Renaissance Technologies LLC Acquires 11,500 Shares of Virtus Investment Partners, Inc. $VRTS

Renaissance Technologies LLC boosted its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 73.1% in the first quarter, Holdings Channel reports. The institutional investor owned 27,229 shares of the closed-end fund’s stock after acquiring an additional 11,500 shares during the period. Renaissance Technologies LLC’s holdings in Virtus Investment Partners were worth $3,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of VRTS. Illinois Municipal Retirement Fund raised its stake in shares of Virtus Investment Partners by 2.3% in 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. increased its stake in shares of Virtus Investment Partners by 24.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund’s stock worth $81,000 after acquiring an additional 97 shares during the period. Swiss National Bank raised its stake in shares of Virtus Investment Partners by 0.8% during the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund’s stock valued at $2,413,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System raised its position in Virtus Investment Partners by 1.9% during the fourth quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund’s stock valued at $881,000 after acquiring an additional 100 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 purchasing an additional 103 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Trading Up 1.0%

Shares of VRTS opened at $165.16 on Friday. Virtus Investment Partners, Inc. has a 52-week low of $121.61 and a 52-week high of $203.61. The stock has a market cap of $1.10 billion, a PE ratio of 9.77 and a beta of 1.37. The firm’s fifty day moving average is $153.65 and its two-hundred day moving average is $145.87. 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 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. The ex-dividend date is Friday, July 31st. This represents a $9.60 dividend on an annualized basis and a yield of 5.8%. Virtus Investment Partners’s payout ratio is presently 54.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRTS. Morgan Stanley reiterated an “underweight” rating and set a $130.00 price target on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. TD Cowen upped their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. Piper Sandler decreased their target price on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. Finally, Barclays dropped their price target on shares of Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Virtus Investment Partners currently has an average rating of “Reduce” and an average price target of $145.50.

Insiders Place Their Bets

In related news, EVP Michael A. Angerthal sold 14,975 shares of the company’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

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.