Meritage Portfolio Management Sells 1,348 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Meritage Portfolio Management decreased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,973 shares of the closed-end fund’s stock after selling 1,348 shares during the period. Meritage Portfolio Management owned approximately 0.30% of Virtus Investment Partners worth $4,626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Virtus Investment Partners by 17.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,818 shares of the closed-end fund’s stock worth $1,074,000 after acquiring an additional 733 shares during the period. R Squared Ltd acquired a new position in shares of Virtus Investment Partners during the 4th quarter worth approximately $75,000. KBC Group NV increased its holdings in shares of Virtus Investment Partners by 61.2% during the fourth quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock worth $87,000 after purchasing an additional 150 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Virtus Investment Partners by 5.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 5,098 shares of the closed-end fund’s stock valued at $1,125,000 after buying an additional 268 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Virtus Investment Partners in the fourth quarter valued at approximately $375,000. Institutional investors and hedge funds own 80.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on VRTS shares. StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Barclays dropped their price target on Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday. Morgan Stanley raised their target price on shares of Virtus Investment Partners from $224.00 to $228.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Finally, Piper Sandler cut their price target on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Virtus Investment Partners presently has an average rating of “Hold” and a consensus target price of $233.25.

Virtus Investment Partners Stock Performance

Virtus Investment Partners stock opened at $194.57 on Wednesday. The stock has a market cap of $1.37 billion, a PE ratio of 7.57 and a beta of 1.47. 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, Inc. has a 12-month low of $190.42 and a 12-month high of $263.39. The business’s 50-day moving average price is $222.73 and its two-hundred day moving average price is $218.24.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Friday, January 31st will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s payout ratio is 53.25%.

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.