Virtus Investment Partners, Inc. (NASDAQ:VRTS) Receives $137.75 Average PT from Brokerages

Virtus Investment Partners, Inc. (NASDAQ:VRTS) has earned a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $137.75.

A number of equities analysts recently issued reports on VRTS shares. Morgan Stanley lowered their price target on Virtus Investment Partners from $155.00 to $125.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Barclays lowered their price target on Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating for the company in a report on Monday, May 4th. TD Cowen lowered their price target on Virtus Investment Partners from $132.00 to $131.00 and set a “hold” rating for the company in a report on Monday, May 4th. Finally, Piper Sandler lowered their price target on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, May 4th.

Virtus Investment Partners Stock Down 3.0%

Shares of NASDAQ:VRTS opened at $137.90 on Tuesday. Virtus Investment Partners has a 1 year low of $121.61 and a 1 year high of $215.06. The firm has a market capitalization of $921.42 million, a PE ratio of 8.16 and a beta of 1.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The firm’s 50-day moving average is $136.11 and its two-hundred day moving average is $150.97.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid a $2.40 dividend. The ex-dividend date was Thursday, April 30th. This represents a $9.60 dividend on an annualized basis and a yield of 7.0%. Virtus Investment Partners’s payout ratio is currently 56.50%.

Insiders Place Their Bets

In other news, Director W Howard Morris acquired 2,150 shares of Virtus Investment Partners stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $129.34 per share, for a total transaction of $278,081.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at $258,680. This represents a -1,433.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Virtus Investment Partners by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock worth $681,000 after purchasing an additional 103 shares during the last quarter. Millennium Management LLC raised its stake in shares of Virtus Investment Partners by 10.8% during the first quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund’s stock worth $10,133,000 after purchasing an additional 5,734 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Virtus Investment Partners by 57.4% during the first quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund’s stock worth $2,679,000 after purchasing an additional 5,671 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Virtus Investment Partners by 20.8% during the first quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund’s stock worth $1,135,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Virtus Investment Partners by 26.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 11,776 shares of the closed-end fund’s stock worth $2,136,000 after purchasing an additional 2,429 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Company Profile

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.