Virtus Investment Partners (NASDAQ:VRTS) Hits New 12-Month Low - Here's Why

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $143.98 and last traded at $143.98, with a volume of 10436 shares traded. The stock had previously closed at $148.96.

Analyst Upgrades and Downgrades

VRTS has been the topic of several recent research reports. Morgan Stanley cut 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 note on Thursday, February 6th. StockNews.com upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, March 3rd. Barclays cut their price target on Virtus Investment Partners from $200.00 to $149.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler decreased their price objective on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, TD Cowen cut their target price on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Two investment 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 MarketBeat.com, Virtus Investment Partners currently has an average rating of "Hold" and a consensus target price of $179.00.

Virtus Investment Partners Stock Down 1.2 %

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. The firm's fifty day moving average is $169.25 and its 200-day moving average is $203.03.

Virtus Investment Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors 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 yield of 5.81%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio is presently 53.25%.

Institutional Investors Weigh In On Virtus Investment Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Virtus Investment Partners by 204.9% during the third quarter. Barclays PLC now owns 14,119 shares of the closed-end fund's stock valued at $2,957,000 after buying an additional 9,488 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Virtus Investment Partners by 0.5% during the third quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund's stock worth $31,702,000 after purchasing an additional 821 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $30,451,000 after purchasing an additional 3,651 shares during the period. Everence Capital Management Inc. acquired a new position in Virtus Investment Partners in the fourth quarter valued at $203,000. Finally, Private Client Services LLC purchased a new position in Virtus Investment Partners during the fourth quarter worth about $799,000. 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.