Vanguard Group Inc. Lowers Stake in Virtus Investment Partners, Inc. $VRTS

Vanguard Group Inc. lessened its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS – Free Report) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 837,779 shares of the closed-end fund’s stock after selling 8,736 shares during the period. Vanguard Group Inc. owned about 0.12% of Virtus Investment Partners worth $136,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NBT Bank N A NY boosted its position 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 acquiring an additional 178 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Virtus Investment Partners by 90.4% in the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after acquiring an additional 150 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Virtus Investment Partners in the 2nd quarter valued at $147,000. Oxford Asset Management LLP purchased a new position in shares of Virtus Investment Partners during the 2nd quarter worth $217,000. Finally, WBI Investments LLC acquired a new stake in shares of Virtus Investment Partners during the third quarter worth $280,000. Hedge funds and other institutional investors own 80.52% of the company’s stock.

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Insider Activity

In other news, Director W Howard Morris acquired 2,150 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average price of $129.34 per share, with a total value of $278,081.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at approximately $258,680. The trade was a -1,433.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

VRTS has been the topic of several recent analyst reports. Barclays reduced their target price on Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating on the stock in a research report on Monday, May 4th. Piper Sandler dropped their price objective on shares of Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. TD Cowen decreased their target price on shares of Virtus Investment Partners from $132.00 to $131.00 and set a “hold” rating on the stock in a research report on Monday, May 4th. Zacks Research raised shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Morgan Stanley lowered their price objective on shares of Virtus Investment Partners from $155.00 to $125.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $137.75.

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Virtus Investment Partners Trading Down 0.9%

Shares of VRTS opened at $142.66 on Tuesday. The company has a market capitalization of $953.27 million, a P/E ratio of 8.44 and a beta of 1.41. The stock has a 50-day moving average price of $136.07 and a 200 day moving average price of $151.74. 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, Inc. has a one year low of $121.61 and a one year high of $215.06.

Virtus Investment Partners Dividend Announcement

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

Virtus Investment Partners Company Profile

(Free Report)

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.

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