UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,214 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 11.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,416 shares of the closed-end fund’s stock after selling 2,214 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Virtus Investment Partners worth $3,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC grew its position in Virtus Investment Partners by 183.0% in the 2nd quarter. Quest Partners LLC now owns 8,287 shares of the closed-end fund’s stock valued at $1,872,000 after purchasing an additional 5,359 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Virtus Investment Partners by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock valued at $53,522,000 after buying an additional 16,586 shares during the last quarter. Bailard Inc. acquired a new position in shares of Virtus Investment Partners during the second quarter valued at about $700,000. Meritage Portfolio Management increased its position in shares of Virtus Investment Partners by 36.1% during the third quarter. Meritage Portfolio Management now owns 22,321 shares of the closed-end fund’s stock worth $4,675,000 after acquiring an additional 5,919 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Virtus Investment Partners by 14.6% in the 2nd quarter. Millennium Management LLC now owns 28,113 shares of the closed-end fund’s stock worth $6,349,000 after acquiring an additional 3,589 shares during the last quarter. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Price Performance

Shares of NASDAQ:VRTS opened at $241.67 on Friday. Virtus Investment Partners, Inc. has a one year low of $190.42 and a one year high of $263.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.69 and a beta of 1.46. The company’s fifty day moving average price is $230.83 and its 200-day moving average price is $221.08.

Virtus Investment Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.72%. Virtus Investment Partners’s dividend payout ratio is presently 54.71%.

Analysts Set New Price Targets

VRTS has been the subject of several recent research reports. Morgan Stanley upped their price target on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Piper Sandler upped their target price on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Barclays raised their price target on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research report on Monday, December 9th. Finally, StockNews.com downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $244.25.

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.