Virtus Investment Partners (NASDAQ:VRTS) Price Target Lowered to $221.00 at Barclays

Virtus Investment Partners (NASDAQ:VRTS - Free Report) had its target price reduced by Barclays from $239.00 to $221.00 in a research report released on Friday,Benzinga reports. They currently have an underweight rating on the closed-end fund's stock.

A number of other analysts have also weighed in on VRTS. Morgan Stanley upped their target price on Virtus Investment Partners from $224.00 to $228.00 and gave the stock an "underweight" rating in a report on Friday, December 20th. Piper Sandler boosted their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Finally, StockNews.com raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Virtus Investment Partners currently has an average rating of "Hold" and a consensus target price of $242.50.

Virtus Investment Partners Stock Down 0.9 %

Shares of VRTS traded down $1.89 during mid-day trading on Friday, hitting $209.10. The company's stock had a trading volume of 33,750 shares, compared to its average volume of 38,530. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The company's 50-day moving average is $230.80 and its 200-day moving average is $220.43. Virtus Investment Partners has a 52-week low of $190.42 and a 52-week high of $263.39. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.71 and a beta of 1.48.

Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Friday, January 31st. Virtus Investment Partners's payout ratio is presently 54.71%.

Institutional Trading of Virtus Investment Partners

A number of institutional investors have recently made changes to their positions in VRTS. Jane Street Group LLC raised its stake in Virtus Investment Partners by 592.0% in the third quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund's stock valued at $1,931,000 after buying an additional 7,886 shares during the last quarter. Private Client Services LLC purchased a new stake in Virtus Investment Partners during the 4th quarter worth approximately $799,000. JPMorgan Chase & Co. increased its stake in Virtus Investment Partners by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund's stock valued at $30,451,000 after purchasing an additional 3,651 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Virtus Investment Partners in the third quarter worth $482,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Virtus Investment Partners by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund's stock worth $53,522,000 after buying an additional 16,586 shares during the period. Institutional investors and hedge funds own 80.52% of the company's stock.

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.