Virtus Investment Partners (NASDAQ:VRTS) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Several other research analysts also recently commented on VRTS. Piper Sandler lifted their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Morgan Stanley raised their price target on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Finally, Barclays upped their price objective on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $244.25.

Virtus Investment Partners Trading Down 0.2 %

Shares of NASDAQ:VRTS opened at $239.17 on Monday. Virtus Investment Partners 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 company has a market cap of $1.68 billion, a P/E ratio of 14.54 and a beta of 1.46. The stock’s 50-day moving average is $231.51 and its 200-day moving average is $221.07.

Virtus Investment Partners Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Friday, January 31st. Virtus Investment Partners’s payout ratio is 54.71%.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after buying an additional 101 shares during the period. Blue Trust Inc. grew its holdings in shares of Virtus Investment Partners by 6,550.0% in the 2nd quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 131 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Virtus Investment Partners in the 2nd quarter worth about $42,000. nVerses Capital LLC bought a new position in Virtus Investment Partners during the 3rd quarter valued at about $42,000. Finally, CWM LLC increased its holdings 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 buying an additional 294 shares in the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.

About Virtus Investment Partners

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.