Insider Selling: Virtus Investment Partners (NASDAQ:VRTS) EVP Sells $2,505,916.50 in Stock

Virtus Investment Partners, Inc. (NASDAQ:VRTSGet Free Report) EVP Michael 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 transaction of $2,505,916.50. Following the transaction, the executive vice president owned 63,461 shares in the company, valued at $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Virtus Investment Partners Trading Up 1.3%

VRTS stock opened at $163.90 on Friday. The company has a market capitalization of $1.10 billion, a PE ratio of 9.70 and a beta of 1.37. 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 $203.61. The company’s 50 day moving average price is $153.21 and its two-hundred day moving average price is $145.73.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $2.40 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $9.60 annualized dividend and a yield of 5.9%. Virtus Investment Partners’s payout ratio is currently 54.70%.

Wall Street Analyst Weigh In

VRTS has been the topic of a number of recent research reports. TD Cowen raised their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Barclays lowered their target price on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating for the company in a research note on Friday, July 31st. Morgan Stanley restated an “underweight” rating and set a $130.00 target price on shares of Virtus Investment Partners in a report on Wednesday, July 29th. Finally, Piper Sandler reduced their price target on 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. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Virtus Investment Partners presently has an average rating of “Reduce” and a consensus price target of $145.50.

View Our Latest Analysis on VRTS

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in shares of Virtus Investment Partners in the first quarter worth $26,000. Assetmark Inc. bought a new stake in shares of Virtus Investment Partners in the 1st quarter worth $36,000. GAMMA Investing LLC raised its stake in shares of Virtus Investment Partners by 86.2% in the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 125 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Virtus Investment Partners by 269.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock worth $50,000 after purchasing an additional 224 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of Virtus Investment Partners by 90.4% during the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after purchasing an additional 150 shares in the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

About Virtus Investment Partners

(Get 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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