Virtus Investment Partners (NASDAQ:VRTS) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a buy rating in a research report sent to investors on Monday.

A number of other equities research analysts also recently weighed in on the stock. Barclays boosted their price target on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the stock an “underweight” rating in a research note on Monday, December 9th. Morgan Stanley upped their target price 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. Finally, Piper Sandler raised their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $244.25.

Virtus Investment Partners Price Performance

Shares of VRTS stock opened at $239.17 on Monday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 14.54 and a beta of 1.46. Virtus Investment Partners has a 12 month low of $190.42 and a 12 month high of $263.39. 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 stock has a 50-day moving average price of $231.51 and a 200 day moving average price of $221.07.

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 issued a dividend of $2.25 per share. The ex-dividend date is Friday, January 31st. This represents a $9.00 annualized dividend and a yield of 3.76%. Virtus Investment Partners’s dividend payout ratio is presently 54.71%.

Institutional Investors Weigh In On Virtus Investment Partners

Several large investors have recently modified their holdings of VRTS. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Virtus Investment Partners during the second quarter worth about $6,776,000. AQR Capital Management LLC raised its holdings in shares of Virtus Investment Partners by 78.1% in the second quarter. AQR Capital Management LLC now owns 50,952 shares of the closed-end fund’s stock valued at $11,508,000 after purchasing an additional 22,344 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 during the last quarter. Basswood Capital Management L.L.C. grew 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 in the last quarter. Finally, Algert Global LLC raised its stake in shares of Virtus Investment Partners by 57.1% during the 3rd quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock worth $5,481,000 after purchasing an additional 9,508 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors.

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.