Franklin Resources Inc. Sells 1,546 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Franklin Resources Inc. decreased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 13.6% in the third quarter, HoldingsChannel reports. The firm owned 9,816 shares of the closed-end fund’s stock after selling 1,546 shares during the quarter. Franklin Resources Inc.’s holdings in Virtus Investment Partners were worth $2,089,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd purchased a new stake in Virtus Investment Partners during the second quarter valued at $6,776,000. AQR Capital Management LLC increased its holdings in shares of Virtus Investment Partners by 78.1% in the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the closed-end fund’s stock worth $11,508,000 after buying an additional 22,344 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Virtus Investment Partners by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock valued at $53,522,000 after buying an additional 16,586 shares in the last quarter. Basswood Capital Management L.L.C. lifted its holdings in shares of Virtus Investment Partners by 12.4% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock valued at $23,129,000 after acquiring an additional 12,193 shares during the last quarter. Finally, Algert Global LLC grew its position in Virtus Investment Partners by 57.1% in the third quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock worth $5,481,000 after acquiring an additional 9,508 shares in the last quarter. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Price Performance

Shares of VRTS stock opened at $225.60 on Friday. Virtus Investment Partners, Inc. has a twelve month low of $190.42 and a twelve month high of $263.39. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $233.18 and a two-hundred day simple moving average of $220.98. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 13.71 and a beta of 1.46.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is 54.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VRTS. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Morgan Stanley boosted their price objective 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 raised their target price on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the stock an “underweight” rating in a report on Monday, December 9th. Finally, Piper Sandler upped their price target on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $247.00.

About Virtus Investment Partners

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.