Ieq Capital LLC Takes Position in Virtus Investment Partners, Inc. $VRTS

Ieq Capital LLC acquired a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 22,680 shares of the closed-end fund’s stock, valued at approximately $3,255,000.

Several other hedge funds have also modified their holdings of the stock. Illinois Municipal Retirement Fund increased its position in Virtus Investment Partners by 2.3% during the first quarter. Illinois Municipal Retirement Fund now owns 3,446 shares of the closed-end fund’s stock worth $463,000 after purchasing an additional 77 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Virtus Investment Partners by 24.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 97 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Virtus Investment Partners by 1.9% in the 4th quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund’s stock valued at $881,000 after purchasing an additional 100 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Virtus Investment Partners by 0.8% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund’s stock valued at $2,413,000 after purchasing an additional 100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Virtus Investment Partners by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock valued at $681,000 after buying an additional 103 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

VRTS has been the subject of a number of research analyst reports. Morgan Stanley restated an “underweight” rating and set a $130.00 price objective on shares of Virtus Investment Partners in a report on Wednesday, July 29th. TD Cowen lifted their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a report on Monday, July 20th. Piper Sandler lowered their price target on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, Barclays lowered their price target on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $145.50.

Virtus Investment Partners Trading Up 0.9%

Shares of VRTS stock opened at $168.52 on Tuesday. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 9.97 and a beta of 1.37. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. Virtus Investment Partners, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $203.61. The firm’s 50 day moving average price is $158.73 and its two-hundred day moving average price is $145.94.

Virtus Investment Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $2.45 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 5.8%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $2.40. Virtus Investment Partners’s payout ratio is 55.84%.

Insider Buying and Selling at Virtus Investment Partners

In related news, EVP Michael A. Angerthal sold 14,975 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the completion of the sale, the executive vice president directly owned 63,461 shares of the company’s stock, valued at approximately $10,619,563.74. This represents a 19.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.40% 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.