Virtus Investment Partners, Inc. (NASDAQ:VRTS) Announces $2.40 Quarterly Dividend

Virtus Investment Partners, Inc. (NASDAQ:VRTS) declared a quarterly dividend on Thursday, February 26th. Shareholders of record on Thursday, April 30th will be given a dividend of 2.40 per share by the closed-end fund on Wednesday, May 13th. This represents a c) annualized dividend and a yield of 6.7%. The ex-dividend date is Thursday, April 30th.

Virtus Investment Partners has raised its dividend by an average of 0.3%per year over the last three years.

Virtus Investment Partners Stock Performance

Shares of NASDAQ:VRTS traded up $1.50 during trading hours on Thursday, hitting $143.95. The stock had a trading volume of 66,970 shares, compared to its average volume of 94,977. The stock’s fifty day simple moving average is $158.17 and its 200 day simple moving average is $172.03. The firm has a market capitalization of $972.22 million, a price-to-earnings ratio of 8.52 and a beta of 1.47. 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 has a 1-year low of $134.81 and a 1-year high of $215.06.

Analyst Upgrades and Downgrades

VRTS has been the topic of several analyst reports. TD Cowen lowered their target price on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating on the stock in a research report on Wednesday, January 14th. Morgan Stanley decreased their price target on Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating for the company in a research note on Tuesday, February 3rd. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. Finally, Barclays reiterated an “underweight” rating and issued a $142.00 target price on shares of Virtus Investment Partners in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Virtus Investment Partners currently has an average rating of “Reduce” and a consensus price target of $169.00.

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.