Integrated Wealth Concepts LLC Has $302,000 Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Integrated Wealth Concepts LLC cut its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,442 shares of the closed-end fund’s stock after selling 196 shares during the period. Integrated Wealth Concepts LLC’s holdings in Virtus Investment Partners were worth $302,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTS. Dimensional Fund Advisors LP increased its position in Virtus Investment Partners by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 328,067 shares of the closed-end fund’s stock valued at $74,092,000 after acquiring an additional 8,393 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Virtus Investment Partners by 6.9% during 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 buying an additional 16,586 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of 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 buying an additional 4,359 shares during the period. Basswood Capital Management L.L.C. grew its position 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 worth $23,129,000 after buying an additional 12,193 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Virtus Investment Partners by 1.0% in the third quarter. Victory Capital Management Inc. now owns 98,626 shares of the closed-end fund’s stock worth $20,657,000 after buying an additional 947 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

VRTS stock opened at $242.95 on Friday. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $230.17 and a 200 day moving average price of $221.01. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 14.77 and a beta of 1.46. Virtus Investment Partners, Inc. has a fifty-two week low of $190.42 and a fifty-two week high of $263.39.

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 dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 3.70%. Virtus Investment Partners’s payout ratio is 54.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on VRTS. Morgan Stanley lifted their target price on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Barclays increased their price objective on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research report on Monday. Piper Sandler raised their target price on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.