The Manufacturers Life Insurance Company Has $719,000 Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

The Manufacturers Life Insurance Company cut its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,434 shares of the closed-end fund’s stock after selling 62 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Virtus Investment Partners were worth $719,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in Virtus Investment Partners by 6,550.0% in the second quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock valued at $33,000 after purchasing an additional 131 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Virtus Investment Partners in the second quarter valued at about $42,000. nVerses Capital LLC bought a new position in Virtus Investment Partners in the third quarter valued at about $42,000. CWM LLC raised its position in shares of Virtus Investment Partners by 334.1% during the second quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock worth $86,000 after acquiring an additional 294 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Virtus Investment Partners in the second quarter worth approximately $164,000. 80.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on VRTS. Morgan Stanley lifted their price objective on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Piper Sandler boosted their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Barclays boosted their price target on Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. Two equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $244.25.

Virtus Investment Partners Price Performance

Shares of VRTS opened at $241.67 on Friday. Virtus Investment Partners, Inc. has a 52-week low of $190.42 and a 52-week high of $263.39. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The business’s 50 day moving average price is $230.83 and its two-hundred day moving average price is $221.08. The firm has a market cap of $1.70 billion, a PE ratio of 14.69 and a beta of 1.46.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 3.72%. Virtus Investment Partners’s dividend payout ratio is 54.71%.

Virtus Investment Partners 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.