Nisa Investment Advisors LLC Has $149,000 Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Nisa Investment Advisors LLC cut its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 84.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 710 shares of the closed-end fund’s stock after selling 3,800 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Virtus Investment Partners were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Cetera Advisors LLC purchased a new stake in Virtus Investment Partners in the 1st quarter valued at $657,000. Russell Investments Group Ltd. raised its holdings in shares of Virtus Investment Partners by 80.6% in the first quarter. Russell Investments Group Ltd. now owns 13,918 shares of the closed-end fund’s stock valued at $3,451,000 after purchasing an additional 6,213 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Virtus Investment Partners during the first quarter valued at about $517,000. Quadrature Capital Ltd boosted its holdings in Virtus Investment Partners by 80.2% during the first quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock worth $5,825,000 after purchasing an additional 10,461 shares during the last quarter. Finally, 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 worth $1,872,000 after purchasing an additional 5,359 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Analyst Upgrades and Downgrades

VRTS has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Barclays initiated coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $206.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Virtus Investment Partners has a consensus rating of “Hold” and a consensus price target of $233.50.

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $238.93 on Thursday. The business’s 50 day simple moving average is $210.25 and its 200 day simple moving average is $218.64. Virtus Investment Partners, Inc. has a 12 month low of $190.42 and a 12 month high of $263.39. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 14.52 and a beta of 1.45. The company has a current ratio of 15.18, a quick ratio of 15.18 and a debt-to-equity ratio of 0.28.

Virtus Investment Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $9.00 annualized dividend and a yield of 3.77%. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio (DPR) is 54.71%.

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.