Virtus Investment Partners (NASDAQ:VRTS) EVP Sells 14,975 Shares of Stock

Key Points

• Executive sale: Virtus Investment Partners EVP Michael Angerthal sold 14,975 shares for approximately $2.51 million, reducing his ownership by 19.09% to 63,461 shares.
• Dividend and stock performance: The stock traded near $166.78, while the company announced a quarterly dividend of $2.40, equivalent to $9.60 annually and a 5.8% yield.
• Analyst outlook: Analysts have a consensus “Reduce” rating, with an average price target of $145.50, below the current share price; institutional investors own 80.52% of the company.

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) EVP Michael 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 transaction, the executive vice president owned 63,461 shares of the company's stock, valued at approximately $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Virtus Investment Partners Stock Performance

NASDAQ VRTS traded down $2.58 during trading hours on Tuesday, hitting $166.78. The company had a trading volume of 285,804 shares, compared to its average volume of 114,218. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.11 billion, a P/E ratio of 9.87 and a beta of 1.38. Virtus Investment Partners, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $203.61. The business has a fifty day simple moving average of $151.97 and a 200-day simple moving average of $145.85.

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 $2.40 dividend. The ex-dividend date is Friday, July 31st. This represents a $9.60 annualized dividend and a yield of 5.8%. Virtus Investment Partners's dividend payout ratio is 54.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRTS. Barclays cut their price target on Virtus Investment Partners from $141.00 to $135.00 and set an "underweight" rating on the stock in a report on Friday. Morgan Stanley reissued an "underweight" rating and issued a $130.00 price objective on shares of Virtus Investment Partners in a report on Wednesday, July 29th. TD Cowen raised their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the company a "hold" rating in a research report on Monday, July 20th. Finally, 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 note on Monday, May 4th. One research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $145.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Virtus Investment Partners by 86.2% during the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund's stock worth $39,000 after acquiring an additional 125 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Virtus Investment Partners during the first quarter valued at $2,058,000. Renaissance Technologies LLC lifted its holdings in shares of Virtus Investment Partners by 73.1% during the first quarter. Renaissance Technologies LLC now owns 27,229 shares of the closed-end fund's stock valued at $3,658,000 after purchasing an additional 11,500 shares during the last quarter. Sei Investments Co. boosted its position in shares of Virtus Investment Partners by 135.4% in the 1st quarter. Sei Investments Co. now owns 30,963 shares of the closed-end fund's stock valued at $4,160,000 after purchasing an additional 17,811 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Virtus Investment Partners by 38.1% in the 1st quarter. First Trust Advisors LP now owns 52,930 shares of the closed-end fund's stock valued at $7,111,000 after purchasing an additional 14,600 shares during the period. Institutional investors and hedge funds own 80.52% of the company's stock.

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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