Zacks Investment Management Makes New $3.12 Million Investment in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Zacks Investment Management purchased a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,165 shares of the closed-end fund's stock, valued at approximately $3,124,000. Zacks Investment Management owned 0.20% of Virtus Investment Partners as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock valued at $44,000 after purchasing an additional 126 shares during the last quarter. R Squared Ltd acquired a new position in Virtus Investment Partners during the 4th quarter worth $75,000. KBC Group NV increased its position in shares of Virtus Investment Partners by 61.2% in the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund's stock worth $87,000 after purchasing an additional 150 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Virtus Investment Partners in the 4th quarter valued at about $203,000. Finally, Trexquant Investment LP acquired a new position in Virtus Investment Partners in the fourth quarter worth about $209,000. Institutional investors and hedge funds own 80.52% of the company's stock.

Wall Street Analyst Weigh In

VRTS has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a report on Thursday. TD Cowen lowered their target price on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley reduced their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. Barclays lowered their price objective on shares of Virtus Investment Partners from $200.00 to $149.00 and set an "underweight" rating for the company in a research report on Wednesday. Finally, StockNews.com raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Virtus Investment Partners has a consensus rating of "Hold" and a consensus target price of $179.00.

Virtus Investment Partners Stock Performance

NASDAQ VRTS traded up $0.98 on Friday, hitting $149.03. The stock had a trading volume of 32,626 shares, compared to its average volume of 40,281. 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 is $171.37 and its two-hundred day moving average is $204.20. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 8.82 and a beta of 1.36. Virtus Investment Partners, Inc. has a one year low of $144.13 and a one year high of $252.82.

Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio (DPR) is 53.25%.

About Virtus Investment Partners

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.