Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 8.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,177 shares of the closed-end fund’s stock after selling 200 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Virtus Investment Partners were worth $456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Virtus Investment Partners by 6,550.0% during the 2nd quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock valued at $33,000 after acquiring an additional 131 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Virtus Investment Partners during the 2nd quarter worth approximately $42,000. nVerses Capital LLC acquired a new position in shares of Virtus Investment Partners during the 3rd quarter worth approximately $42,000. Bessemer Group Inc. acquired a new position in shares of Virtus Investment Partners during the 1st quarter worth approximately $57,000. Finally, EntryPoint Capital LLC raised its position in shares of Virtus Investment Partners by 625.6% during the 1st quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after purchasing an additional 269 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRTS shares. Barclays started coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price objective for the company. TD Cowen cut their price objective on Virtus Investment Partners from $250.00 to $247.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Morgan Stanley lifted their price objective on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Finally, Piper Sandler lowered their target price on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $233.50.

Virtus Investment Partners Stock Up 0.3 %

Shares of NASDAQ VRTS opened at $217.06 on Friday. Virtus Investment Partners, Inc. has a 52-week low of $187.79 and a 52-week high of $263.39. The firm has a fifty day moving average of $209.37 and a 200-day moving average of $218.58. The stock has a market capitalization of $1.54 billion, a PE ratio of 13.20 and a beta of 1.45. The company has a quick ratio of 15.18, a current ratio of 15.18 and a debt-to-equity ratio of 0.28.

Virtus Investment Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, October 31st. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. This represents a $9.00 annualized dividend and a dividend yield of 4.15%. Virtus Investment Partners’s payout ratio is currently 54.71%.

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.