Virtus Investment Partners, Inc. (NASDAQ:VRTS) Given Consensus Rating of “Reduce” by Brokerages

Virtus Investment Partners, Inc. (NASDAQ:VRTS) has been assigned an average rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $137.75.

A number of research analysts recently issued reports on the company. Barclays decreased their target price on Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating for the company in a report on Monday, May 4th. Zacks Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. TD Cowen decreased their target price on Virtus Investment Partners from $132.00 to $131.00 and set a “hold” rating for the company in a report on Monday, May 4th. Piper Sandler decreased their target price on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Finally, Morgan Stanley decreased their target price on Virtus Investment Partners from $155.00 to $125.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st.

Virtus Investment Partners Trading Down 0.9%

NASDAQ:VRTS opened at $142.66 on Tuesday. The firm has a market cap of $953.27 million, a PE ratio of 8.44 and a beta of 1.41. The stock has a fifty day moving average price of $136.07 and a 200 day moving average price of $151.74. Virtus Investment Partners has a 12-month low of $121.61 and a 12-month high of $215.06. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be issued a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners’s payout ratio is 56.50%.

Insider Transactions at Virtus Investment Partners

In other Virtus Investment Partners news, Director W Howard Morris purchased 2,150 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $129.34 per share, with a total value of $278,081.00. Following the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at approximately $258,680. This represents a -1,433.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.40% of the stock is owned by company insiders.

Institutional Trading of Virtus Investment Partners

A number of institutional investors have recently bought and sold shares of VRTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 worth $681,000 after buying an additional 103 shares during the last quarter. Millennium Management LLC lifted its holdings in Virtus Investment Partners by 10.8% during the 1st quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund’s stock worth $10,133,000 after buying an additional 5,734 shares during the last quarter. Jane Street Group LLC lifted its holdings in Virtus Investment Partners by 57.4% during the 1st quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund’s stock worth $2,679,000 after buying an additional 5,671 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Virtus Investment Partners by 20.8% during the 1st quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund’s stock worth $1,135,000 after buying an additional 1,134 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Virtus Investment Partners by 26.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,776 shares of the closed-end fund’s stock worth $2,136,000 after buying an additional 2,429 shares during the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

Virtus Investment Partners Company 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.