JPMorgan Chase & Co. Boosts Stock Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

JPMorgan Chase & Co. raised its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,028 shares of the closed-end fund's stock after acquiring an additional 12,642 shares during the quarter. JPMorgan Chase & Co. owned about 2.25% of Virtus Investment Partners worth $34,858,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of VRTS. Quarry LP increased its stake in Virtus Investment Partners by 388.5% in the third quarter. Quarry LP now owns 127 shares of the closed-end fund's stock valued at $27,000 after purchasing an additional 101 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Virtus Investment Partners by 170.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock valued at $44,000 after buying an additional 126 shares during the period. R Squared Ltd bought a new stake in Virtus Investment Partners in the 4th quarter valued at about $75,000. KBC Group NV raised its stake in Virtus Investment Partners by 61.2% during the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund's stock worth $87,000 after buying an additional 150 shares during the period. Finally, Point72 DIFC Ltd boosted its holdings in Virtus Investment Partners by 57.2% in the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund's stock worth $128,000 after acquiring an additional 222 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Stock Up 1.6 %

Shares of VRTS traded up $2.40 during trading hours on Friday, reaching $150.43. 60,081 shares of the stock traded hands, compared to its average volume of 40,408. Virtus Investment Partners, Inc. has a 52 week low of $144.13 and a 52 week high of $252.82. 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 stock has a fifty day simple moving average of $175.29 and a 200 day simple moving average of $206.16. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 8.90 and a beta of 1.36.

Virtus Investment Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.98%. Virtus Investment Partners's payout ratio is presently 53.25%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRTS. Barclays cut their target price on Virtus Investment Partners from $221.00 to $200.00 and set an "underweight" rating on the stock in a report on Monday, February 3rd. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $252.00 to $216.00 and set an "overweight" rating for the company in a report on Tuesday. TD Cowen decreased 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 report on Wednesday. StockNews.com raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, Morgan Stanley decreased 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. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $193.00.

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.