Virtus Investment Partners, Inc. (NASDAQ:VRTS) EVP Sells $1,845,324.00 in Stock

Virtus Investment Partners, Inc. (NASDAQ:VRTS) EVP Barry M. Mandinach sold 7,886 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $234.00, for a total transaction of $1,845,324.00. Following the transaction, the executive vice president now owns 12,418 shares in the company, valued at approximately $2,905,812. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Virtus Investment Partners Price Performance

Shares of Virtus Investment Partners stock opened at $229.67 on Friday. Virtus Investment Partners, Inc. has a fifty-two week low of $168.78 and a fifty-two week high of $263.39. The firm has a fifty day moving average price of $233.12 and a two-hundred day moving average price of $227.91. The company has a market cap of $1.64 billion, a PE ratio of 13.84 and a beta of 1.50.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $5.41. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.61%. The firm had revenue of $200.24 million during the quarter, compared to the consensus estimate of $203.54 million. Analysts expect that Virtus Investment Partners, Inc. will post 26.43 earnings per share for the current fiscal year.

Virtus Investment Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, July 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.78%.

Analysts Set New Price Targets

A number of research firms recently issued reports on VRTS. Piper Sandler lowered their target price on shares of Virtus Investment Partners from $275.00 to $265.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. TD Cowen raised their target price on shares of Virtus Investment Partners from $245.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Morgan Stanley raised their target price on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Finally, StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th.

Hedge Funds Weigh In On Virtus Investment Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC lifted its holdings in shares of Virtus Investment Partners by 44.9% during the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock worth $35,000 after acquiring an additional 53 shares during the period. Blue Trust Inc. lifted its holdings in shares of Virtus Investment Partners by 550.0% during the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after acquiring an additional 154 shares during the period. Bessemer Group Inc. bought a new position in shares of Virtus Investment Partners during the 1st quarter worth about $57,000. EntryPoint Capital LLC lifted its holdings in shares of Virtus Investment Partners by 625.6% during the 1st quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after acquiring an additional 269 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of Virtus Investment Partners during the 1st quarter worth about $220,000. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.