Virtus Investment Partners, Inc. is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients. It invests in the public equity, fixed income, and real estate markets. The firm also invests in exchange traded funds. It employs a multi manager approach for its products. The firm employs quantitative analysis to make its investments. It benchmarks the performance of its portfolios against the S&P 500 Index. The firm conducts in-house research to make its investments. Virtus Investment Partners, Inc. was founded in 1988 and is based in Hartford, Connecticut.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $289.00 to $268.00 and set an "overweight" rating for the company in a research note on Friday, July 15th. Morgan Stanley decreased their price objective on Virtus Investment Partners from $159.00 to $158.00 and set an "underweight" rating on the stock in a report on Monday, August 1st. Finally, StockNews.com lowered shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a report on Sunday, May 8th.
Virtus Investment Partners Price Performance
Shares of NASDAQ:VRTS opened at $204.27 on Wednesday. The stock has a market cap of $1.53 billion, a P/E ratio of 10.13 and a beta of 1.66. Virtus Investment Partners has a 1 year low of $161.30 and a 1 year high of $338.80. The firm has a 50-day moving average of $186.08 and a 200 day moving average of $207.84.
Virtus Investment Partners Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 29th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, July 28th. Virtus Investment Partners's dividend payout ratio (DPR) is 29.76%.
Insider Activity
In other news, Director W Howard Morris sold 151 shares of the business's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $192.09, for a total value of $29,005.59. Following the completion of the transaction, the director now owns 738 shares in the company, valued at $141,762.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company's stock.