Nisa Investment Advisors LLC Lowers Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Nisa Investment Advisors LLC decreased its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 84.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 710 shares of the closed-end fund's stock after selling 3,800 shares during the period. Nisa Investment Advisors LLC's holdings in Virtus Investment Partners were worth $149,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Lombard Odier Asset Management Europe Ltd bought a new stake in Virtus Investment Partners during the 2nd quarter worth approximately $6,776,000. AQR Capital Management LLC lifted its stake in shares of Virtus Investment Partners by 78.1% in the second quarter. AQR Capital Management LLC now owns 50,952 shares of the closed-end fund's stock valued at $11,508,000 after buying an additional 22,344 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Virtus Investment Partners in the second quarter valued at $2,553,000. Quadrature Capital Ltd lifted its position in shares of Virtus Investment Partners by 80.2% during the first quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund's stock valued at $5,825,000 after purchasing an additional 10,461 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Virtus Investment Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 328,067 shares of the closed-end fund's stock valued at $74,092,000 after purchasing an additional 8,393 shares in the last quarter. Institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Trading Down 1.9 %

NASDAQ VRTS traded down $4.55 during trading on Thursday, hitting $234.38. The company had a trading volume of 49,765 shares, compared to its average volume of 43,458. The company has a current ratio of 15.18, a quick ratio of 15.18 and a debt-to-equity ratio of 0.28. The company's fifty day moving average is $210.82 and its 200-day moving average is $218.75. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 14.25 and a beta of 1.45. Virtus Investment Partners, Inc. has a one year low of $190.42 and a one year high of $263.39.

Virtus Investment Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be paid a dividend of $2.25 per share. This is a positive change from Virtus Investment Partners's previous quarterly dividend of $1.90. This represents a $9.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, October 31st. Virtus Investment Partners's dividend payout ratio (DPR) is currently 54.71%.

Analyst Ratings Changes

Several analysts have commented on VRTS shares. Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $267.00 to $264.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 10th. Barclays assumed coverage on shares of Virtus Investment Partners in a report on Tuesday, August 27th. They issued an "underweight" rating and a $206.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the stock an "underweight" rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $233.50.

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.