Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $145.74 and traded as high as $170.50. Virtus Investment Partners shares last traded at $168.29, with a volume of 93,213 shares changing hands.
Wall Street Analyst Weigh In
VRTS has been the subject of several analyst reports. 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 research note on Friday, July 31st. TD Cowen lifted 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. Morgan Stanley reaffirmed an "underweight" rating and set a $130.00 price objective on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. Finally, 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 report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Virtus Investment Partners presently has a consensus rating of "Reduce" and a consensus target price of $145.50.
Read Our Latest Report on VRTS
Virtus Investment Partners Trading Down 0.4%
The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.96 and a beta of 1.37. 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 has a fifty day moving average price of $156.33 and a 200 day moving average price of $145.74.
Virtus Investment Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $2.40 per share. The ex-dividend date was Friday, July 31st. This represents a $9.60 annualized dividend and a yield of 5.7%. Virtus Investment Partners's dividend payout ratio is currently 54.70%.
Insider Activity at Virtus Investment Partners
In other news, EVP Michael A. Angerthal sold 14,975 shares of the firm's stock in a transaction dated 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 directly owned 63,461 shares in the company, valued at $10,619,563.74. This trade represents a 19.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of Virtus Investment Partners in the 1st quarter valued at $26,000. Caitlin John LLC acquired a new position in shares of Virtus Investment Partners during the 2nd quarter valued at $35,000. Assetmark Inc. purchased a new stake in Virtus Investment Partners during the 1st quarter worth $36,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 125 shares during the period. Finally, 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 valued at $50,000 after purchasing an additional 224 shares in the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners Company Profile
(
Get Free Report)
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.
Further Reading
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