Virtus Investment Partners (NASDAQ:VRTS) Hits New 12-Month Low – What’s Next?

Virtus Investment Partners, Inc. (NASDAQ:VRTS) shares reached a new 52-week low on Friday. The stock traded as low as $116.71 and last traded at $117.28, with a volume of 68,011 shares trading hands. The stock had previously closed at $124.97.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VRTS shares. TD Cowen dropped their target price on Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Morgan Stanley dropped their price target on shares of Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating for the company in a research note on Friday, September 25th. Piper Sandler cut their price objective on shares of Virtus Investment Partners from $172.00 to $146.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Zacks Research lowered shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. Finally, Barclays reduced their price target on Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $129.75.

Virtus Investment Partners Stock Performance

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 company has a market capitalization of $783.55 million, a P/E ratio of 7.01 and a beta of 1.41. The stock’s fifty day moving average price is $138.62 and its 200-day moving average price is $145.58.

Virtus Investment Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a $2.45 dividend. The ex-dividend date is Friday, October 30th. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 dividend on an annualized basis and a dividend yield of 8.3%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 55.84%.

Insiders Place Their Bets

In other Virtus Investment Partners news, Director W. Morris sold 435 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total transaction of $60,286.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Angerthal sold 14,975 shares of Virtus Investment Partners stock in a transaction that occurred 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 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 ownership of the stock. The SEC filing for this sale provides additional information. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in shares of Virtus Investment Partners by 158.6% during the second quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 111 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Virtus Investment Partners during the 1st quarter worth about $26,000. Caitlin John LLC acquired a new stake in shares of Virtus Investment Partners in the second quarter valued at about $35,000. Signaturefd LLC lifted its stake in shares of Virtus Investment Partners by 150.0% in the third quarter. Signaturefd LLC now owns 260 shares of the closed-end fund’s stock worth $34,000 after acquiring an additional 156 shares during the period. Finally, Assetmark Inc. acquired a new stake in Virtus Investment Partners during the 1st quarter valued at approximately $36,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

About Virtus Investment Partners

Virtus Investment Partners, Inc is an asset management company that provides investment products and services to individual and institutional investors. The company operates as a multi-boutique investment firm, partnering with affiliated and unaffiliated investment managers that offer specialized expertise across a range of asset classes and investment strategies.

Virtus distributes mutual funds, exchange-traded funds, separately managed accounts, closed-end funds and other investment solutions.