Virtus Investment Partners (NASDAQ:VRTS) Price Target Cut to $258.00 by Analysts at Piper Sandler

Virtus Investment Partners (NASDAQ:VRTS) had its target price trimmed by Piper Sandler from $274.00 to $258.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the closed-end fund’s stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley upped their price target on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Barclays reduced their target price on shares of Virtus Investment Partners from $239.00 to $221.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $238.50.

Virtus Investment Partners Price Performance

NASDAQ VRTS opened at $210.74 on Tuesday. Virtus Investment Partners has a 52 week low of $190.42 and a 52 week high of $263.39. The firm has a market capitalization of $1.48 billion, a P/E ratio of 12.81 and a beta of 1.48. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $230.10 and a 200-day moving average price of $220.26.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 54.71%.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently added to or reduced their stakes in VRTS. Quarry LP grew its holdings in Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after buying an additional 101 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Virtus Investment Partners during the 2nd quarter valued at approximately $42,000. nVerses Capital LLC purchased a new stake in Virtus Investment Partners during the 3rd quarter valued at approximately $42,000. Blue Trust Inc. grew its holdings in Virtus Investment Partners by 138.3% during the 3rd quarter. Blue Trust Inc. now owns 317 shares of the closed-end fund’s stock valued at $72,000 after buying an additional 184 shares in the last quarter. Finally, Point72 DIFC Ltd grew its holdings in Virtus Investment Partners by 57.2% during the 3rd 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 owned by hedge funds and other institutional investors.

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.