Norges Bank Acquires New Shares in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Norges Bank bought a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 43,082 shares of the closed-end fund’s stock, valued at approximately $9,503,000. Norges Bank owned approximately 0.61% of Virtus Investment Partners at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VRTS. Handelsbanken Fonder AB grew its stake in Virtus Investment Partners by 8.3% during the fourth quarter. Handelsbanken Fonder AB now owns 1,300 shares of the closed-end fund’s stock valued at $287,000 after acquiring an additional 100 shares in the last quarter. Quarry LP boosted its holdings in Virtus Investment Partners by 388.5% in the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 101 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Virtus Investment Partners by 170.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund’s stock valued at $44,000 after purchasing an additional 126 shares in the last quarter. KBC Group NV increased its holdings in shares of Virtus Investment Partners by 61.2% in the fourth quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock worth $87,000 after purchasing an additional 150 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Virtus Investment Partners by 21.5% during the third quarter. HighTower Advisors LLC now owns 1,157 shares of the closed-end fund’s stock valued at $242,000 after buying an additional 205 shares during the period. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Stock Down 2.6 %

Shares of VRTS opened at $147.08 on Wednesday. Virtus Investment Partners, Inc. has a 1 year low of $145.92 and a 1 year high of $252.82. 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 stock has a 50 day simple moving average of $179.00 and a two-hundred day simple moving average of $207.64. The firm has a market cap of $1.02 billion, a P/E ratio of 8.70 and a beta of 1.36.

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 6.12%. Virtus Investment Partners’s dividend payout ratio (DPR) is 53.25%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Piper Sandler cut their price target on shares of Virtus Investment Partners from $252.00 to $216.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Barclays lowered their price objective on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $215.25.

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.