Fmr LLC Sells 188,850 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Fmr LLC cut its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 92.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,580 shares of the closed-end fund’s stock after selling 188,850 shares during the period. Fmr LLC owned 0.21% of Virtus Investment Partners worth $3,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of VRTS. Fisher Asset Management LLC grew its position in shares of Virtus Investment Partners by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 68,376 shares of the closed-end fund’s stock worth $14,321,000 after buying an additional 640 shares during the period. Algert Global LLC grew its position in shares of Virtus Investment Partners by 57.1% during the 3rd quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock worth $5,481,000 after buying an additional 9,508 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Virtus Investment Partners by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock worth $53,522,000 after buying an additional 16,586 shares during the period. Intech Investment Management LLC grew its position in shares of Virtus Investment Partners by 63.0% during the 3rd quarter. Intech Investment Management LLC now owns 1,452 shares of the closed-end fund’s stock worth $304,000 after buying an additional 561 shares during the period. Finally, Quest Partners LLC grew its position in shares of Virtus Investment Partners by 15.3% during the 3rd quarter. Quest Partners LLC now owns 9,555 shares of the closed-end fund’s stock worth $2,001,000 after buying an additional 1,268 shares during the period. 80.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VRTS has been the subject of several analyst reports. StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Morgan Stanley lifted their price target on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Piper Sandler boosted their price objective on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, Barclays boosted their price objective on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $244.25.

Virtus Investment Partners Stock Down 1.2 %

Shares of NASDAQ VRTS opened at $239.70 on Friday. The stock has a market cap of $1.68 billion, a P/E ratio of 14.57 and a beta of 1.46. The firm has a 50 day moving average price of $230.83 and a 200 day moving average price of $221.02. 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 $190.42 and a 52-week high of $263.39.

Virtus Investment Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.75%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 54.71%.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.