Virtus Investment Partners (NASDAQ:VRTS) Price Target Raised to $228.00

Virtus Investment Partners (NASDAQ:VRTS) had its target price boosted by Morgan Stanley from $224.00 to $228.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the closed-end fund’s stock.

VRTS has been the subject of several other reports. Barclays increased their price target on Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Piper Sandler raised their target price on Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a report on Wednesday, November 27th. Finally, StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Two equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $247.00.

Virtus Investment Partners Price Performance

VRTS opened at $221.00 on Friday. Virtus Investment Partners has a 52-week low of $190.42 and a 52-week high of $263.39. The company has a 50 day moving average of $232.90 and a two-hundred day moving average of $220.96. The company has a market cap of $1.55 billion, a P/E ratio of 13.43 and a beta of 1.46. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Dividend Announcement

The firm also recently disclosed 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 4.07%. Virtus Investment Partners’s dividend payout ratio is presently 54.71%.

Hedge Funds Weigh In On Virtus Investment Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its holdings in Virtus Investment Partners by 388.5% in the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Virtus Investment Partners by 6,550.0% in the 2nd quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Virtus Investment Partners during the second quarter worth about $42,000. nVerses Capital LLC acquired a new position in Virtus Investment Partners in the third quarter worth about $42,000. Finally, Point72 DIFC Ltd increased its holdings in Virtus Investment Partners by 57.2% in the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock valued at $128,000 after buying an additional 222 shares during the last quarter. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

About Virtus Investment Partners

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.