Virtus Investment Partners (NASDAQ:VRTS) Reaches New 12-Month Low on Analyst Downgrade

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s stock price reached a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $155.00 to $125.00. Morgan Stanley currently has an underweight rating on the stock. Virtus Investment Partners traded as low as $123.35 and last traded at $124.1540, with a volume of 19706 shares trading hands. The stock had previously closed at $131.12.

A number of other analysts also recently issued reports on VRTS. Piper Sandler lowered their price target on Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Zacks Research raised shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Barclays reissued an “underweight” rating and issued a $142.00 price objective on shares of Virtus Investment Partners in a research report on Monday, February 9th. Finally, TD Cowen cut their target price on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating on the stock in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $161.50.

Insiders Place Their Bets

In related news, Director W Howard Morris acquired 2,150 shares of the 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 transaction, the director directly owned 2,000 shares in the company, valued at approximately $258,680. This represents a -1,433.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.10% of the stock is owned by insiders.

Institutional Trading of Virtus Investment Partners

Several institutional investors and hedge funds have recently modified their holdings of the stock. NBT Bank N A NY lifted its holdings in Virtus Investment Partners by 1,483.3% during the third quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund’s stock worth $36,000 after buying an additional 178 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of 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 during the period. Osaic Holdings Inc. raised its position in shares of Virtus Investment Partners by 90.4% in the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock worth $57,000 after acquiring an additional 150 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Virtus Investment Partners by 24.1% in the 4th 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 in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Virtus Investment Partners by 117.0% during the 4th quarter. Advisors Asset Management Inc. now owns 588 shares of the closed-end fund’s stock worth $96,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Down 6.4%

The business has a 50 day moving average of $141.47 and a two-hundred day moving average of $161.09. The stock has a market capitalization of $821.56 million, a PE ratio of 7.26 and a beta of 1.47. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be given a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners’s dividend payout ratio is presently 48.02%.

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.