Michael Angerthal Sells 14,975 Shares of Virtus Investment Partners (NASDAQ:VRTS) Stock

Virtus Investment Partners, Inc. (NASDAQ:VRTS) EVP Michael Angerthal sold 14,975 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $167.34, for a total value of $2,505,916.50. Following the sale, the executive vice president directly owned 63,461 shares of the company’s stock, valued at approximately $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Virtus Investment Partners Stock Performance

Shares of VRTS stock opened at $162.01 on Thursday. 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 52 week low of $121.61 and a 52 week high of $203.61. The company’s 50 day moving average price is $152.77 and its two-hundred day moving average price is $145.77. The company has a market capitalization of $1.08 billion, a P/E ratio of 9.59 and a beta of 1.38.

Virtus Investment Partners Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on VRTS. Piper Sandler lowered their target price 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. Barclays cut their price target on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. TD Cowen increased their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a 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 report on Wednesday, July 29th. One investment 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’s stock. According to MarketBeat, Virtus Investment Partners currently has a consensus rating of “Reduce” and a consensus price target of $145.50.

Institutional Investors Weigh In On Virtus Investment Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTS. Two Sigma Investments LP boosted its position in Virtus Investment Partners by 574.8% during the third quarter. Two Sigma Investments LP now owns 46,059 shares of the closed-end fund’s stock valued at $8,753,000 after purchasing an additional 39,233 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Virtus Investment Partners by 101.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 77,937 shares of the closed-end fund’s stock valued at $12,715,000 after buying an additional 39,188 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Virtus Investment Partners by 220.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 37,737 shares of the closed-end fund’s stock valued at $7,171,000 after buying an additional 25,961 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Virtus Investment Partners during the fourth quarter worth $4,146,000. Finally, Zimmer Partners LP acquired a new stake in Virtus Investment Partners in the fourth quarter valued at $4,079,000. 80.52% of the stock is owned by institutional investors.

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.