Point72 Asset Management L.P. Takes Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Point72 Asset Management L.P. acquired a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,300 shares of the closed-end fund's stock, valued at approximately $482,000.

Several other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Virtus Investment Partners by 6,550.0% during the 2nd quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund's stock valued at $33,000 after purchasing an additional 131 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Virtus Investment Partners during the second quarter valued at approximately $42,000. nVerses Capital LLC bought a new position in Virtus Investment Partners in the third quarter worth approximately $42,000. CWM LLC raised its position in Virtus Investment Partners by 334.1% in the second quarter. CWM LLC now owns 382 shares of the closed-end fund's stock worth $86,000 after acquiring an additional 294 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in Virtus Investment Partners in the second quarter worth approximately $164,000. Institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Price Performance

Shares of Virtus Investment Partners stock traded down $1.27 during trading hours on Thursday, hitting $242.95. The company's stock had a trading volume of 24,629 shares, compared to its average volume of 42,248. The company has a market cap of $1.71 billion, a PE ratio of 14.77 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The business has a 50 day moving average price of $230.17 and a two-hundred day moving average price of $221.01. Virtus Investment Partners, Inc. has a 12-month low of $190.42 and a 12-month high of $263.39.

Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 3.70%. Virtus Investment Partners's payout ratio is 54.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on VRTS shares. Barclays upped their price objective on Virtus Investment Partners from $212.00 to $239.00 and gave the stock an "underweight" rating in a research note on Monday. Piper Sandler raised their price objective on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 27th. StockNews.com lowered shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a report on Monday, November 25th. Finally, Morgan Stanley lifted their price target on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the company an "underweight" rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Virtus Investment Partners currently has a consensus rating of "Hold" and a consensus price target of $244.25.

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.