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 dated Monday, August 3rd. The shares were sold at an average price of $167.34, for a total value of $2,505,916.50. Following the completion of the transaction, the executive vice president owned 63,461 shares of the company’s stock, valued at $10,619,563.74. The trade was a 19.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Virtus Investment Partners Stock Down 1.5%

VRTS stock opened at $166.78 on Wednesday. The company’s 50 day moving average price is $152.42 and its 200 day moving average price is $145.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $203.61. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 9.87 and a beta of 1.38.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be given a $2.40 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $9.60 dividend on an annualized basis and a dividend yield of 5.8%. Virtus Investment Partners’s dividend payout ratio is currently 54.70%.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 125 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Virtus Investment Partners in the 1st quarter valued at about $2,058,000. Renaissance Technologies LLC boosted its position in shares of Virtus Investment Partners by 73.1% in the 1st quarter. Renaissance Technologies LLC now owns 27,229 shares of the closed-end fund’s stock valued at $3,658,000 after purchasing an additional 11,500 shares during the period. Sei Investments Co. grew its stake in Virtus Investment Partners by 135.4% during the 1st quarter. Sei Investments Co. now owns 30,963 shares of the closed-end fund’s stock worth $4,160,000 after buying an additional 17,811 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Virtus Investment Partners by 38.1% during the first quarter. First Trust Advisors LP now owns 52,930 shares of the closed-end fund’s stock worth $7,111,000 after buying an additional 14,600 shares during the period. 80.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price objective on shares of Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating for the company in a research report on Friday. Piper Sandler cut their price target on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Morgan Stanley reaffirmed an “underweight” rating and set a $130.00 price target on shares of Virtus Investment Partners in a report on Wednesday, July 29th. Finally, TD Cowen upped their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. One investment 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, Virtus Investment Partners has a consensus rating of “Reduce” and a consensus target price of $145.50.

About Virtus Investment Partners

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.