Bank of New York Mellon Corp Sells 3,185 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Bank of New York Mellon Corp lessened its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,501 shares of the closed-end fund's stock after selling 3,185 shares during the quarter. Bank of New York Mellon Corp owned 1.26% of Virtus Investment Partners worth $19,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in Virtus Investment Partners by 8.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,300 shares of the closed-end fund's stock worth $287,000 after purchasing an additional 100 shares during the period. Quarry LP raised its holdings in Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund's stock valued at $27,000 after buying an additional 101 shares during the last quarter. QRG Capital Management Inc. boosted its position in Virtus Investment Partners by 11.9% during the 3rd quarter. QRG Capital Management Inc. now owns 1,174 shares of the closed-end fund's stock valued at $246,000 after buying an additional 125 shares during the period. KBC Group NV grew its holdings in 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 acquiring an additional 150 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Virtus Investment Partners by 21.5% in the 3rd quarter. HighTower Advisors LLC now owns 1,157 shares of the closed-end fund's stock worth $242,000 after acquiring an additional 205 shares during the last quarter. 80.52% of the stock is owned by institutional investors.

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Virtus Investment Partners Stock Down 1.1 %

Shares of NASDAQ VRTS traded down $1.91 during midday trading on Wednesday, hitting $174.01. The stock had a trading volume of 8,637 shares, compared to its average volume of 39,115. The company has a market cap of $1.21 billion, a P/E ratio of 10.29 and a beta of 1.49. 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 business's 50 day moving average is $196.66 and its 200-day moving average is $212.84. Virtus Investment Partners, Inc. has a 52 week low of $170.14 and a 52 week high of $263.39.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's payout ratio is 53.25%.

Analyst Ratings Changes

Several research firms have weighed in on VRTS. Morgan Stanley dropped their price objective on Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Barclays dropped their price target on Virtus Investment Partners from $221.00 to $200.00 and set an "underweight" rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Finally, Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $225.75.

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.