Virtus Investment Partners, Inc. (NASDAQ:VRTS) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have been given a consensus recommendation of “Reduce” by the five ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $169.00.

A number of research firms recently commented on VRTS. Barclays restated an “underweight” rating and set a $142.00 price target on shares of Virtus Investment Partners in a research report on Monday, February 9th. TD Cowen cut their price objective on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating for the company in a research report on Wednesday, January 14th. Piper Sandler reduced their price objective on Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Zacks Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Finally, Morgan Stanley lowered their target price 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.

Virtus Investment Partners Price Performance

NASDAQ:VRTS opened at $126.70 on Monday. The firm has a market cap of $848.22 million, a PE ratio of 7.50 and a beta of 1.47. Virtus Investment Partners has a 12 month low of $124.70 and a 12 month high of $215.06. 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 company’s 50-day moving average price is $147.54 and its two-hundred day moving average price is $164.52.

Virtus Investment Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be issued a dividend of $2.40 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $9.60 dividend on an annualized basis and a yield of 7.6%. Virtus Investment Partners’s dividend payout ratio is currently 48.02%.

Insiders Place Their Bets

In related news, Director W Howard Morris bought 2,150 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $129.34 per share, with a total value of $278,081.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at approximately $258,680. The trade was a -1,433.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.20% of the company’s stock.

Institutional Trading of Virtus Investment Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in Virtus Investment Partners by 109.4% in the 3rd quarter. Victory Capital Management Inc. now owns 229,357 shares of the closed-end fund’s stock worth $43,585,000 after purchasing an additional 119,802 shares during the last quarter. Norges Bank acquired a new stake in shares of Virtus Investment Partners in the 2nd quarter valued at $7,177,000. Two Sigma Investments LP increased its stake in shares of Virtus Investment Partners by 574.8% in the 3rd quarter. Two Sigma Investments LP now owns 46,059 shares of the closed-end fund’s stock valued at $8,753,000 after buying an additional 39,233 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Virtus Investment Partners by 101.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 77,937 shares of the closed-end fund’s stock worth $12,715,000 after acquiring an additional 39,188 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Virtus Investment Partners by 23.8% during the third quarter. American Century Companies Inc. now owns 155,881 shares of the closed-end fund’s stock worth $29,622,000 after acquiring an additional 29,919 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

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.