Mackenzie Financial Corp Has $774,000 Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Mackenzie Financial Corp boosted its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 174.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,511 shares of the closed-end fund's stock after acquiring an additional 2,233 shares during the quarter. Mackenzie Financial Corp owned about 0.05% of Virtus Investment Partners worth $774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Virtus Investment Partners during the 4th quarter worth about $9,503,000. Charles Schwab Investment Management Inc. boosted 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 worth $61,074,000 after purchasing an additional 21,344 shares during the period. American Century Companies Inc. boosted its position in Virtus Investment Partners by 33.6% during the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock worth $18,030,000 after purchasing an additional 20,544 shares during the period. Zacks Investment Management acquired a new position in shares of Virtus Investment Partners during the fourth quarter worth approximately $3,124,000. Finally, JPMorgan Chase & Co. lifted its holdings 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 worth $34,858,000 after buying an additional 12,642 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays set a $150.00 price target on Virtus Investment Partners and gave the stock an "underweight" rating in a report on Monday, April 28th. Morgan Stanley upped their price target on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an "underweight" rating in a report on Tuesday, May 6th. TD Cowen cut their price target on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Piper Sandler cut their price target on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $167.75.

Virtus Investment Partners Price Performance

NASDAQ:VRTS traded down $0.64 during trading hours on Thursday, reaching $168.83. The company had a trading volume of 148,643 shares, compared to its average volume of 42,139. The stock has a 50-day moving average of $162.05 and a two-hundred day moving average of $191.15. Virtus Investment Partners, Inc. has a one year low of $142.18 and a one year high of $252.82. The firm has a market capitalization of $1.17 billion, a PE ratio of 9.99 and a beta of 1.47. 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 (NASDAQ:VRTS - Get Free Report) last announced its earnings results on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, topping the consensus estimate of $5.68 by $0.05. The company had revenue of $217.93 million for the quarter, compared to analysts' expectations of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same quarter in the prior year, the business earned $5.41 earnings per share. Analysts forecast that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current year.

Virtus Investment Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Thursday, July 31st. Virtus Investment Partners's dividend payout ratio is 53.41%.

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.