Virtus Investment Partners, Inc. $VRTS Shares Bought by First Trust Advisors LP

First Trust Advisors LP boosted its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 38.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,930 shares of the closed-end fund’s stock after purchasing an additional 14,600 shares during the quarter. First Trust Advisors LP’s holdings in Virtus Investment Partners were worth $7,111,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VRTS. International Assets Investment Management LLC purchased a new stake in shares of Virtus Investment Partners in the first quarter valued at approximately $26,000. Assetmark Inc. acquired a new stake in shares of Virtus Investment Partners in the first quarter valued at about $36,000. Aster Capital Management DIFC Ltd increased its stake in shares of Virtus Investment Partners by 269.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund’s stock worth $50,000 after purchasing an additional 224 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Virtus Investment Partners by 90.4% during the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock worth $57,000 after purchasing an additional 150 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Virtus Investment Partners by 24.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund’s stock worth $81,000 after purchasing an additional 97 shares during the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on VRTS. Morgan Stanley reaffirmed an “underweight” rating and issued a $130.00 price target on shares of Virtus Investment Partners in a research note on Wednesday. TD Cowen boosted their price objective on Virtus Investment Partners from $136.00 to $147.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. Barclays reduced their target price on Virtus Investment Partners from $141.00 to $135.00 and set an “underweight” rating for the company in a report on Friday. Finally, Piper Sandler decreased their target price on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Virtus Investment Partners presently has an average rating of “Reduce” and a consensus target price of $145.50.

Virtus Investment Partners Stock Down 2.2%

NASDAQ:VRTS opened at $159.89 on Friday. Virtus Investment Partners, Inc. has a 52 week low of $121.61 and a 52 week high of $203.61. The stock’s fifty day moving average is $151.44 and its two-hundred day moving average is $146.05. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 9.46 and a beta of 1.38. 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 disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, July 31st. Virtus Investment Partners’s payout ratio is currently 54.70%.

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.