Virtus Investment Partners (NASDAQ:VRTS) Sees Strong Trading Volume – What’s Next?

Virtus Investment Partners, Inc. (NASDAQ:VRTS) shares saw unusually-high trading volume on Monday . Approximately 98,755 shares traded hands during mid-day trading, an increase of 148% from the previous session’s volume of 39,777 shares.The stock last traded at $152.79 and had previously closed at $161.76.

Analyst Ratings Changes

A number of brokerages recently issued reports on VRTS. Morgan Stanley decreased their target price on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Barclays cut their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday, February 3rd. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Piper Sandler dropped 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 research note on Tuesday, January 21st. Two investment 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 has a consensus rating of “Hold” and an average target price of $225.75.

Virtus Investment Partners Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The stock has a 50-day moving average price of $181.53 and a 200 day moving average price of $208.49. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 8.88 and a beta of 1.36.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 6.00%. Virtus Investment Partners’s dividend payout ratio is currently 53.25%.

Institutional Investors Weigh In On Virtus Investment Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. raised its holdings in shares of Virtus Investment Partners by 2,902.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,423 shares of the closed-end fund’s stock worth $763,000 after buying an additional 3,309 shares in the last quarter. Jane Street Group LLC lifted its holdings in Virtus Investment Partners by 592.0% during the 3rd quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund’s stock worth $1,931,000 after buying an additional 7,886 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Virtus Investment Partners by 17.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,818 shares of the closed-end fund’s stock valued at $1,074,000 after acquiring an additional 733 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Virtus Investment Partners by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock worth $30,451,000 after buying an additional 3,651 shares during the last quarter. Finally, Private Client Services LLC acquired a new position in shares of Virtus Investment Partners in the 4th quarter valued at about $799,000. Institutional investors and hedge funds own 80.52% of the company’s stock.

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.