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

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have been assigned an average recommendation of “Reduce” from the five research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $137.75.

Several analysts have issued reports on VRTS shares. Morgan Stanley decreased their price objective on shares of Virtus Investment Partners from $155.00 to $125.00 and set an “underweight” rating for the company in a research note on Wednesday, April 1st. Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. TD Cowen decreased their price objective on shares of Virtus Investment Partners from $132.00 to $131.00 and set a “hold” rating for the company in a research note on Monday, May 4th. Finally, Barclays decreased their price objective on shares of Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating for the company in a research note on Monday, May 4th.

Insider Transactions at Virtus Investment Partners

In other news, Director W Howard Morris acquired 2,150 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was acquired at an average price of $129.34 per share, with a total value of $278,081.00. Following the completion of the purchase, the director directly owned 2,000 shares in the company, valued at approximately $258,680. This trade represents a -1,433.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is currently owned by insiders.

Institutional Trading of Virtus Investment Partners

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Virtus Investment Partners by 0.5% in the fourth quarter. State Street Corp now owns 306,375 shares of the closed-end fund’s stock worth $49,985,000 after purchasing an additional 1,586 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Virtus Investment Partners by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 305,115 shares of the closed-end fund’s stock worth $40,990,000 after purchasing an additional 7,987 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Virtus Investment Partners by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,098 shares of the closed-end fund’s stock worth $48,961,000 after purchasing an additional 2,917 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Virtus Investment Partners by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 245,344 shares of the closed-end fund’s stock worth $40,028,000 after purchasing an additional 15,987 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Virtus Investment Partners by 23.8% in the third quarter. American Century Companies Inc. now owns 155,881 shares of the closed-end fund’s stock worth $29,622,000 after purchasing an additional 29,919 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Up 1.5%

Shares of NASDAQ:VRTS opened at $140.06 on Tuesday. 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 has a 12 month low of $121.61 and a 12 month high of $215.06. The company has a 50-day moving average price of $136.15 and a 200 day moving average price of $150.63. The company has a market cap of $935.88 million, a price-to-earnings ratio of 8.29 and a beta of 1.41.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th were paid a $2.40 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $9.60 annualized dividend and a yield of 6.9%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 56.50%.

About Virtus Investment Partners

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.