Charles Schwab Investment Management Inc. Grows Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Charles Schwab Investment Management Inc. grew its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 255,536 shares of the closed-end fund’s stock after purchasing an additional 16,586 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Virtus Investment Partners were worth $53,522,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in Virtus Investment Partners by 3.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,377 shares of the closed-end fund’s stock valued at $537,000 after buying an additional 73 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Virtus Investment Partners by 2.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 3,717 shares of the closed-end fund’s stock valued at $839,000 after purchasing an additional 85 shares during the last quarter. Tidal Investments LLC raised its position in shares of Virtus Investment Partners by 9.4% in the 1st quarter. Tidal Investments LLC now owns 1,048 shares of the closed-end fund’s stock valued at $260,000 after purchasing an additional 90 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Virtus Investment Partners by 3.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,400 shares of the closed-end fund’s stock worth $768,000 after purchasing an additional 100 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in Virtus Investment Partners by 7.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,852 shares of the closed-end fund’s stock worth $412,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on VRTS. StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Piper Sandler lifted their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley raised their price objective on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Finally, Barclays initiated coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $206.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $236.00.

Virtus Investment Partners Price Performance

Shares of VRTS opened at $246.97 on Friday. The company has a market capitalization of $1.73 billion, a P/E ratio of 15.01 and a beta of 1.45. The business’s 50-day moving average is $222.95 and its two-hundred day moving average is $220.11. 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, Inc. has a fifty-two week low of $190.42 and a fifty-two week high of $263.39.

About Virtus Investment Partners

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.