Virtus Investment Partners (NASDAQ:VRTS) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Virtus Investment Partners (NASDAQ:VRTS) from a buy rating to a hold rating in a report released on Friday morning.

Other research analysts have also issued reports about the company. Piper Sandler upped their price objective on Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Barclays reduced their target price on shares of Virtus Investment Partners from $239.00 to $221.00 and set an “underweight” rating for the company in a research report on Friday. Finally, Morgan Stanley raised their price target on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $242.50.

Virtus Investment Partners Stock Performance

Shares of VRTS stock opened at $209.10 on Friday. Virtus Investment Partners has a 52 week low of $190.42 and a 52 week high of $263.39. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.19 and a beta of 1.48. The company has a 50-day simple moving average of $230.80 and a 200 day simple moving average of $220.46. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Friday, January 31st. Virtus Investment Partners’s payout ratio is currently 54.71%.

Institutional Investors Weigh In On Virtus Investment Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP increased its holdings in Virtus Investment Partners by 388.5% in the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after buying an additional 101 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Virtus Investment Partners during the 2nd quarter worth approximately $42,000. nVerses Capital LLC bought a new position in Virtus Investment Partners in the third quarter valued at approximately $42,000. Blue Trust Inc. raised its position in Virtus Investment Partners by 138.3% during the third quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock valued at $72,000 after purchasing an additional 184 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its stake in Virtus Investment Partners by 57.2% during the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after purchasing an additional 222 shares during the last quarter. 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.