Kingsview Wealth Management LLC Purchases Shares of 17,404 Virtus Investment Partners, Inc. $VRTS

Kingsview Wealth Management LLC acquired a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 17,404 shares of the closed-end fund’s stock, valued at approximately $3,307,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its position in Virtus Investment Partners by 23.8% in the 3rd quarter. American Century Companies Inc. now owns 155,881 shares of the closed-end fund’s stock valued at $29,622,000 after acquiring an additional 29,919 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Virtus Investment Partners by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 154,982 shares of the closed-end fund’s stock valued at $28,115,000 after purchasing an additional 961 shares during the period. Brown Advisory Inc. raised its stake in shares of Virtus Investment Partners by 21.6% in the 2nd quarter. Brown Advisory Inc. now owns 101,954 shares of the closed-end fund’s stock valued at $18,494,000 after purchasing an additional 18,143 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Virtus Investment Partners by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 90,416 shares of the closed-end fund’s stock valued at $16,402,000 after purchasing an additional 4,252 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Virtus Investment Partners by 36.2% in the second quarter. AQR Capital Management LLC now owns 71,347 shares of the closed-end fund’s stock valued at $12,942,000 after purchasing an additional 18,956 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen decreased their price objective on Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating for the company in a report on Wednesday, January 14th. Barclays reaffirmed an “underweight” rating and set a $142.00 price target on shares of Virtus Investment Partners in a research report on Monday, February 9th. Zacks Research raised shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, January 16th. Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Finally, Morgan Stanley reduced their target price on shares of Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating for the company in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Virtus Investment Partners presently has an average rating of “Reduce” and an average price target of $169.00.

Virtus Investment Partners Stock Up 1.1%

VRTS stock opened at $141.23 on Thursday. The company has a market cap of $945.53 million, a price-to-earnings ratio of 8.36 and a beta of 1.47. Virtus Investment Partners, Inc. has a twelve month low of $134.81 and a twelve month high of $215.06. The business has a 50 day moving average price of $156.20 and a two-hundred day moving average price of $170.33. 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 announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be paid a $2.40 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $9.60 annualized dividend and a dividend yield of 6.8%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 48.02%.

Virtus Investment Partners Profile

Virtus Investment Partners (NASDAQ: VRTS) is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company’s product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.