BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a hold rating in a research note released on Tuesday, January 9th.
A number of other brokerages also recently issued reports on VRTS. Zacks Investment Research downgraded Virtus Investment Partners from a strong-buy rating to a hold rating in a report on Thursday, October 12th. TheStreet upgraded Virtus Investment Partners from a c+ rating to a b rating in a report on Thursday, November 30th. Barclays upped their target price on Virtus Investment Partners from $116.00 to $125.00 and gave the stock an equal weight rating in a report on Monday, October 30th. Bank of America upgraded Virtus Investment Partners from an underperform rating to a neutral rating and upped their target price for the stock from $112.00 to $130.00 in a report on Monday, October 9th. Finally, Morgan Stanley set a $123.00 target price on Virtus Investment Partners and gave the stock an equal weight rating in a report on Thursday, October 5th. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $132.13.
Shares of Virtus Investment Partners (NASDAQ VRTS) opened at $131.40 on Tuesday. Virtus Investment Partners has a 52 week low of $97.60 and a 52 week high of $132.85. The stock has a market capitalization of $940.56, a PE ratio of 24.51, a price-to-earnings-growth ratio of 0.33 and a beta of 1.90.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.80 annualized dividend and a yield of 1.37%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 33.58%.
Hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. bought a new position in Virtus Investment Partners in the 3rd quarter valued at approximately $204,000. Cubist Systematic Strategies LLC lifted its position in Virtus Investment Partners by 1,798.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after acquiring an additional 1,709 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Virtus Investment Partners by 52.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock valued at $275,000 after buying an additional 848 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Virtus Investment Partners by 73.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after buying an additional 1,150 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of Virtus Investment Partners by 17.5% during the 2nd quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after buying an additional 427 shares during the period. 95.78% of the stock is currently owned by institutional investors and hedge funds.
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About Virtus Investment Partners
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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