Connor Clark & Lunn Investment Management Ltd. Makes New $2.38 Million Investment in Virtus Investment Partners, Inc. $VRTS

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,571 shares of the closed-end fund’s stock, valued at approximately $2,378,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of Virtus Investment Partners as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in Virtus Investment Partners during the 1st quarter worth about $26,000. Assetmark Inc. bought a new stake in Virtus Investment Partners during the 1st quarter worth about $36,000. GAMMA Investing LLC increased its position in Virtus Investment Partners by 86.2% in the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 125 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Virtus Investment Partners by 269.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock valued at $50,000 after acquiring an additional 224 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of Virtus Investment Partners by 90.4% in the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock worth $57,000 after acquiring an additional 150 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VRTS shares. Piper Sandler reduced their target price on shares of 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. Barclays dropped 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, July 31st. Morgan Stanley reaffirmed an “underweight” rating and set a $130.00 price objective on shares of Virtus Investment Partners in a report on Wednesday, July 29th. Finally, TD Cowen increased their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a research report on Monday, July 20th. One equities 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 data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $145.50.

Insider Buying and Selling at Virtus Investment Partners

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

Virtus Investment Partners Stock Performance

Shares of NASDAQ:VRTS opened at $168.12 on Friday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 9.95 and a beta of 1.37. Virtus Investment Partners, Inc. has a 1-year low of $121.61 and a 1-year high of $203.61. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $160.70 and a two-hundred day moving average price of $146.51.

Virtus Investment Partners Increases Dividend

The firm also recently declared 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 represents a $9.80 dividend on an annualized basis and a dividend yield of 5.8%. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. The ex-dividend date of this dividend is Friday, October 30th. Virtus Investment Partners’s payout ratio is presently 55.84%.

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.