 and its 200 day simple moving average is $145.76. The company has a market capitalization of $1.11 billion, a P/E ratio of 9.94 and a beta of 1.37. Virtus Investment Partners has a fifty-two week low of $121.61 and a fifty-two week high of $203.61.

Analysts Set New Price Targets

VRTS has been the subject of several analyst reports. Barclays reduced their price target on shares of Virtus Investment Partners from $141.00 to $135.00 and set an "underweight" rating for the company in a report on Friday, July 31st. TD Cowen increased their price objective on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the stock a "hold" rating in a report on Monday, July 20th. Piper Sandler cut their price objective on shares of 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, Morgan Stanley reissued an "underweight" rating and set a $130.00 target price on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $145.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source