SG Americas Securities LLC Takes Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

SG Americas Securities LLC purchased a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,698 shares of the closed-end fund’s stock, valued at approximately $375,000.

Other large investors have also recently made changes to their positions in the company. Private Client Services LLC purchased a new stake in Virtus Investment Partners in the 4th quarter valued at $799,000. Everence Capital Management Inc. acquired a new position in Virtus Investment Partners during the 4th quarter worth about $203,000. JPMorgan Chase & Co. raised its position in Virtus Investment Partners by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock valued at $30,451,000 after purchasing an additional 3,651 shares in the last quarter. Geode Capital Management LLC raised its position in Virtus Investment Partners by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock valued at $31,702,000 after purchasing an additional 821 shares in the last quarter. Finally, Barclays PLC raised its position in Virtus Investment Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 14,119 shares of the closed-end fund’s stock valued at $2,957,000 after purchasing an additional 9,488 shares in the last quarter. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Virtus Investment Partners Stock Performance

NASDAQ:VRTS opened at $196.47 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The firm has a 50-day moving average of $223.79 and a two-hundred day moving average of $218.56. The stock has a market cap of $1.38 billion, a P/E ratio of 11.63 and a beta of 1.47. Virtus Investment Partners, Inc. has a 1-year low of $190.42 and a 1-year high of $263.39.

Virtus Investment Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.58%. Virtus Investment Partners’s payout ratio is 53.25%.

Wall Street Analyst Weigh In

VRTS has been the topic of a number of research reports. Piper Sandler dropped their price target on Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Barclays decreased their price target on Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday. Morgan Stanley upped their target price on Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Finally, StockNews.com downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $233.25.

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.