Glenmede Trust Co. NA Sells 4,292 Shares of Virtus Investment Partners, Inc. $VRTS

Glenmede Trust Co. NA lessened its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 7.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,041 shares of the closed-end fund’s stock after selling 4,292 shares during the period. Glenmede Trust Co. NA’s holdings in Virtus Investment Partners were worth $7,529,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in VRTS. Two Sigma Investments LP boosted its stake in Virtus Investment Partners by 574.8% in the third quarter. Two Sigma Investments LP now owns 46,059 shares of the closed-end fund’s stock valued at $8,753,000 after acquiring an additional 39,233 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Virtus Investment Partners by 101.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 77,937 shares of the closed-end fund’s stock worth $12,715,000 after purchasing an additional 39,188 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Virtus Investment Partners by 220.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 37,737 shares of the closed-end fund’s stock worth $7,171,000 after purchasing an additional 25,961 shares during the period. Tudor Investment Corp ET AL purchased a new position in Virtus Investment Partners in the fourth quarter valued at approximately $4,146,000. Finally, Zimmer Partners LP purchased a new position in Virtus Investment Partners in the fourth quarter valued at approximately $4,079,000. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Performance

NASDAQ:VRTS opened at $170.04 on Tuesday. The business’s fifty day moving average is $151.97 and its 200 day moving average is $145.85. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 10.06 and a beta of 1.38. 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, Inc. has a 52-week low of $121.61 and a 52-week high of $203.61.

Virtus Investment Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be issued a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, July 31st. Virtus Investment Partners’s payout ratio is presently 54.70%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VRTS. TD Cowen raised their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. Morgan Stanley reiterated an “underweight” rating and set a $130.00 price target on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. Barclays lowered their price objective on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, Piper Sandler dropped their price objective on shares of Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a report on Monday, May 4th. 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. Based on data from MarketBeat.com, Virtus Investment Partners currently has an average rating of “Reduce” and an average price target of $145.50.

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.