News Spotlight: Virtus Investment Partners (NASDAQ:VRTS)

Sarah Gleason

Virtus Investment Partners (NASDAQ:VRTS) stock observed trading -17.69% off 52-week high price. On the other end, the stock has been noted 57.86% away from low price over the last 52-weeks. The stock disclosed a move of 3.05% away from 50 day moving average and 8.91% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.13% off 20-day moving average. It has market cap of $775.16M and dividend yield of 1.99%.

On Aug.15, 2019, Virtus Investment Partners (NASDAQ:VRTS) which operates a multi-boutique asset management business, reported that its Board of Directors has declared a quarterly cash dividend on its common stock of $0.67 per share, a 22 percent increase from the previous quarterly dividend of $0.55per share. This is the second consecutive year the company has increased its common stock dividend since a quarterly dividend was initiated in May 2014.

We are pleased to provide shareholders with this increase in our common stock dividend, said George R. Aylward, president and chief executive officer. Our strong free cash flow and balance sheet flexibility support a balanced approach to capital management across our priorities, which include investing in the business, returning capital to shareholders, and consistently reducing our debt outstanding.

The common stock dividend will be paid on November 15, 2019 to shareholders of record at the close of business on October 31, 2019.

The board also declared a quarterly cash dividend of $1.8125 per share on the company’s 7.25% Series D Mandatory Convertible Preferred Stock (NASDAQ: VRTSP). The dividend will be paid on November 1, 2019 to shareholders of record at the close of business on October 15, 2019.

Future declarations of dividends will be subject to the approval of the Board of Directors.

 The USA based company Virtus Investment Partners moved with change of -2.30% to $110.5 with the total traded volume of 129475 shares in recent session versus to an average volume of 71.52K. The stock was observed in the 5 days activity at 5.92%. The one month performance of stock was 4.64%. VRTS’s shares are at -11.21% for the quarter and driving a -14.77% return over the course of the past year and is now at 39.12% since this point in 2018.  Right now the stock beta is 1.62. The average volatility for the week and month was at 4.01% and 3.08% respectively. There are 7.02M shares outstanding and 6.61M shares are floated in market.

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