Virtus Investment Partners (NASDAQ:VRTS) Reaches New 1-Year Low – Here’s What Happened

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low on Friday . The company traded as low as $134.81 and last traded at $137.72, with a volume of 91700 shares. The stock had previously closed at $139.72.

Analysts Set New Price Targets

Several research firms have issued reports on VRTS. Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Morgan Stanley lowered their target price on shares of Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 3rd. Barclays reiterated an “underweight” rating and issued a $142.00 price target on shares of Virtus Investment Partners in a research report on Monday. Finally, TD Cowen decreased their price target on shares of Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating for the company in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $169.00.

Virtus Investment Partners Price Performance

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 company has a 50 day moving average price of $162.75 and a 200 day moving average price of $175.55. The firm has a market cap of $930.16 million, a PE ratio of 8.15 and a beta of 1.47.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Saturday, January 31st were issued a $2.40 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $9.60 annualized dividend and a dividend yield of 7.0%. Virtus Investment Partners’s payout ratio is presently 48.02%.

Institutional Investors Weigh In On Virtus Investment Partners

Hedge funds have recently added to or reduced their stakes in the company. NBT Bank N A NY increased its position in Virtus Investment Partners by 1,483.3% during the 3rd quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 178 shares during the period. Osaic Holdings Inc. grew its holdings in Virtus Investment Partners by 90.4% during the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock worth $57,000 after acquiring an additional 150 shares during the period. Nisa Investment Advisors LLC grew its holdings in Virtus Investment Partners by 226.4% during the second quarter. Nisa Investment Advisors LLC now owns 359 shares of the closed-end fund’s stock worth $65,000 after acquiring an additional 249 shares during the period. PNC Financial Services Group Inc. raised its position in Virtus Investment Partners by 24.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund’s stock worth $81,000 after acquiring an additional 97 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Virtus Investment Partners by 117.0% in the fourth quarter. Advisors Asset Management Inc. now owns 588 shares of the closed-end fund’s stock valued at $96,000 after acquiring an additional 317 shares during the period. Institutional investors and hedge funds 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.