Private Client Services LLC Takes Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Private Client Services LLC bought a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,622 shares of the closed-end fund’s stock, valued at approximately $799,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Everence Capital Management Inc. purchased a new position in shares of Virtus Investment Partners during the fourth quarter worth about $203,000. JPMorgan Chase & Co. boosted its position in shares of Virtus Investment Partners by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock valued at $30,451,000 after purchasing an additional 3,651 shares during the period. Geode Capital Management LLC grew its stake in Virtus Investment Partners by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock worth $31,702,000 after buying an additional 821 shares during the last quarter. Barclays PLC increased its position in Virtus Investment Partners by 204.9% during the third quarter. Barclays PLC now owns 14,119 shares of the closed-end fund’s stock worth $2,957,000 after buying an additional 9,488 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in Virtus Investment Partners by 59.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,223 shares of the closed-end fund’s stock valued at $466,000 after buying an additional 828 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VRTS shares. Morgan Stanley raised their target price on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Piper Sandler raised their price objective on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Barclays lifted their price objective on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. Finally, StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $247.00.

Virtus Investment Partners Stock Performance

NASDAQ:VRTS traded down $0.84 during midday trading on Wednesday, reaching $213.62. The stock had a trading volume of 9,432 shares, compared to its average volume of 32,321. 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 stock has a market cap of $1.50 billion, a P/E ratio of 12.99 and a beta of 1.48. The firm has a fifty day simple moving average of $233.43 and a two-hundred day simple moving average of $221.23. Virtus Investment Partners, Inc. has a 12-month low of $190.42 and a 12-month high of $263.39.

Virtus Investment Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s payout ratio is 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.