Vanguard Group Inc. Sells 23,781 Shares of Virtus Investment Partners, Inc. $VRTS

Vanguard Group Inc. decreased its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 2.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 846,515 shares of the closed-end fund’s stock after selling 23,781 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Virtus Investment Partners worth $160,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of VRTS. Geode Capital Management LLC raised its stake 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 worth $28,115,000 after acquiring an additional 961 shares in the last quarter. American Century Companies Inc. raised its position in Virtus Investment Partners by 11.3% in the 2nd quarter. American Century Companies Inc. now owns 125,962 shares of the closed-end fund’s stock worth $22,850,000 after purchasing an additional 12,770 shares during the period. Brown Advisory Inc. raised its position in Virtus Investment Partners by 21.6% in the 2nd quarter. Brown Advisory Inc. now owns 101,954 shares of the closed-end fund’s stock worth $18,494,000 after purchasing an additional 18,143 shares during the period. Bank of New York Mellon Corp raised its position in Virtus Investment Partners by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 90,416 shares of the closed-end fund’s stock worth $16,402,000 after purchasing an additional 4,252 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Virtus Investment Partners by 36.2% in 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 during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Shares of VRTS stock opened at $140.67 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The firm has a market cap of $950.11 million, a P/E ratio of 8.32 and a beta of 1.47. The business’s 50 day moving average price is $157.22 and its 200-day moving average price is $170.92. Virtus Investment Partners, Inc. has a fifty-two week low of $134.81 and a fifty-two week high of $215.06.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be issued a $2.40 dividend. The ex-dividend date is Thursday, April 30th. This represents a $9.60 annualized dividend and a yield of 6.8%. Virtus Investment Partners’s dividend payout ratio is 48.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on VRTS shares. Piper Sandler reduced their price objective on Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Zacks Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Morgan Stanley reduced their price target on 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. TD Cowen lowered their price objective 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 restated an “underweight” rating and issued a $142.00 target price 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 issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $169.00.

Virtus Investment Partners 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.