Algert Global LLC Has $12.06 Million Position in Virtus Investment Partners, Inc. $VRTS

Algert Global LLC grew its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,473 shares of the closed-end fund’s stock after acquiring an additional 12,697 shares during the quarter. Algert Global LLC owned 0.94% of Virtus Investment Partners worth $12,062,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC increased its stake in Virtus Investment Partners by 73.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 12,560 shares of the closed-end fund’s stock valued at $2,387,000 after buying an additional 5,329 shares during the last quarter. Creative Planning lifted its position in Virtus Investment Partners by 37.6% during the 3rd quarter. Creative Planning now owns 10,125 shares of the closed-end fund’s stock worth $1,924,000 after buying an additional 2,765 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Virtus Investment Partners by 43.8% during the 3rd quarter. Lazard Asset Management LLC now owns 9,291 shares of the closed-end fund’s stock worth $1,766,000 after buying an additional 2,831 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Virtus Investment Partners during the 3rd quarter worth about $540,000. Finally, Man Group plc grew its holdings in shares of Virtus Investment Partners by 7.4% in the 3rd quarter. Man Group plc now owns 39,270 shares of the closed-end fund’s stock valued at $7,462,000 after acquiring an additional 2,693 shares in the last quarter. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Stock Down 1.0%

Shares of VRTS opened at $126.41 on Monday. The firm has a market cap of $846.28 million, a P/E ratio of 7.48 and a beta of 1.47. 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 $125.92 and a 52 week high of $215.06. The firm’s 50-day simple moving average is $151.64 and its 200 day simple moving average is $166.99.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be paid a $2.40 dividend. The ex-dividend date is Thursday, April 30th. This represents a $9.60 annualized dividend and a dividend yield of 7.6%. Virtus Investment Partners’s dividend payout ratio is 48.02%.

Wall Street Analysts Forecast Growth

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