Virtus Investment Partners (NASDAQ:VRTS) Hits New 12-Month Low – Here’s Why

Virtus Investment Partners, Inc. (NASDAQ:VRTS) shares hit a new 52-week low on Saturday . The stock traded as low as $140.23 and last traded at $140.67, with a volume of 113303 shares trading hands. The stock had previously closed at $150.96.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays increased their price objective on Virtus Investment Partners from $158.00 to $166.00 and gave the company an “underweight” rating in a report on Thursday, January 15th. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Piper Sandler dropped their price target on Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday. TD Cowen cut their price objective 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. Finally, Morgan Stanley lowered their target price on shares of Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $175.00.

Virtus Investment Partners Stock Performance

The firm’s 50 day simple moving average is $164.40 and its 200 day simple moving average is $177.51. The firm has a market capitalization of $950.09 million, a price-to-earnings ratio of 8.32 and a beta of 1.47. 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 11th. Shareholders of record on Saturday, January 31st will be given a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Friday, January 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 49.28%.

Institutional Trading of Virtus Investment Partners

A number of hedge funds have recently modified their holdings of VRTS. NBT Bank N A NY lifted its holdings in Virtus Investment Partners by 1,483.3% in the third quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund’s stock valued at $36,000 after acquiring an additional 178 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Virtus Investment Partners by 90.4% during the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after purchasing an additional 150 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Virtus Investment Partners by 226.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 359 shares of the closed-end fund’s stock valued at $65,000 after purchasing an additional 249 shares during the period. PNC Financial Services Group Inc. boosted its holdings in 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 buying an additional 97 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Virtus Investment Partners during the second quarter valued at $147,000. Hedge funds and other institutional investors own 80.52% of the company’s stock.

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.