Norges Bank Buys New Shares in Virtus Investment Partners, Inc. $VRTS

Norges Bank purchased a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,563 shares of the closed-end fund’s stock, valued at approximately $7,177,000. Norges Bank owned 0.57% of Virtus Investment Partners at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in VRTS. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Virtus Investment Partners during the second quarter worth approximately $330,000. Envestnet Portfolio Solutions Inc. bought a new stake in Virtus Investment Partners during the 2nd quarter valued at $450,000. Farther Finance Advisors LLC raised its holdings in Virtus Investment Partners by 14,100.0% during the second quarter. Farther Finance Advisors LLC now owns 142 shares of the closed-end fund’s stock worth $26,000 after buying an additional 141 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Virtus Investment Partners by 0.6% in the second quarter. Geode Capital Management LLC now owns 154,982 shares of the closed-end fund’s stock valued at $28,115,000 after buying an additional 961 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Virtus Investment Partners by 38.5% during the first quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund’s stock valued at $19,510,000 after buying an additional 31,454 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen dropped their price target on shares of Virtus Investment Partners from $196.00 to $180.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Morgan Stanley increased their price objective on Virtus Investment Partners from $170.00 to $173.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 28th. Finally, Barclays cut their target price on Virtus Investment Partners from $190.00 to $175.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $190.50.

Virtus Investment Partners Trading Up 2.5%

NASDAQ:VRTS opened at $163.23 on Wednesday. Virtus Investment Partners, Inc. has a 52 week low of $142.18 and a 52 week high of $248.35. The firm has a 50-day moving average price of $169.78 and a two-hundred day moving average price of $183.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 9.66 and a beta of 1.52.

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.