Charles Schwab Investment Management Inc. Raises Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Charles Schwab Investment Management Inc. grew its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 8.4% during the fourth quarter, Holdings Channel reports. The firm owned 276,880 shares of the closed-end fund’s stock after purchasing an additional 21,344 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Virtus Investment Partners were worth $61,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTS. Victory Capital Management Inc. increased its holdings in shares of Virtus Investment Partners by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 98,626 shares of the closed-end fund’s stock valued at $20,657,000 after acquiring an additional 947 shares during the period. MQS Management LLC acquired a new position in shares of Virtus Investment Partners in the 3rd quarter valued at $227,000. Quest Partners LLC increased its holdings in shares of Virtus Investment Partners by 15.3% in the 3rd quarter. Quest Partners LLC now owns 9,555 shares of the closed-end fund’s stock valued at $2,001,000 after acquiring an additional 1,268 shares during the period. Intech Investment Management LLC increased its holdings in shares of Virtus Investment Partners by 63.0% in the 3rd quarter. Intech Investment Management LLC now owns 1,452 shares of the closed-end fund’s stock valued at $304,000 after acquiring an additional 561 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Virtus Investment Partners by 57.1% in the 3rd quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock valued at $5,481,000 after acquiring an additional 9,508 shares during the period. Institutional investors and hedge funds own 80.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on VRTS shares. Piper Sandler cut their target price on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd. Finally, Barclays dropped their price objective on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Virtus Investment Partners presently has an average rating of “Hold” and a consensus price target of $225.75.

Virtus Investment Partners Stock Performance

Shares of VRTS opened at $172.87 on Thursday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 10.23 and a beta of 1.49. Virtus Investment Partners, Inc. has a 1 year low of $170.14 and a 1 year high of $263.39. The company’s fifty day moving average is $196.66 and its two-hundred day moving average is $212.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86.

Virtus Investment Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 5.21%. Virtus Investment Partners’s payout ratio is currently 53.25%.

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.