Victory Capital Management Inc. Raises Stock Holdings in Virtus Investment Partners, Inc. $VRTS

Key Points

• Victory Capital Management boosted its stake in Virtus Investment Partners by 109.4% in Q3 to 229,357 shares, equal to about 3.40% ownership and roughly $43.6 million in value.
• The firm declared a quarterly dividend of $2.40 (annualized $9.60), implying a 7.1% yield, payable May 13 with record/ex-dividend dates on April 30.
• Analyst sentiment is mixed but leans negative: the consensus rating is "Reduce" with a $169 consensus target, and individual ratings range from Buy to Sell.

Victory Capital Management Inc. boosted its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 109.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 229,357 shares of the closed-end fund's stock after acquiring an additional 119,802 shares during the quarter. Victory Capital Management Inc. owned about 3.40% of Virtus Investment Partners worth $43,585,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NBT Bank N A NY raised its stake in shares of Virtus Investment Partners by 1,483.3% in the third quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund's stock worth $36,000 after purchasing an additional 178 shares during the last quarter. Osaic Holdings Inc. boosted its position in Virtus Investment Partners by 90.4% in the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund's stock valued at $57,000 after buying an additional 150 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Virtus Investment Partners in the 2nd quarter worth approximately $147,000. Oxford Asset Management LLP acquired a new position in Virtus Investment Partners in the 2nd quarter worth approximately $217,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its position in Virtus Investment Partners by 16.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,477 shares of the closed-end fund's stock worth $281,000 after buying an additional 213 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Virtus Investment Partners from $168.00 to $155.00 and set an "underweight" rating for the company in a research note on Tuesday, February 3rd. Piper Sandler cut their price objective on shares of Virtus Investment Partners from $218.00 to $206.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 4th. TD Cowen reduced their target price on shares of Virtus Investment Partners from $180.00 to $173.00 and set a "hold" rating for the company in a report on Wednesday, January 14th. Barclays restated an "underweight" rating and set a $142.00 target price on shares of Virtus Investment Partners in a research report on Monday, February 9th. Finally, Zacks Research raised Virtus Investment Partners from a "strong sell" rating to a "hold" rating in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Virtus Investment Partners presently has an average rating of "Reduce" and a consensus target price of $169.00.

Virtus Investment Partners Price Performance

Shares of NASDAQ VRTS opened at $134.49 on Friday. The stock has a market capitalization of $900.41 million, a price-to-earnings ratio of 7.96 and a beta of 1.47. Virtus Investment Partners, Inc. has a 12 month low of $131.87 and a 12 month high of $215.06. The firm's 50 day simple moving average is $154.99 and its 200-day simple moving average is $169.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be paid a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Thursday, April 30th. Virtus Investment Partners's payout ratio is currently 48.02%.

Virtus Investment Partners Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.