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

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

Virtus Investment Partners Trading Down 4.3%

Shares of VRTS traded down $6.14 on Tuesday, reaching $137.38. 127,297 shares of the company’s stock were exchanged, compared to its average volume of 112,780. The business has a 50 day moving average price of $163.07 and a two-hundred day moving average price of $147.72. Virtus Investment Partners, Inc. has a 12 month low of $121.61 and a 12 month high of $196.24. The stock has a market capitalization of $909.83 million, a P/E ratio of 8.13 and a beta of 1.35. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

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 given a $2.45 dividend. The ex-dividend date is Friday, October 30th. This represents a $9.80 annualized dividend and a dividend yield of 7.1%. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $2.40. Virtus Investment Partners’s dividend payout ratio is 55.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on VRTS shares. TD Cowen lifted their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. 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 note on Friday, July 31st. Finally, Morgan Stanley restated an “underweight” rating and set a $130.00 target price on shares of Virtus Investment Partners in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $145.50.

Hedge Funds Weigh In On Virtus Investment Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of Virtus Investment Partners by 158.6% in the 2nd quarter. IFP Advisors Inc now owns 181 shares of the closed-end fund’s stock valued at $26,000 after buying an additional 111 shares during the period. International Assets Investment Management LLC acquired a new stake in Virtus Investment Partners during the 1st quarter worth $26,000. Caitlin John LLC acquired a new stake in Virtus Investment Partners during the 2nd quarter worth $35,000. Assetmark Inc. bought a new position in Virtus Investment Partners during the first quarter worth about $36,000. Finally, GAMMA Investing LLC lifted its holdings in Virtus Investment Partners by 86.2% during the second quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock worth $39,000 after acquiring an additional 125 shares in the last quarter. 80.52% of the stock is owned by institutional investors.

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.