JPMorgan Chase & Co. Acquires 3,651 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

JPMorgan Chase & Co. increased its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 145,386 shares of the closed-end fund’s stock after acquiring an additional 3,651 shares during the quarter. JPMorgan Chase & Co.’s holdings in Virtus Investment Partners were worth $30,451,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of VRTS. Geode Capital Management LLC increased its holdings in shares of Virtus Investment Partners by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock worth $31,702,000 after purchasing an additional 821 shares during the period. Barclays PLC increased its stake in Virtus Investment Partners by 204.9% during the third quarter. Barclays PLC now owns 14,119 shares of the closed-end fund’s stock valued at $2,957,000 after acquiring an additional 9,488 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Virtus Investment Partners by 59.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,223 shares of the closed-end fund’s stock valued at $466,000 after acquiring an additional 828 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Virtus Investment Partners by 592.0% in the 3rd quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund’s stock worth $1,931,000 after acquiring an additional 7,886 shares during the period. Finally, Quarry LP grew its holdings in shares of Virtus Investment Partners by 388.5% during the 3rd quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Stock Down 1.4 %

Shares of NASDAQ VRTS opened at $214.26 on Wednesday. Virtus Investment Partners, Inc. has a 1 year low of $190.42 and a 1 year high of $263.39. The firm’s 50-day moving average is $233.43 and its 200-day moving average is $221.23. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.50 billion, a PE ratio of 13.02 and a beta of 1.48.

Virtus Investment Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Friday, January 31st will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio is presently 54.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRTS. Barclays upped their target price on shares of Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Morgan Stanley increased their price target on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Finally, Piper Sandler upped their price objective on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Virtus Investment Partners presently has an average rating of “Hold” and an average target price of $247.00.

Virtus Investment Partners 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.