Virtus Investment Partners, Inc. (NASDAQ:VRTS) Holdings Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,085 shares of the closed-end fund’s stock after buying an additional 408 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Virtus Investment Partners were worth $849,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings 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 purchasing an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Virtus Investment Partners during the 2nd quarter valued at about $42,000. nVerses Capital LLC bought a new position in Virtus Investment Partners during the 3rd quarter valued at about $42,000. Bessemer Group Inc. bought a new position in Virtus Investment Partners during the 1st quarter valued at about $57,000. Finally, EntryPoint Capital LLC raised its stake in shares of Virtus Investment Partners by 625.6% in the first quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after acquiring an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Virtus Investment Partners Trading Up 0.3 %

VRTS stock opened at $217.06 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 13.20 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 15.18 and a current ratio of 15.18. Virtus Investment Partners, Inc. has a 52 week low of $187.79 and a 52 week high of $263.39. The company’s 50-day simple moving average is $209.37 and its 200 day simple moving average is $218.62.

Virtus Investment Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a $2.25 dividend. The ex-dividend date is Thursday, October 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio is 46.20%.

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.