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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Virtus Investment Partners Stock Down 4.3%

Shares of VRTS traded down $6.14 on Tuesday, hitting $137.38. The company’s stock had a trading volume of 127,297 shares, compared to its average volume of 112,780. The firm’s fifty day moving average price is $163.07 and its 200-day moving average price is $147.72. Virtus Investment Partners, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $196.24. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $909.83 million, a price-to-earnings ratio of 8.13 and a beta of 1.35.

Virtus Investment Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be issued a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 7.1%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $2.40. The ex-dividend date is Friday, October 30th. Virtus Investment Partners’s dividend payout ratio is currently 55.84%.

Analyst Upgrades and Downgrades

VRTS has been the subject of several research reports. Barclays lowered their price objective on shares of Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. TD Cowen boosted their price objective on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Finally, Morgan Stanley reaffirmed 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 investment 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. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $145.50.

Institutional Investors Weigh In On Virtus Investment Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Virtus Investment Partners during the 1st quarter worth approximately $26,000. IFP Advisors Inc grew its stake in shares of Virtus Investment Partners by 158.6% during 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 in the last quarter. Caitlin John LLC acquired a new stake in shares of Virtus Investment Partners in the second quarter valued at approximately $35,000. Assetmark Inc. acquired a new stake in shares of Virtus Investment Partners in the first quarter valued at approximately $36,000. Finally, GAMMA Investing LLC lifted its position in shares of Virtus Investment Partners by 86.2% in the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock worth $39,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Virtus Investment Partners Company Profile

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.