JPMorgan Chase & Co. Has $30.45 Million Stock Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

JPMorgan Chase & Co. boosted its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,386 shares of the closed-end fund’s stock after buying an additional 3,651 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.07% of Virtus Investment Partners worth $30,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of VRTS. Los Angeles Capital Management LLC boosted its position in Virtus Investment Partners by 2.3% during the second quarter. Los Angeles Capital Management LLC now owns 3,717 shares of the closed-end fund’s stock valued at $839,000 after purchasing an additional 85 shares during the last quarter. Quarry LP raised its stake 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 purchasing an additional 101 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Virtus Investment Partners by 7.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,852 shares of the closed-end fund’s stock valued at $412,000 after buying an additional 124 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Virtus Investment Partners by 11.9% in the 3rd quarter. QRG Capital Management Inc. now owns 1,174 shares of the closed-end fund’s stock valued at $246,000 after buying an additional 125 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Virtus Investment Partners by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 3,496 shares of the closed-end fund’s stock worth $790,000 after buying an additional 135 shares during the last quarter. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Virtus Investment Partners Price Performance

NASDAQ VRTS opened at $214.26 on Wednesday. Virtus Investment Partners, Inc. has a 1 year low of $190.42 and a 1 year high of $263.39. The company has a fifty day simple moving average of $233.43 and a 200 day simple moving average of $221.23. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.50 billion, a P/E ratio of 13.02 and a beta of 1.48.

Virtus Investment Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders 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 yield of 4.20%. The ex-dividend date is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is 54.71%.

Analyst Upgrades and Downgrades

VRTS has been the subject of a number of analyst reports. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Morgan Stanley lifted their price objective on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Piper Sandler increased their target price on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Barclays boosted their price target on Virtus Investment Partners from $212.00 to $239.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. 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. According to MarketBeat, Virtus Investment Partners currently has a consensus rating of “Hold” and an average target price of $247.00.

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.