Russell Investments Group Ltd. decreased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,722 shares of the closed-end fund's stock after selling 2,327 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Virtus Investment Partners worth $1,924,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Virtus Investment Partners in the fourth quarter worth $9,503,000. Charles Schwab Investment Management Inc. increased its stake in Virtus Investment Partners by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock worth $61,074,000 after acquiring an additional 21,344 shares during the last quarter. American Century Companies Inc. grew its position in Virtus Investment Partners by 33.6% during the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock valued at $18,030,000 after acquiring an additional 20,544 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Virtus Investment Partners by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund's stock worth $34,858,000 after acquiring an additional 12,642 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Virtus Investment Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 14,119 shares of the closed-end fund's stock worth $2,957,000 after acquiring an additional 9,488 shares during the last quarter. Institutional investors own 80.52% of the company's stock.
Virtus Investment Partners Stock Performance
Shares of NASDAQ VRTS traded up $0.45 during trading on Thursday, reaching $154.36. 2,712 shares of the company traded hands, compared to its average volume of 44,355. The firm has a 50 day simple moving average of $169.90 and a 200-day simple moving average of $203.37. 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 stock has a market capitalization of $1.07 billion, a PE ratio of 9.17 and a beta of 1.36. Virtus Investment Partners, Inc. has a 52-week low of $142.18 and a 52-week high of $252.82.
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 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's payout ratio is presently 53.25%.
Analysts Set New Price Targets
VRTS has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Morgan Stanley reduced their target price 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. Piper Sandler cut their price objective on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Barclays cut their price objective on shares of Virtus Investment Partners from $200.00 to $149.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Finally, StockNews.com raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $179.00.
Read Our Latest Stock Report on VRTS
Virtus Investment Partners 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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