Prudential Financial Inc. Buys 4,970 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Prudential Financial Inc. lifted its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 44.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,124 shares of the closed-end fund's stock after acquiring an additional 4,970 shares during the quarter. Prudential Financial Inc. owned approximately 0.23% of Virtus Investment Partners worth $3,557,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position 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 worth $61,074,000 after purchasing an additional 21,344 shares during the period. Geode Capital Management LLC lifted its stake in shares of Virtus Investment Partners by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund's stock worth $31,702,000 after buying an additional 821 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Virtus Investment Partners by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund's stock worth $30,451,000 after buying an additional 3,651 shares during the period. American Century Companies Inc. grew its stake in Virtus Investment Partners by 33.6% in the 4th quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock valued at $18,030,000 after buying an additional 20,544 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Virtus Investment Partners by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 71,600 shares of the closed-end fund's stock valued at $15,794,000 after acquiring an additional 3,224 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.

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Virtus Investment Partners Price Performance

Shares of NASDAQ:VRTS traded down $3.60 during trading on Friday, reaching $158.16. 98,755 shares of the company traded hands, compared to its average volume of 39,926. The firm has a market capitalization of $1.10 billion, a PE ratio of 9.36 and a beta of 1.36. Virtus Investment Partners, Inc. has a 52 week low of $151.77 and a 52 week high of $252.82. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The company's 50 day moving average is $182.74 and its two-hundred day moving average is $208.91.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a yield of 5.69%. Virtus Investment Partners's dividend payout ratio (DPR) is 53.25%.

Analysts Set New Price Targets

VRTS has been the topic of several research reports. Piper Sandler decreased their target price on 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. Barclays decreased their price objective 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. StockNews.com raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Finally, Morgan Stanley decreased their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $225.75.

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.