Empowered Funds LLC Purchases Shares of 16,792 Virtus Investment Partners, Inc. $VRTS

Empowered Funds LLC purchased a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTSFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,792 shares of the closed-end fund’s stock, valued at approximately $2,410,000.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Virtus Investment Partners during the 1st quarter worth approximately $26,000. Caitlin John LLC acquired a new stake in Virtus Investment Partners during the 2nd quarter valued at $35,000. Assetmark Inc. acquired a new stake in Virtus Investment Partners during the 1st quarter valued at $36,000. GAMMA Investing LLC increased its position in Virtus Investment Partners by 86.2% during the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock worth $39,000 after buying an additional 125 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd increased its position in Virtus Investment Partners by 269.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock worth $50,000 after buying an additional 224 shares in the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays reduced their price objective on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. TD Cowen lifted their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $130.00 target price on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. 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 company’s stock. According to data from MarketBeat, Virtus Investment Partners presently has an average rating of “Reduce” and an average price target of $145.50.

Check Out Our Latest Report on VRTS

Insider Buying and Selling at Virtus Investment Partners

In other Virtus Investment Partners news, EVP Michael A. Angerthal sold 14,975 shares of the stock in a transaction on Monday, August 3rd. The stock was 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 of the company’s stock, valued at $10,619,563.74. This represents a 19.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.40% of the stock is currently owned by corporate insiders.

Virtus Investment Partners Stock Performance

Shares of VRTS opened at $156.82 on Thursday. Virtus Investment Partners, Inc. has a 1 year low of $121.61 and a 1 year high of $203.61. The company’s 50 day simple moving average is $161.93 and its 200 day simple moving average is $147.03. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 9.28 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be issued a $2.45 dividend. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $2.40. The ex-dividend date is Friday, October 30th. This represents a $9.80 annualized dividend and a yield of 6.2%. Virtus Investment Partners’s payout ratio is presently 55.84%.

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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Institutional Ownership by Quarter for Virtus Investment Partners (NASDAQ:VRTS)

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