Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 276,880 shares of the closed-end fund’s stock after purchasing an additional 21,344 shares during the period. Charles Schwab Investment Management Inc. owned 3.94% of Virtus Investment Partners worth $61,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Virtus Investment Partners by 0.5% during the third quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock worth $31,702,000 after purchasing an additional 821 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Virtus Investment Partners by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock worth $30,451,000 after buying an additional 3,651 shares during the period. Basswood Capital Management L.L.C. boosted its stake in Virtus Investment Partners by 12.4% during the third quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock worth $23,129,000 after buying an additional 12,193 shares during the period. Victory Capital Management Inc. boosted its stake in Virtus Investment Partners by 1.0% during the third quarter. Victory Capital Management Inc. now owns 98,626 shares of the closed-end fund’s stock worth $20,657,000 after buying an additional 947 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Virtus Investment Partners by 4.7% during the fourth quarter. Fisher Asset Management LLC now owns 71,600 shares of the closed-end fund’s stock worth $15,794,000 after buying an additional 3,224 shares during the period. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Trading Down 1.7 %

NASDAQ VRTS opened at $172.87 on Thursday. The firm has a 50 day simple moving average of $196.66 and a 200-day simple moving average of $212.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a one year low of $170.14 and a one year high of $263.39. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 10.23 and a beta of 1.49.

Virtus Investment Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a yield of 5.21%. Virtus Investment Partners’s dividend payout ratio is currently 53.25%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays lowered 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 note on Monday, February 3rd. Morgan Stanley lowered their target price on shares of 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 lowered their target price on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.