Virtus Investment Partners, Inc. (NASDAQ:VRTS) Given Consensus Rating of “Reduce” by Analysts

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have received an average recommendation of “Reduce” from the five brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $181.25.

A number of brokerages have weighed in on VRTS. Morgan Stanley cut their price target on shares of Virtus Investment Partners from $173.00 to $168.00 and set an “underweight” rating on the stock in a research note on Wednesday, December 17th. TD Cowen dropped 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. Piper Sandler reduced their target price on shares of Virtus Investment Partners from $225.00 to $218.00 and set an “overweight” rating for the company in a research note on Tuesday, December 23rd. Zacks Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Finally, Barclays boosted their price target on Virtus Investment Partners from $158.00 to $166.00 and gave the company an “underweight” rating in a report on Thursday, January 15th.

Institutional Trading of Virtus Investment Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd boosted its holdings in Virtus Investment Partners by 1.5% during the third quarter. Y Intercept Hong Kong Ltd now owns 4,670 shares of the closed-end fund’s stock worth $887,000 after purchasing an additional 67 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Virtus Investment Partners by 5.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,668 shares of the closed-end fund’s stock worth $303,000 after buying an additional 89 shares in the last quarter. New York State Teachers Retirement System lifted its position in Virtus Investment Partners by 1.9% during 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 buying an additional 100 shares in the last quarter. Swiss National Bank boosted its stake in shares of Virtus Investment Partners by 0.8% during the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund’s stock worth $2,413,000 after buying an additional 100 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 acquiring an additional 103 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Trading Down 1.6%

NASDAQ:VRTS opened at $163.31 on Friday. 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 business’s 50-day simple moving average is $165.17 and its 200-day simple moving average is $179.30. Virtus Investment Partners has a fifty-two week low of $142.18 and a fifty-two week high of $215.06. The stock has a market capitalization of $1.10 billion, a PE ratio of 9.66 and a beta of 1.47.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Saturday, January 31st will be paid a $2.40 dividend. The ex-dividend date is Friday, January 30th. This represents a $9.60 annualized dividend and a yield of 5.9%. Virtus Investment Partners’s payout ratio is presently 49.28%.

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.