State Street Corp Sells 12,410 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

State Street Corp cut its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 4.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 297,151 shares of the closed-end fund’s stock after selling 12,410 shares during the period. State Street Corp’s holdings in Virtus Investment Partners were worth $62,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in VRTS. Quarry LP lifted its holdings in Virtus Investment Partners by 388.5% during the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 101 shares during the last quarter. Blue Trust Inc. lifted its stake 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 buying an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Virtus Investment Partners in the 2nd quarter worth approximately $42,000. nVerses Capital LLC purchased a new position in Virtus Investment Partners in the 3rd quarter valued at approximately $42,000. Finally, Point72 DIFC Ltd raised 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 acquiring an additional 222 shares during the period. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Shares of NASDAQ VRTS opened at $220.92 on Thursday. The stock’s 50-day simple moving average is $232.12 and its two-hundred day simple moving average is $221.11. Virtus Investment Partners, Inc. has a twelve month low of $190.42 and a twelve month high of $263.39. The firm has a market capitalization of $1.55 billion, a P/E ratio of 13.43 and a beta of 1.46. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio is currently 54.71%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VRTS. Piper Sandler lifted their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday. Barclays upped their price target on Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Finally, Morgan Stanley raised their price objective on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $244.25.

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.