Kingsview Wealth Management LLC Makes New Investment in Virtus Investment Partners, Inc. $VRTS

Kingsview Wealth Management LLC acquired a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 17,404 shares of the closed-end fund’s stock, valued at approximately $3,307,000. Kingsview Wealth Management LLC owned approximately 0.26% of Virtus Investment Partners at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. NBT Bank N A NY increased its holdings in shares of Virtus Investment Partners by 1,483.3% in the third quarter. NBT Bank N A NY now owns 190 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 178 shares in the last quarter. Osaic Holdings Inc. boosted its position in Virtus Investment Partners by 90.4% in the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Virtus Investment Partners by 226.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 359 shares of the closed-end fund’s stock valued at $65,000 after buying an additional 249 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Virtus Investment Partners in the 2nd quarter valued at $147,000. Finally, Oxford Asset Management LLP bought a new stake in shares of Virtus Investment Partners during the second quarter worth $217,000. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Trading Up 1.1%

Shares of NASDAQ VRTS opened at $141.23 on Thursday. Virtus Investment Partners, Inc. has a twelve month low of $134.81 and a twelve month high of $215.06. The stock has a market cap of $945.53 million, a price-to-earnings ratio of 8.36 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. The company’s fifty day moving average is $156.20 and its 200-day moving average is $170.33.

Virtus Investment Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Thursday, April 30th will be issued a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, April 30th. Virtus Investment Partners’s dividend payout ratio is 48.02%.

Analyst Ratings Changes

VRTS has been the topic of several recent research reports. Zacks Research upgraded Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Friday, January 16th. Barclays reissued an “underweight” rating and set a $142.00 price objective on shares of Virtus Investment Partners in a report on Monday, February 9th. Morgan Stanley reduced their target price on shares of Virtus Investment Partners from $168.00 to $155.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 3rd. Piper Sandler lowered their price target on shares of Virtus Investment Partners from $218.00 to $206.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Finally, TD Cowen cut their price objective on shares of Virtus Investment Partners from $180.00 to $173.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Virtus Investment Partners has a consensus rating of “Reduce” and an average price target of $169.00.

About Virtus Investment Partners

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.