Vanguard Group Inc. Sells 23,781 Shares of Virtus Investment Partners, Inc. $VRTS

Vanguard Group Inc. reduced its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 2.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 846,515 shares of the closed-end fund’s stock after selling 23,781 shares during the quarter. Vanguard Group Inc. owned 12.54% of Virtus Investment Partners worth $160,863,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in VRTS. Y Intercept Hong Kong Ltd grew its position in shares of Virtus Investment Partners by 1.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 4,670 shares of the closed-end fund’s stock valued at $887,000 after acquiring an additional 67 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Virtus Investment Partners by 5.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,668 shares of the closed-end fund’s stock valued at $303,000 after purchasing an additional 89 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Virtus Investment Partners by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock worth $681,000 after buying an additional 103 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Virtus Investment Partners by 90.4% in the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after buying an additional 150 shares during the period. Finally, NBT Bank N A NY lifted its position in shares of Virtus Investment Partners by 1,483.3% during the 3rd quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund’s stock valued at $36,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Up 1.7%

Shares of NASDAQ VRTS opened at $140.67 on Tuesday. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $157.22 and a 200-day moving average of $170.92. The firm has a market capitalization of $950.11 million, a price-to-earnings ratio of 8.32 and a beta of 1.47. Virtus Investment Partners, Inc. has a 12 month low of $134.81 and a 12 month high of $215.06.

Virtus Investment Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th will be issued a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners’s payout ratio is currently 48.02%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on VRTS. Barclays reissued an “underweight” rating and issued a $142.00 price objective on shares of Virtus Investment Partners in a report on Monday, February 9th. TD Cowen lowered their target price on shares of Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. Morgan Stanley dropped their price objective on Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating on the stock in a report on Tuesday, February 3rd. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Finally, Piper Sandler lowered their price target on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Virtus Investment Partners has a consensus rating of “Reduce” and an average price target of $169.00.

Virtus Investment Partners Profile

Virtus Investment Partners (NASDAQ: VRTS) is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company’s product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.