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.
Virtus Investment Partners Price Performance
NASDAQ:VRTS traded up $4.72 on Friday, reaching $218.12. 38,950 shares of the stock traded hands, compared to its average volume of 58,015. The firm's fifty day simple moving average is $187.40 and its 200 day simple moving average is $207.29. The company has a quick ratio of 4.26, a current ratio of 8.78 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 10.82 and a beta of 1.66. Virtus Investment Partners has a 12 month low of $161.30 and a 12 month high of $338.80.
Virtus Investment Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 29th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Thursday, July 28th. Virtus Investment Partners's dividend payout ratio is presently 29.76%.
Wall Street Analyst Weigh In
Several research firms recently commented on VRTS. Piper Sandler lowered their target price on Virtus Investment Partners from $289.00 to $268.00 and set an "overweight" rating on the stock in a research report on Friday, July 15th. Morgan Stanley lowered their target price on Virtus Investment Partners from $159.00 to $158.00 and set an "underweight" rating on the stock in a research report on Monday, August 1st. Finally, StockNews.com cut Virtus Investment Partners from a "buy" rating to a "hold" rating in a research report on Sunday, May 8th.
Insider Transactions at Virtus Investment Partners
In other news, Director W Howard Morris sold 151 shares of the firm's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $192.09, for a total transaction of $29,005.59. Following the completion of the sale, the director now directly owns 738 shares of the company's stock, valued at approximately $141,762.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company's stock.