Virtus Investment Partners (NASDAQ:VRTS) Sets New 1-Year Low - What's Next?

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $174.81 and last traded at $174.45, with a volume of 14718 shares changing hands. The stock had previously closed at $181.64.

Wall Street Analysts Forecast Growth

VRTS has been the topic of a number of recent research reports. Piper Sandler dropped 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 note on Tuesday, January 21st. Morgan Stanley dropped their target price on 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. Barclays cut their price target 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. Finally, StockNews.com upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note 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 given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $225.75.

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Virtus Investment Partners Price Performance

The company has a market cap of $1.20 billion, a PE ratio of 10.23 and a beta of 1.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The stock's 50-day moving average is $196.66 and its 200 day moving average is $212.84.

Virtus Investment Partners Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 5.21%. Virtus Investment Partners's dividend payout ratio is presently 53.25%.

Institutional Investors Weigh In On Virtus Investment Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in shares of 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 acquiring an additional 7,886 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in Virtus Investment Partners by 2,902.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,423 shares of the closed-end fund's stock valued at $763,000 after purchasing an additional 3,309 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Virtus Investment Partners by 2.6% in the third 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 last quarter. Private Client Services LLC acquired a new stake in shares of Virtus Investment Partners during the fourth quarter worth $799,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Virtus Investment Partners during the third quarter valued at $482,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

About Virtus Investment Partners

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.