State of Tennessee Department of Treasury Has $1.48 Million Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

State of Tennessee Department of Treasury grew its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 52.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,716 shares of the closed-end fund's stock after buying an additional 2,308 shares during the period. State of Tennessee Department of Treasury owned 0.10% of Virtus Investment Partners worth $1,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRTS. Charles Schwab Investment Management Inc. increased its position in Virtus Investment Partners by 8.4% in 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. JPMorgan Chase & Co. lifted its stake in Virtus Investment Partners by 8.7% in 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 period. American Century Companies Inc. boosted its holdings 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 buying an additional 20,544 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Virtus Investment Partners by 4.7% during the 4th quarter. Fisher Asset Management LLC now owns 71,600 shares of the closed-end fund's stock worth $15,794,000 after buying an additional 3,224 shares during the period. Finally, Norges Bank bought a new stake in shares of Virtus Investment Partners in the 4th quarter valued at about $9,503,000. Institutional investors own 80.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. TD Cowen reduced their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. StockNews.com cut shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Morgan Stanley reduced their target price 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. Finally, Barclays set a $150.00 target price on Virtus Investment Partners and gave the company an "underweight" rating in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $179.25.

Virtus Investment Partners Stock Up 0.3 %

VRTS traded up $0.53 during trading on Monday, hitting $159.76. The company had a trading volume of 1,723 shares, compared to its average volume of 45,022. The company has a market capitalization of $1.11 billion, a PE ratio of 9.45 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, Inc. has a one year low of $142.18 and a one year high of $252.82. The firm's 50-day moving average price is $165.33 and its 200 day moving average price is $200.14.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 earnings per share for the quarter, topping the consensus estimate of $5.68 by $0.05. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. The company had revenue of $217.93 million during the quarter, compared to analysts' expectations of $201.99 million. During the same period in the prior year, the firm earned $5.41 earnings per share. As a group, equities analysts expect that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current year.

Virtus Investment Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio (DPR) is currently 53.41%.

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.