W Howard Morris Sells 435 Shares of Virtus Investment Partners (NASDAQ:VRTS) Stock

Virtus Investment Partners, Inc. (NASDAQ:VRTS) Director W. Morris sold 435 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total value of $60,286.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS opened at $130.26 on Thursday. Virtus Investment Partners, Inc. has a 1 year low of $121.61 and a 1 year high of $196.24. The firm has a market cap of $862.71 million, a P/E ratio of 7.71 and a beta of 1.35. The stock has a fifty day moving average price of $162.22 and a two-hundred day moving average price of $147.59. 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 company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $2.45 per share. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is 55.84%.

Wall Street Analyst Weigh In

Several brokerages have commented on VRTS. TD Cowen boosted their price target on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. Morgan Stanley reaffirmed an “underweight” rating and issued a $130.00 price objective on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. Finally, Barclays lowered their price objective on shares of Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. One 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 MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Reduce” and a consensus target price of $145.50.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently modified their holdings of VRTS. BlackRock Inc. acquired a new position in Virtus Investment Partners in the 2nd quarter worth approximately $151,624,000. Bank of New York Mellon Corp acquired a new stake in Virtus Investment Partners during the 2nd quarter valued at $10,148,000. Bank of America Corp DE purchased a new stake in shares of Virtus Investment Partners in the second quarter valued at $4,867,000. AWH Capital L.P. purchased a new stake in shares of Virtus Investment Partners in the second quarter valued at $3,550,477. Finally, Ieq Capital LLC acquired a new stake in shares of Virtus Investment Partners in the second quarter worth $3,255,000. 80.52% of the stock is owned by institutional investors and hedge funds.

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.