Picton Mahoney Asset Management acquired a new stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,421 shares of the closed-end fund's stock, valued at approximately $534,000.
A number of other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Virtus Investment Partners by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock valued at $61,074,000 after purchasing an additional 21,344 shares during the last quarter. Basswood Capital Management L.L.C. lifted its stake in Virtus Investment Partners by 12.4% during the third quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund's stock valued at $23,129,000 after purchasing an additional 12,193 shares during the last quarter. Algert Global LLC lifted its stake in Virtus Investment Partners by 57.1% during the third quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund's stock valued at $5,481,000 after purchasing an additional 9,508 shares during the last quarter. Barclays PLC lifted its stake in Virtus Investment Partners by 204.9% during the third quarter. Barclays PLC now owns 14,119 shares of the closed-end fund's stock valued at $2,957,000 after purchasing an additional 9,488 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Virtus Investment Partners by 592.0% during 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 purchasing an additional 7,886 shares during the last quarter. Institutional investors own 80.52% of the company's stock.
Virtus Investment Partners Stock Up 0.2 %
Shares of Virtus Investment Partners stock traded up $0.28 on Thursday, hitting $177.12. 41,967 shares of the company traded hands, compared to its average volume of 36,234. The company has a 50-day moving average price of $192.15 and a 200 day moving average price of $211.56. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. Virtus Investment Partners, Inc. has a 12-month low of $167.13 and a 12-month high of $263.39. The company has a market cap of $1.23 billion, a PE ratio of 10.48 and a beta of 1.49.
Virtus Investment Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio is currently 53.25%.
Analyst Ratings Changes
Several analysts recently commented on the stock. Barclays cut their target price on shares of 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. Morgan Stanley lowered their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a research report on Thursday, February 6th. StockNews.com upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Finally, Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $225.75.
Check Out Our Latest Report on VRTS
Virtus Investment Partners Company Profile
(
Free Report)
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.
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