Victory Capital Management Inc. Boosts Holdings in Virtus Investment Partners, Inc. $VRTS

Victory Capital Management Inc. grew its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 109.4% during the 3rd quarter, Holdings Channel reports. The firm owned 229,357 shares of the closed-end fund’s stock after purchasing an additional 119,802 shares during the quarter. Victory Capital Management Inc.’s holdings in Virtus Investment Partners were worth $43,585,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of VRTS. American Century Companies Inc. increased its stake in Virtus Investment Partners by 23.8% during the 3rd quarter. American Century Companies Inc. now owns 155,881 shares of the closed-end fund’s stock worth $29,622,000 after buying an additional 29,919 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Virtus Investment Partners by 0.6% during the second quarter. Geode Capital Management LLC now owns 154,982 shares of the closed-end fund’s stock valued at $28,115,000 after acquiring an additional 961 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Virtus Investment Partners by 21.6% in the second quarter. Brown Advisory Inc. now owns 101,954 shares of the closed-end fund’s stock valued at $18,494,000 after acquiring an additional 18,143 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Virtus Investment Partners by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 90,416 shares of the closed-end fund’s stock worth $16,402,000 after acquiring an additional 4,252 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Virtus Investment Partners by 36.2% during the second quarter. AQR Capital Management LLC now owns 71,347 shares of the closed-end fund’s stock worth $12,942,000 after purchasing an additional 18,956 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRTS. Piper Sandler reduced their target price on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Zacks Research raised shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Morgan Stanley cut their price objective on shares of Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating for the company in a report on Tuesday, February 3rd. TD Cowen dropped their price target on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating for the company in a research report on Wednesday, January 14th. Finally, Barclays reaffirmed an “underweight” rating and issued a $142.00 price target on shares of Virtus Investment Partners in a report on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Reduce” and an average target price of $169.00.

Virtus Investment Partners Price Performance

Shares of VRTS stock opened at $134.49 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 company has a market capitalization of $900.41 million, a PE ratio of 7.96 and a beta of 1.47. The firm’s 50-day moving average is $154.99 and its two-hundred day moving average is $169.54. Virtus Investment Partners, Inc. has a 12 month low of $131.87 and a 12 month high of $215.06.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th will be given a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners’s payout ratio is presently 48.02%.

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.