Virtus Investment Partners, Inc. (NASDAQ:VRTS) Position Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 4.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,629 shares of the closed-end fund’s stock after selling 164 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Virtus Investment Partners were worth $800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quarry LP lifted its position in shares of Virtus Investment Partners by 388.5% during the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. R Squared Ltd acquired a new stake in Virtus Investment Partners during the fourth quarter valued at approximately $75,000. KBC Group NV lifted its holdings in Virtus Investment Partners by 61.2% during the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock worth $87,000 after buying an additional 150 shares during the last quarter. Point72 DIFC Ltd grew its position in shares of Virtus Investment Partners by 57.2% in the 3rd quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after acquiring an additional 222 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Virtus Investment Partners by 269.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 690 shares of the closed-end fund’s stock valued at $145,000 after acquiring an additional 503 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Down 2.5 %

VRTS stock opened at $183.17 on Tuesday. The stock has a market cap of $1.29 billion, a PE ratio of 10.84 and a beta of 1.47. The firm’s 50-day simple moving average is $202.73 and its 200 day simple moving average is $214.37. Virtus Investment Partners, Inc. has a fifty-two week low of $179.38 and a fifty-two week high of $263.39. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 4.91%. Virtus Investment Partners’s payout ratio is currently 53.25%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VRTS. Morgan Stanley lowered their target price on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Barclays dropped their price objective on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, February 3rd. StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Piper Sandler dropped their price target on Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Virtus Investment Partners currently has an average rating of “Hold” and an average target price of $225.75.

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.