Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 17.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,818 shares of the closed-end fund’s stock after acquiring an additional 733 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of Virtus Investment Partners worth $1,074,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP raised its position in Virtus Investment Partners by 388.5% in the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 101 shares during the period. nVerses Capital LLC acquired a new position in shares of Virtus Investment Partners in the third quarter worth about $42,000. Blue Trust Inc. lifted its stake in shares of Virtus Investment Partners by 138.3% in the third quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock worth $72,000 after acquiring an additional 184 shares in the last quarter. R Squared Ltd purchased a new position in Virtus Investment Partners in the fourth quarter valued at about $75,000. Finally, KBC Group NV grew its stake in Virtus Investment Partners by 61.2% during the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock valued at $87,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Virtus Investment Partners Stock Up 1.7 %

VRTS stock opened at $188.63 on Wednesday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 11.16 and a beta of 1.47. Virtus Investment Partners, Inc. has a 1-year low of $183.17 and a 1-year high of $263.39. The firm has a fifty day moving average price of $216.99 and a two-hundred day moving average price of $216.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio is presently 53.25%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley reduced their target price on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Barclays dropped their target price on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $225.75.

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.