StockNews.com Begins Coverage on Virtus Investment Partners (NASDAQ:VRTS)

StockNews.com began coverage on shares of Virtus Investment Partners (NASDAQ:VRTS – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the closed-end fund’s stock.

Several other research firms have also issued reports on VRTS. Piper Sandler lowered Virtus Investment Partners from an overweight rating to a neutral rating and set a $248.00 price target on the stock. in a research report on Monday, February 6th. Morgan Stanley raised their price target on Virtus Investment Partners from $134.00 to $150.00 and gave the stock an underweight rating in a research report on Thursday, January 19th.

Virtus Investment Partners Trading Down 2.7 %

Shares of Virtus Investment Partners stock opened at $171.48 on Thursday. The business’s 50-day moving average price is $208.27 and its 200-day moving average price is $190.57. Virtus Investment Partners has a 12 month low of $141.80 and a 12 month high of $249.37. The firm has a market capitalization of $1.23 billion, a PE ratio of 11.04 and a beta of 1.63.

Virtus Investment Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be issued a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 3.85%. The ex-dividend date is Thursday, April 27th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 42.50%.

Institutional Investors Weigh In On Virtus Investment Partners

Several institutional investors and hedge funds have recently bought and sold shares of VRTS. Victory Capital Management Inc. lifted its holdings in Virtus Investment Partners by 3,020.3% in the 3rd quarter. Victory Capital Management Inc. now owns 78,851 shares of the closed-end fund’s stock worth $12,578,000 after buying an additional 76,324 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Virtus Investment Partners by 87.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 146,100 shares of the closed-end fund’s stock worth $27,969,000 after buying an additional 68,002 shares during the period. Norges Bank purchased a new stake in Virtus Investment Partners in the 4th quarter worth approximately $12,827,000. Vanguard Group Inc. lifted its holdings in Virtus Investment Partners by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 896,632 shares of the closed-end fund’s stock worth $215,182,000 after buying an additional 48,669 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Virtus Investment Partners by 2.3% in the 1st quarter. BlackRock Inc. now owns 1,188,513 shares of the closed-end fund’s stock valued at $285,232,000 after purchasing an additional 27,115 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.

About Virtus Investment Partners

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Virtus Investment Partners, Inc is an asset management company, which engages in the provision of investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional, closed-end funds, Virtus variable insurance trust funds, and other portfolio.