KLP Kapitalforvaltning AS Takes Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

KLP Kapitalforvaltning AS acquired a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,600 shares of the closed-end fund’s stock, valued at approximately $353,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in VRTS. Quarry LP boosted 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 acquiring an additional 101 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Virtus Investment Partners by 170.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund’s stock worth $44,000 after purchasing an additional 126 shares during the last quarter. R Squared Ltd purchased a new stake in Virtus Investment Partners during the fourth quarter worth $75,000. KBC Group NV grew its holdings in Virtus Investment Partners by 61.2% in the fourth 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 during the last quarter. Finally, Point72 DIFC Ltd increased its position in shares of Virtus Investment Partners by 57.2% in the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock valued at $128,000 after buying an additional 222 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on VRTS. Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley reduced their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Barclays lowered their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, February 3rd. Finally, StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Two 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $225.75.

Virtus Investment Partners Price Performance

NASDAQ:VRTS opened at $158.16 on Friday. Virtus Investment Partners, Inc. has a 12-month low of $151.77 and a 12-month high of $252.82. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 9.36 and a beta of 1.49. The company’s 50-day moving average is $182.74 and its two-hundred day moving average is $208.88. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners’s payout ratio is 53.25%.

Virtus Investment Partners Company 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.