Charles Schwab Investment Management Inc. boosted its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 8.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 276,880 shares of the closed-end fund's stock after acquiring an additional 21,344 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.94% of Virtus Investment Partners worth $61,074,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of VRTS. Victory Capital Management Inc. raised its position in Virtus Investment Partners by 1.0% in the third quarter. Victory Capital Management Inc. now owns 98,626 shares of the closed-end fund's stock worth $20,657,000 after acquiring an additional 947 shares in the last quarter. MQS Management LLC purchased a new position in Virtus Investment Partners in the third quarter worth $227,000. Quest Partners LLC raised its position in Virtus Investment Partners by 15.3% in the third quarter. Quest Partners LLC now owns 9,555 shares of the closed-end fund's stock worth $2,001,000 after acquiring an additional 1,268 shares in the last quarter. Intech Investment Management LLC grew its holdings in Virtus Investment Partners by 63.0% in the third quarter. Intech Investment Management LLC now owns 1,452 shares of the closed-end fund's stock valued at $304,000 after purchasing an additional 561 shares during the last quarter. Finally, Algert Global LLC grew its holdings in Virtus Investment Partners by 57.1% in 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. Hedge funds and other institutional investors own 80.52% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the company. Barclays lowered their target price 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. Piper Sandler decreased their price objective on Virtus Investment Partners from $274.00 to $258.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley decreased their price objective on 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. Finally, StockNews.com raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $225.75.
Read Our Latest Stock Report on VRTS
Virtus Investment Partners Trading Up 3.1 %
Shares of NASDAQ:VRTS traded up $5.13 during trading on Friday, reaching $173.07. 31,033 shares of the stock were exchanged, compared to its average volume of 39,486. The firm's 50-day moving average price is $193.73 and its 200 day moving average price is $211.97. Virtus Investment Partners, Inc. has a 12-month low of $167.13 and a 12-month high of $263.39. 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 firm has a market cap of $1.21 billion, a price-to-earnings ratio of 10.24 and a beta of 1.49.
Virtus Investment Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio is presently 53.25%.
About Virtus Investment Partners
(
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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