Zacks Investment Management Makes New Investment in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Zacks Investment Management purchased a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 14,165 shares of the closed-end fund's stock, valued at approximately $3,124,000. Zacks Investment Management owned approximately 0.20% of Virtus Investment Partners as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Smartleaf Asset Management LLC grew its position in shares of Virtus Investment Partners by 170.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock worth $44,000 after purchasing an additional 126 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Virtus Investment Partners during the fourth quarter valued at $75,000. KBC Group NV increased its holdings in Virtus Investment Partners by 61.2% during the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund's stock worth $87,000 after purchasing an additional 150 shares during the period. Everence Capital Management Inc. purchased a new stake in Virtus Investment Partners in the fourth quarter worth about $203,000. Finally, Trexquant Investment LP bought a new position in Virtus Investment Partners in the fourth quarter worth approximately $209,000. 80.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRTS has been the subject of a number of research analyst reports. Piper Sandler decreased their price target on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. StockNews.com raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd. Morgan Stanley reduced their price target 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. TD Cowen decreased their price objective on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays reduced their price target on shares of Virtus Investment Partners from $200.00 to $149.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Virtus Investment Partners currently has a consensus rating of "Hold" and a consensus price target of $179.00.

Virtus Investment Partners Price Performance

Shares of VRTS traded up $5.09 on Wednesday, reaching $155.50. The stock had a trading volume of 7,285 shares, compared to its average volume of 40,146. 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 firm has a market capitalization of $1.08 billion, a PE ratio of 9.20 and a beta of 1.36. Virtus Investment Partners, Inc. has a twelve month low of $142.18 and a twelve month high of $252.82. The firm has a 50-day moving average of $169.90 and a 200 day moving average of $203.37.

Virtus Investment Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a yield of 5.79%. Virtus Investment Partners's payout ratio is 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.