Brokerages Set Virtus Investment Partners, Inc. (NASDAQ:VRTS) Price Target at $161.50

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have been given an average rating of “Reduce” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $158.00.

A number of equities research analysts recently issued reports on VRTS shares. Zacks Research raised Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, January 16th. Morgan Stanley dropped their price objective on Virtus Investment Partners from $155.00 to $125.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. TD Cowen reduced their target price on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. Barclays decreased their price target on Virtus Investment Partners from $142.00 to $128.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, Piper Sandler cut their price objective on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th.

Insider Transactions at Virtus Investment Partners

In other news, Director W Howard Morris acquired 2,150 shares of the stock in a transaction on Thursday, March 12th. The stock was acquired at an average cost of $129.34 per share, for a total transaction of $278,081.00. Following the completion of the transaction, the director directly owned 2,000 shares in the company, valued at approximately $258,680. This trade represents a -1,433.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Virtus Investment Partners

Several hedge funds and other institutional investors have recently modified their holdings of VRTS. Victory Capital Management Inc. boosted its stake in Virtus Investment Partners by 109.4% in the third quarter. Victory Capital Management Inc. now owns 229,357 shares of the closed-end fund’s stock valued at $43,585,000 after buying an additional 119,802 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Virtus Investment Partners by 224.8% in the third quarter. AlphaQuest LLC now owns 10,944 shares of the closed-end fund’s stock worth $2,080,000 after acquiring an additional 7,575 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Virtus Investment Partners by 2,043.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 26,059 shares of the closed-end fund’s stock valued at $4,952,000 after purchasing an additional 24,843 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Virtus Investment Partners during the 3rd quarter valued at approximately $3,307,000. Finally, CenterBook Partners LP increased its position in Virtus Investment Partners by 261.8% during the 3rd quarter. CenterBook Partners LP now owns 14,054 shares of the closed-end fund’s stock worth $2,671,000 after purchasing an additional 10,170 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Performance

NASDAQ VRTS opened at $139.91 on Friday. The firm has a 50-day moving average price of $135.48 and a two-hundred day moving average price of $156.17. Virtus Investment Partners has a 12-month low of $121.61 and a 12-month high of $215.06. The company has a market capitalization of $934.87 million, a P/E ratio of 8.28 and a beta of 1.47. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Thursday, April 30th will be issued a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners’s dividend payout ratio is 48.02%.

About Virtus Investment Partners

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.