Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lowered its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,973 shares of the closed-end fund's stock after selling 1,348 shares during the quarter. Meritage Portfolio Management owned approximately 0.30% of Virtus Investment Partners worth $4,626,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Quarry LP increased its stake 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 purchasing an additional 101 shares in the last quarter. QRG Capital Management Inc. raised its stake 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 last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Virtus Investment Partners by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 3,496 shares of the closed-end fund's stock worth $790,000 after acquiring an additional 135 shares during the period. KBC Group NV boosted its position in Virtus Investment Partners by 61.2% in the fourth 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. Finally, Sei Investments Co. increased its position in shares of Virtus Investment Partners by 7.7% during the 2nd quarter. Sei Investments Co. now owns 2,424 shares of the closed-end fund's stock valued at $548,000 after purchasing an additional 174 shares during the last quarter. Institutional investors own 80.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Barclays cut their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an "underweight" rating on the stock in a report on Monday, February 3rd. Morgan Stanley cut their price target on Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a research note on Thursday. Finally, Piper Sandler reduced their price target on Virtus Investment Partners from $274.00 to $258.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $225.75.

Virtus Investment Partners Stock Performance

VRTS stock traded down $2.73 during trading on Friday, reaching $188.54. The company had a trading volume of 25,139 shares, compared to its average volume of 35,800. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a twelve month low of $188.06 and a twelve month high of $263.39. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 11.16 and a beta of 1.47. The firm has a 50-day simple moving average of $219.40 and a 200-day simple moving average of $217.51.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be issued a $2.25 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $9.00 dividend on an annualized basis and a yield of 4.77%. Virtus Investment Partners's payout ratio is 53.25%.

Virtus Investment Partners 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.