Virtus Investment Partners, Inc. (NASDAQ:VRTS – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $147.72 and traded as high as $148.78. Virtus Investment Partners shares last traded at $143.76, with a volume of 97,947 shares traded.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Morgan Stanley reaffirmed an “underweight” rating and set a $130.00 price target on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. Finally, Barclays lowered 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. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $145.50.
Check Out Our Latest Stock Analysis on Virtus Investment Partners
Virtus Investment Partners Trading Down 2.5%
The business’s 50-day moving average is $163.07 and its 200 day moving average is $147.72. The firm has a market capitalization of $952.12 million, a P/E ratio of 8.51 and a beta of 1.35. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.
Virtus Investment Partners Increases Dividend
The business 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 $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 6.8%. This is a boost 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%.
Insider Activity at Virtus Investment Partners
In other news, EVP Michael Angerthal sold 14,975 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 63,461 shares in the company, valued at approximately $10,619,563.74. The trade was a 19.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.
Institutional Trading of Virtus Investment Partners
Several institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in shares of Virtus Investment Partners in the second quarter worth about $129,000. IFP Advisors Inc raised its stake in shares of Virtus Investment Partners by 158.6% during the second quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock valued at $26,000 after acquiring an additional 111 shares during the last quarter. Allworth Financial LP lifted its holdings in Virtus Investment Partners by 274.6% during the 2nd quarter. Allworth Financial LP now owns 648 shares of the closed-end fund’s stock worth $93,000 after buying an additional 475 shares during the period. Corient Private Wealth LP acquired a new position in shares of Virtus Investment Partners in the second quarter worth approximately $217,000. Finally, California State Teachers Retirement System lifted its position in shares of Virtus Investment Partners by 17,381.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,066,349 shares of the closed-end fund’s stock worth $153,021,000 after purchasing an additional 1,060,249 shares during the period. 80.52% of the stock is currently owned by institutional investors.
About Virtus Investment Partners
Virtus Investment Partners, Inc is an asset management company that operates through a multi-boutique platform of affiliated investment managers. The company provides investment strategies across a range of asset classes, including equities, fixed income, alternatives and multi-asset portfolios.
Its products and services include mutual funds, exchange-traded funds, closed-end funds, variable insurance funds, separately managed accounts and institutional investment strategies. Virtus distributes its offerings through financial advisors, broker-dealers, retirement platforms and other intermediaries, while also serving institutional investors and individual clients.
The company was established as an independent public asset manager in 2008 following its separation from The Phoenix Companies, continuing the investment management business formerly associated with Phoenix Investment Partners.
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