Legal & General Group Plc Takes $1.97 Million Position in Virtus Investment Partners, Inc. $VRTS

Legal & General Group Plc purchased a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,684 shares of the closed-end fund’s stock, valued at approximately $1,965,000. Legal & General Group Plc owned 0.21% of Virtus Investment Partners as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Virtus Investment Partners in the 1st quarter worth approximately $26,000. Assetmark Inc. bought a new position in shares of Virtus Investment Partners during the 1st quarter valued at $36,000. GAMMA Investing LLC lifted its holdings in shares of Virtus Investment Partners by 86.2% during the 2nd quarter. GAMMA Investing LLC now owns 270 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 125 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in shares of Virtus Investment Partners by 269.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock worth $50,000 after buying an additional 224 shares during the last quarter. Finally, Osaic Holdings Inc. grew its holdings in shares of Virtus Investment Partners by 90.4% in the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock worth $57,000 after acquiring an additional 150 shares during the period. 80.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Virtus Investment Partners

In related news, EVP Michael Angerthal sold 14,975 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $167.34, for a total value of $2,505,916.50. Following the transaction, the executive vice president owned 63,461 shares of the company’s stock, valued at $10,619,563.74. This trade represents a 19.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley reissued an “underweight” rating and issued a $130.00 target price on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. TD Cowen raised their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Finally, Barclays decreased their price target on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Virtus Investment Partners presently has an average rating of “Reduce” and a consensus target price of $145.50.

Virtus Investment Partners Trading Down 0.2%

Shares of VRTS opened at $159.18 on Monday. 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, Inc. has a twelve month low of $121.61 and a twelve month high of $203.61. The company has a market cap of $1.05 billion, a P/E ratio of 9.42 and a beta of 1.35. The company’s fifty day simple moving average is $162.63 and its 200-day simple moving average is $147.31.

Virtus Investment Partners Increases Dividend

The firm 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. The ex-dividend date is Friday, October 30th. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 annualized dividend and a dividend yield of 6.2%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 55.84%.

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.