Virtus Investment Partners (NASDAQ:VRTS) Price Target Lowered to $149.00 at Barclays

Virtus Investment Partners (NASDAQ:VRTS - Free Report) had its target price lowered by Barclays from $200.00 to $149.00 in a research report report published on Wednesday morning, MarketBeat.com reports. Barclays currently has an underweight rating on the closed-end fund's stock.

A number of other equities research analysts also recently issued reports on the company. StockNews.com upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd. Piper Sandler decreased their target price on shares of Virtus Investment Partners from $252.00 to $216.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley lowered their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating for the company in a report on Thursday, February 6th. Finally, TD Cowen cut their target price on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $179.00.

Virtus Investment Partners Price Performance

VRTS traded down $4.63 during trading on Wednesday, reaching $144.33. 9,349 shares of the company were exchanged, compared to its average volume of 40,161. The company's 50-day moving average is $171.37 and its two-hundred day moving average is $204.20. Virtus Investment Partners has a 12-month low of $143.70 and a 12-month high of $252.82. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 8.54 and a beta of 1.36. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 6.24%. Virtus Investment Partners's dividend payout ratio (DPR) is presently 53.25%.

Institutional Investors Weigh In On Virtus Investment Partners

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Virtus Investment Partners by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock valued at $61,074,000 after buying an additional 21,344 shares during the period. JPMorgan Chase & Co. raised its position in shares of Virtus Investment Partners by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund's stock valued at $34,858,000 after buying an additional 12,642 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Virtus Investment Partners by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund's stock valued at $31,702,000 after purchasing an additional 821 shares during the last quarter. Northern Trust Corp boosted its position in shares of Virtus Investment Partners by 10.2% during the 4th quarter. Northern Trust Corp now owns 106,104 shares of the closed-end fund's stock valued at $23,404,000 after acquiring an additional 9,793 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Virtus Investment Partners by 33.6% in the 4th quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock worth $18,030,000 after buying an additional 20,544 shares in the last quarter. 80.52% of the stock is currently owned by hedge funds and other 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.