Royal Bank of Canada Sells 85,932 Shares of Virtus Investment Partners, Inc. $VRTS

Royal Bank of Canada reduced its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 97.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,292 shares of the closed-end fund’s stock after selling 85,932 shares during the quarter. Royal Bank of Canada’s holdings in Virtus Investment Partners were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC bought a new position in shares of Virtus Investment Partners during the 1st quarter worth $2,058,000. Renaissance Technologies LLC raised its holdings in shares of Virtus Investment Partners by 73.1% in the first quarter. Renaissance Technologies LLC now owns 27,229 shares of the closed-end fund’s stock valued at $3,658,000 after acquiring an additional 11,500 shares in the last quarter. Sei Investments Co. lifted its stake in Virtus Investment Partners by 135.4% in the first quarter. Sei Investments Co. now owns 30,963 shares of the closed-end fund’s stock worth $4,160,000 after acquiring an additional 17,811 shares during the period. First Trust Advisors LP lifted its stake in Virtus Investment Partners by 38.1% in the first quarter. First Trust Advisors LP now owns 52,930 shares of the closed-end fund’s stock worth $7,111,000 after acquiring an additional 14,600 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Virtus Investment Partners by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 305,115 shares of the closed-end fund’s stock worth $40,990,000 after acquiring an additional 7,987 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Insider Transactions at Virtus Investment Partners

In related news, EVP Michael A. Angerthal sold 14,975 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 63,461 shares of the company’s stock, valued at $10,619,563.74. This represents a 19.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 6.40% of the stock is owned by corporate insiders.

Virtus Investment Partners Price Performance

NASDAQ VRTS opened at $167.46 on Friday. The firm’s fifty day simple moving average is $160.18 and its two-hundred day simple moving average is $146.35. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. Virtus Investment Partners, Inc. has a 12-month low of $121.61 and a 12-month high of $203.61. The firm has a market capitalization of $1.11 billion, a P/E ratio of 9.91 and a beta of 1.37.

Virtus Investment Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $2.45 per share. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. The ex-dividend date is Friday, October 30th. This represents a $9.80 annualized dividend and a yield of 5.9%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 55.84%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VRTS. Piper Sandler reduced 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 dropped 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 note on Friday, July 31st. TD Cowen boosted their price objective 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. Finally, Morgan Stanley restated an “underweight” rating and set a $130.00 target price on shares of Virtus Investment Partners in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $145.50.

Virtus Investment Partners 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.