Private Client Services LLC Buys Shares of 3,622 Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Private Client Services LLC purchased a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,622 shares of the closed-end fund’s stock, valued at approximately $799,000. Private Client Services LLC owned 0.05% of Virtus Investment Partners as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC boosted its holdings in Virtus Investment Partners by 2.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 3,717 shares of the closed-end fund’s stock valued at $839,000 after acquiring an additional 85 shares during the period. 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 in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Virtus Investment Partners by 7.2% in the second quarter. Hsbc Holdings PLC now owns 1,852 shares of the closed-end fund’s stock valued at $412,000 after purchasing an additional 124 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Virtus Investment Partners by 11.9% in the third quarter. QRG Capital Management Inc. now owns 1,174 shares of the closed-end fund’s stock valued at $246,000 after purchasing an additional 125 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Virtus Investment Partners by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,496 shares of the closed-end fund’s stock worth $790,000 after buying an additional 135 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Morgan Stanley lifted their target price on Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Piper Sandler upped their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Finally, Barclays lifted their price objective on Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $247.00.

Virtus Investment Partners Stock Down 0.4 %

Shares of VRTS stock traded down $0.84 on Wednesday, reaching $213.62. 9,432 shares of the stock were exchanged, compared to its average volume of 32,321. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.99 and a beta of 1.48. The business’s 50 day moving average price is $233.43 and its 200 day moving average price 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. Virtus Investment Partners, Inc. has a twelve month low of $190.42 and a twelve month high of $263.39.

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be issued a $2.25 dividend. The ex-dividend date is Friday, January 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.21%. Virtus Investment Partners’s payout ratio is currently 54.71%.

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.