Virtus Investment Partners (NASDAQ:VRTS) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $147.72 and traded as high as $148.78. Virtus Investment Partners shares last traded at $143.76, with a volume of 97,947 shares changing hands.

Analyst Ratings Changes

A number of brokerages have issued reports on VRTS. Barclays cut their target price 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 company a “hold” rating in a research note on Monday, July 20th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $130.00 price objective on shares of Virtus Investment Partners in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $145.50.

Virtus Investment Partners Stock Performance

The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $883.97 million, a price-to-earnings ratio of 7.94 and a beta of 1.35. The stock’s fifty day simple moving average is $162.71 and its 200-day simple moving average is $147.69.

Virtus Investment Partners Increases Dividend

The business 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 dividend of $2.45 per share. This is a positive change 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 7.3%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 55.84%.

Insider Transactions at Virtus Investment Partners

In other Virtus Investment Partners news, EVP Michael Angerthal sold 14,975 shares of the stock in a transaction dated 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 owned 63,461 shares of the company’s stock, valued at $10,619,563.74. This trade represents a 19.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director W. Morris sold 435 shares of Virtus Investment Partners stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $138.59, for a total value of $60,286.65. The disclosure for this sale is available in the SEC filing. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTS. Illinois Municipal Retirement Fund grew its position in shares of Virtus Investment Partners by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 3,446 shares of the closed-end fund’s stock valued at $463,000 after purchasing an additional 77 shares during the last quarter. IFP Advisors Inc grew its stake in Virtus Investment Partners by 158.6% in the 2nd quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock worth $26,000 after acquiring an additional 111 shares during the period. GAMMA Investing LLC grew its stake in Virtus Investment Partners by 86.2% in the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 125 shares during the period. International Assets Investment Management LLC acquired a new position in Virtus Investment Partners in the 1st quarter valued at $26,000. Finally, Caitlin John LLC acquired a new position in Virtus Investment Partners in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 80.52% of the company’s stock.

About Virtus Investment Partners

Virtus Investment Partners, Inc is an asset management company that operates through a multi-boutique platform of affiliated investment managers. The company provides investment strategies across a range of asset classes, including equities, fixed income, alternatives and multi-asset portfolios.

Its products and services include mutual funds, exchange-traded funds, closed-end funds, variable insurance funds, separately managed accounts and institutional investment strategies. Virtus distributes its offerings through financial advisors, broker-dealers, retirement platforms and other intermediaries, while also serving institutional investors and individual clients.

The company was established as an independent public asset manager in 2008 following its separation from The Phoenix Companies, continuing the investment management business formerly associated with Phoenix Investment Partners.