Dimensional Fund Advisors LP Purchases 7,987 Shares of Virtus Investment Partners, Inc. $VRTS

Key Points

• Dimensional Fund Advisors increased its Virtus Investment Partners stake by 2.7%, purchasing 7,987 shares to own 305,115 shares valued at approximately $41.0 million, or 4.57% of the company. Institutional investors collectively own 80.52% of VRTS.
• Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $145.50; recent ratings include two sells, two holds, and one buy.
• Virtus shares recently traded at $170.04, while the company declared a quarterly dividend of $2.40 per share, equal to a 5.6% annualized yield and a 54.7% payout ratio.

Dimensional Fund Advisors LP grew its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,115 shares of the closed-end fund's stock after purchasing an additional 7,987 shares during the quarter. Dimensional Fund Advisors LP owned about 4.57% of Virtus Investment Partners worth $40,990,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of VRTS. Illinois Municipal Retirement Fund lifted its stake in shares of Virtus Investment Partners by 2.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 3,446 shares of the closed-end fund's stock valued at $463,000 after buying an additional 77 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Virtus Investment Partners by 24.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund's stock valued at $81,000 after buying an additional 97 shares in the last quarter. New York State Teachers Retirement System grew its stake in Virtus Investment Partners by 1.9% in the 4th quarter. New York State Teachers Retirement System now owns 5,401 shares of the closed-end fund's stock valued at $881,000 after buying an additional 100 shares in the last quarter. Swiss National Bank raised its holdings in Virtus Investment Partners by 0.8% during the 3rd quarter. Swiss National Bank now owns 12,700 shares of the closed-end fund's stock valued at $2,413,000 after acquiring an additional 100 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Virtus Investment Partners by 2.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund's stock valued at $681,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 80.52% of the company's stock.

Wall Street Analysts Forecast Growth

VRTS has been the subject of a number of analyst reports. Barclays cut their price target on Virtus Investment Partners from $141.00 to $135.00 and set an "underweight" rating for the company in a report on Friday. Morgan Stanley reiterated an "underweight" rating and set a $130.00 price objective on shares of Virtus Investment Partners in a research note on Wednesday, July 29th. Piper Sandler dropped their price objective on Virtus Investment Partners from $181.00 to $170.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Finally, TD Cowen raised their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a "hold" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Virtus Investment Partners presently has a consensus rating of "Reduce" and an average target price of $145.50.

Virtus Investment Partners Trading Up 6.7%

Virtus Investment Partners stock opened at $170.04 on Tuesday. The stock has a market cap of $1.14 billion, a P/E ratio of 10.06 and a beta of 1.38. Virtus Investment Partners, Inc. has a fifty-two week low of $121.61 and a fifty-two week high of $203.61. The firm's fifty day moving average price is $151.97 and its 200-day moving average price is $145.85. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be given a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, July 31st. Virtus Investment Partners's payout ratio is presently 54.70%.

Virtus Investment Partners Profile

Virtus Investment Partners NASDAQ: VRTS is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company's product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.

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