Fmr LLC Has $3.05 Million Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Fmr LLC lessened its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 92.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,580 shares of the closed-end fund’s stock after selling 188,850 shares during the quarter. Fmr LLC’s holdings in Virtus Investment Partners were worth $3,054,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its holdings in shares of Virtus Investment Partners by 0.9% in the third quarter. Fisher Asset Management LLC now owns 68,376 shares of the closed-end fund’s stock valued at $14,321,000 after buying an additional 640 shares during the period. Algert Global LLC lifted its position in shares of Virtus Investment Partners by 57.1% in the third quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock worth $5,481,000 after purchasing an additional 9,508 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Virtus Investment Partners by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock worth $53,522,000 after purchasing an additional 16,586 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Virtus Investment Partners by 63.0% in the third quarter. Intech Investment Management LLC now owns 1,452 shares of the closed-end fund’s stock worth $304,000 after purchasing an additional 561 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Virtus Investment Partners by 15.3% in the third quarter. Quest Partners LLC now owns 9,555 shares of the closed-end fund’s stock worth $2,001,000 after purchasing an additional 1,268 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Shares of VRTS opened at $239.70 on Friday. The firm has a market capitalization of $1.68 billion, a PE ratio of 14.57 and a beta of 1.46. The company’s 50-day moving average is $230.83 and its 200-day moving average is $221.02. Virtus Investment Partners, Inc. has a fifty-two week low of $190.42 and a fifty-two week 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.

Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.75%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 54.71%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Morgan Stanley increased their price objective on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. Piper Sandler increased their price objective on shares of Virtus Investment Partners from $264.00 to $274.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Finally, Barclays increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Virtus Investment Partners presently has a consensus rating of “Hold” and an average target price of $244.25.

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.