Virtus Investment Partners (NASDAQ:VRTS) Price Target Cut to $200.00 by Analysts at Barclays

Virtus Investment Partners (NASDAQ:VRTS) had its price objective reduced by Barclays from $221.00 to $200.00 in a research report report published on Monday,Benzinga reports. They currently have an underweight rating on the closed-end fund’s stock.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley boosted their price target on Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. StockNews.com downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Piper Sandler reduced their target price on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $233.25.

Virtus Investment Partners Stock Performance

VRTS stock opened at $194.61 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. Virtus Investment Partners has a 1 year low of $190.42 and a 1 year high of $263.39. The company has a market cap of $1.37 billion, a P/E ratio of 11.52 and a beta of 1.47. The stock’s fifty day moving average price is $221.69 and its 200-day moving average price is $218.07.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be given a dividend of $2.25 per share. The ex-dividend date is Friday, January 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.62%. Virtus Investment Partners’s payout ratio is currently 53.25%.

Hedge Funds Weigh In On Virtus Investment Partners

Hedge funds have recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of Virtus Investment Partners by 7.7% during the 2nd quarter. Sei Investments Co. now owns 2,424 shares of the closed-end fund’s stock valued at $548,000 after buying an additional 174 shares in the last quarter. Bank of Montreal Can raised its holdings in Virtus Investment Partners by 413.6% during the second quarter. Bank of Montreal Can now owns 4,165 shares of the closed-end fund’s stock valued at $959,000 after acquiring an additional 3,354 shares during the period. Squarepoint Ops LLC raised its holdings in Virtus Investment Partners by 37.3% during the second quarter. Squarepoint Ops LLC now owns 2,461 shares of the closed-end fund’s stock valued at $556,000 after acquiring an additional 668 shares during the period. Millennium Management LLC lifted its position in shares of Virtus Investment Partners by 14.6% in the second quarter. Millennium Management LLC now owns 28,113 shares of the closed-end fund’s stock valued at $6,349,000 after acquiring an additional 3,589 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Virtus Investment Partners by 4.0% in the second quarter. The Manufacturers Life Insurance Company now owns 3,496 shares of the closed-end fund’s stock worth $790,000 after acquiring an additional 135 shares during the period. 80.52% of the stock is currently owned by 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.