Glenmede Trust Co. NA Has $7.53 Million Stock Position in Virtus Investment Partners, Inc. $VRTS

Glenmede Trust Co. NA lessened its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 7.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,041 shares of the closed-end fund’s stock after selling 4,292 shares during the quarter. Glenmede Trust Co. NA owned about 0.84% of Virtus Investment Partners worth $7,529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRTS. Illinois Municipal Retirement Fund grew its stake in Virtus Investment Partners by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 3,446 shares of the closed-end fund’s stock valued at $463,000 after acquiring an additional 77 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Virtus Investment Partners by 24.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 97 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of Virtus Investment Partners by 1.9% in the 4th quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund’s stock worth $881,000 after purchasing an additional 100 shares in the last quarter. Swiss National Bank grew its position in Virtus Investment Partners by 0.8% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund’s stock valued at $2,413,000 after purchasing an additional 100 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Virtus Investment Partners by 2.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock valued at $681,000 after purchasing an additional 103 shares during the period. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Trading Up 6.7%

Shares of VRTS stock opened at $170.04 on Tuesday. Virtus Investment Partners, Inc. has a 52-week low of $121.61 and a 52-week high of $203.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The company has a 50-day simple moving average of $151.97 and a two-hundred day simple moving average of $145.85. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 10.06 and a beta of 1.38.

Virtus Investment Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a $2.40 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $9.60 annualized dividend and a dividend yield of 5.6%. Virtus Investment Partners’s dividend payout ratio is currently 54.70%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VRTS shares. TD Cowen raised their price objective on shares of Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Morgan Stanley reissued an “underweight” rating and set a $130.00 target price on shares of Virtus Investment Partners in a research report on Wednesday, July 29th. Barclays lowered their target price on shares of Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Piper Sandler decreased their price objective on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Reduce” and a consensus price target of $145.50.

Virtus Investment Partners Company 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.