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

Virtus Investment Partners, Inc. (NASDAQ:VRTS) EVP Michael Angerthal sold 14,975 shares of Virtus Investment Partners stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the completion of the transaction, the executive vice president directly owned 63,461 shares in the company, valued at approximately $10,619,563.74. This trade represents a 19.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Virtus Investment Partners Trading Down 1.5%

Shares of VRTS stock traded down $2.58 during trading hours on Tuesday, reaching $166.78. 285,804 shares of the stock traded hands, 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 capitalization of $1.11 billion, a PE ratio of 9.87 and a beta of 1.38. Virtus Investment Partners, Inc. has a 1-year low of $121.61 and a 1-year high of $203.61. The business has a fifty day moving average price of $151.97 and a 200 day moving average price of $145.85.

Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. Virtus Investment Partners’s payout ratio is presently 54.70%.

Wall Street Analyst Weigh In

VRTS has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “underweight” rating and set a $130.00 target price on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. Piper Sandler decreased their price target on shares of Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Barclays lowered their price objective on shares of Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, TD Cowen upped their price target on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. 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. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $145.50.

Hedge Funds Weigh In On Virtus Investment Partners

Hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in shares of Virtus Investment Partners during the 1st quarter worth $26,000. Assetmark Inc. bought a new stake in Virtus Investment Partners in the first quarter worth $36,000. GAMMA Investing LLC increased its position in Virtus Investment Partners by 86.2% during the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock worth $39,000 after buying an additional 125 shares during the last quarter. Aster Capital Management DIFC Ltd raised its holdings in Virtus Investment Partners by 269.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock valued at $50,000 after buying an additional 224 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Virtus Investment Partners by 90.4% during the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after buying an additional 150 shares in the last quarter. 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.