Connor Clark & Lunn Investment Management Ltd. Invests $659,000 in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,987 shares of the closed-end fund’s stock, valued at approximately $659,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in Virtus Investment Partners by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock worth $61,074,000 after acquiring an additional 21,344 shares in the last quarter. Basswood Capital Management L.L.C. boosted its holdings in Virtus Investment Partners by 12.4% during the third quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock worth $23,129,000 after buying an additional 12,193 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Virtus Investment Partners by 57.1% in the third quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock valued at $5,481,000 after purchasing an additional 9,508 shares in the last quarter. Barclays PLC raised its position in shares of Virtus Investment Partners by 204.9% in the third quarter. Barclays PLC now owns 14,119 shares of the closed-end fund’s stock valued at $2,957,000 after buying an additional 9,488 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Virtus Investment Partners by 592.0% in the third quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund’s stock valued at $1,931,000 after buying an additional 7,886 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Performance

Shares of VRTS opened at $174.74 on Friday. The company’s 50 day moving average price is $190.08 and its 200 day moving average price is $210.83. Virtus Investment Partners, Inc. has a 52 week low of $167.13 and a 52 week high of $263.39. The company has a market capitalization of $1.22 billion, a PE ratio of 10.34 and a beta of 1.49. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.25%.

Wall Street Analysts Forecast Growth

VRTS has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a report on Thursday, February 6th. Piper Sandler cut their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Barclays dropped their price target 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. Finally, StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Virtus Investment Partners presently has a consensus rating of “Hold” and a consensus price target of $225.75.

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.