Virtus Investment Partners (NASDAQ:VRTS) Stock Price Down 1.1% - Here's What Happened

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) fell 1.1% on Tuesday . The stock traded as low as $218.30 and last traded at $218.30. 206 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 42,473 shares. The stock had previously closed at $220.65.

Analyst Ratings Changes

A number of equities analysts have issued reports on VRTS shares. Barclays lifted their price target on Virtus Investment Partners from $212.00 to $239.00 and gave the company an "underweight" rating in a research note on Monday, December 9th. Piper Sandler lifted their target price on Virtus Investment Partners from $264.00 to $274.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Morgan Stanley increased their price target on Virtus Investment Partners from $224.00 to $228.00 and gave the company an "underweight" rating in a research report on Friday, December 20th. Finally, StockNews.com raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $247.00.

Virtus Investment Partners Trading Down 0.0 %

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 company has a market capitalization of $1.55 billion, a P/E ratio of 13.41 and a beta of 1.46. The firm has a fifty day moving average price of $233.38 and a 200-day moving average price of $221.23.

Virtus Investment Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Friday, January 31st. Virtus Investment Partners's payout ratio is 54.71%.

Hedge Funds Weigh In On Virtus Investment Partners

Several institutional investors and hedge funds have recently bought and sold shares of VRTS. Jane Street Group LLC boosted its holdings in Virtus Investment Partners by 592.0% in the 3rd quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund's stock worth $1,931,000 after buying an additional 7,886 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Virtus Investment Partners in the third quarter worth $482,000. Quest Partners LLC grew its position in shares of Virtus Investment Partners by 183.0% in the second quarter. Quest Partners LLC now owns 8,287 shares of the closed-end fund's stock valued at $1,872,000 after purchasing an additional 5,359 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Virtus Investment Partners by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund's stock valued at $53,522,000 after purchasing an additional 16,586 shares during the period. Finally, Meritage Portfolio Management lifted its holdings in Virtus Investment Partners by 36.1% during the 3rd quarter. Meritage Portfolio Management now owns 22,321 shares of the closed-end fund's stock worth $4,675,000 after purchasing an additional 5,919 shares in the last quarter. 80.52% of the stock is owned by 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.