Barclays Cuts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $149.00

Virtus Investment Partners (NASDAQ:VRTS) had its price objective lowered by Barclays from $200.00 to $149.00 in a research report released on Wednesday, MarketBeat Ratings reports. Barclays currently has an underweight rating on the closed-end fund’s stock.

Several other equities research analysts have also issued reports on the stock. TD Cowen lowered their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lowered their target price on Virtus Investment Partners from $252.00 to $216.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley dropped their price objective 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. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Virtus Investment Partners presently has a consensus rating of “Hold” and a consensus price target of $179.00.

Virtus Investment Partners Trading Up 0.7 %

NASDAQ:VRTS opened at $149.03 on Wednesday. The company has a market cap of $1.03 billion, a P/E ratio of 8.82 and a beta of 1.36. Virtus Investment Partners has a twelve month low of $144.13 and a twelve month high of $252.82. The business has a 50 day moving average price of $172.16 and a two-hundred day moving average price of $204.59. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.25%.

Institutional Trading of Virtus Investment Partners

A number of hedge funds have recently made changes to their positions in VRTS. Norges Bank bought a new stake in Virtus Investment Partners in the 4th quarter valued at $9,503,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Virtus Investment Partners by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock valued at $61,074,000 after purchasing an additional 21,344 shares during the last quarter. American Century Companies Inc. raised its position in shares of Virtus Investment Partners by 33.6% in the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund’s stock valued at $18,030,000 after purchasing an additional 20,544 shares during the period. Zacks Investment Management acquired a new stake in shares of Virtus Investment Partners during the 4th quarter worth about $3,124,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Virtus Investment Partners by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund’s stock worth $34,858,000 after buying an additional 12,642 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.

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.