Virtus Investment Partners (NASDAQ:VRTS) Price Target Lowered to $216.00 at Piper Sandler

Virtus Investment Partners (NASDAQ:VRTS - Free Report) had its price objective trimmed by Piper Sandler from $252.00 to $216.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the closed-end fund's stock.

VRTS has been the topic of a number of other research reports. StockNews.com upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Barclays cut their price objective on Virtus Investment Partners from $221.00 to $200.00 and set an "underweight" rating for the company in a research note on Monday, February 3rd. Finally, Morgan Stanley decreased their price target on Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Virtus Investment Partners currently has an average rating of "Hold" and an average price target of $193.00.

Virtus Investment Partners Stock Up 1.6 %

Shares of VRTS stock traded up $2.40 during mid-day trading on Tuesday, hitting $150.43. The company's stock had a trading volume of 60,081 shares, compared to its average volume of 40,408. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 8.90 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners has a 52-week low of $144.13 and a 52-week high of $252.82. The business has a 50-day moving average price of $175.29 and a 200 day moving average price of $206.16.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders 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 yield of 5.98%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners's payout ratio is 53.25%.

Hedge Funds Weigh In On Virtus Investment Partners

Several institutional investors have recently bought and sold shares of the business. Quarry LP lifted its position in Virtus Investment Partners by 388.5% in the third quarter. Quarry LP now owns 127 shares of the closed-end fund's stock worth $27,000 after buying an additional 101 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock worth $44,000 after purchasing an additional 126 shares in the last quarter. R Squared Ltd purchased a new position in shares of Virtus Investment Partners during the fourth quarter valued at $75,000. KBC Group NV lifted its position in shares of Virtus Investment Partners by 61.2% in the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund's stock worth $87,000 after purchasing an additional 150 shares during the period. Finally, Everence Capital Management Inc. bought a new stake in Virtus Investment Partners during the 4th quarter valued at $203,000. Institutional investors own 80.52% of the company's stock.

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.