Exchange Traded Concepts LLC Boosts Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Exchange Traded Concepts LLC raised its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,098 shares of the closed-end fund’s stock after buying an additional 268 shares during the quarter. Exchange Traded Concepts LLC owned about 0.07% of Virtus Investment Partners worth $1,125,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Virtus Investment Partners by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock valued at $53,522,000 after purchasing an additional 16,586 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Virtus Investment Partners by 0.5% in 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. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 3,651 shares during the last quarter. WCM Investment Management LLC grew its position in Virtus Investment Partners by 4.0% in the third quarter. WCM Investment Management LLC now owns 113,892 shares of the closed-end fund’s stock worth $23,670,000 after acquiring an additional 4,359 shares in the last quarter. Finally, Basswood Capital Management L.L.C. increased its stake in Virtus Investment Partners by 12.4% during the third quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock worth $23,129,000 after acquiring an additional 12,193 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays lowered their price objective on Virtus Investment Partners from $239.00 to $221.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. 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. Piper Sandler lowered 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. Finally, StockNews.com downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $238.50.

Virtus Investment Partners Stock Up 0.7 %

NASDAQ:VRTS opened at $210.22 on Tuesday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.78 and a beta of 1.48. 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 $227.12 and a 200-day simple moving average of $219.73.

Virtus Investment Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be given a $2.25 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $9.00 annualized dividend and a yield of 4.28%. Virtus Investment Partners’s dividend payout ratio (DPR) is 54.71%.

Virtus Investment Partners 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.