BidaskClub downgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a buy rating to a hold rating in a report published on Friday.
Several other brokerages have also issued reports on VRTS. Goldman Sachs Group upgraded Virtus Investment Partners from a sell rating to a neutral rating and set a $130.00 price target for the company in a report on Tuesday, January 9th. Sandler O’Neill set a $132.00 price target on Virtus Investment Partners and gave the company a hold rating in a report on Thursday, January 11th. Zacks Investment Research lowered 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. Finally, Barclays boosted 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. Nine investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Virtus Investment Partners currently has a consensus rating of Hold and a consensus price target of $132.13.
Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at $129.80 on Friday. The stock has a market capitalization of $937.70, a PE ratio of 24.22, a PEG ratio of 0.33 and a beta of 1.90. Virtus Investment Partners has a 1-year low of $97.60 and a 1-year high of $134.65.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued 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 1.39%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 33.58%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Virtus Investment Partners by 17.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 20,622 shares of the closed-end fund’s stock worth $2,288,000 after purchasing an additional 3,100 shares during the last quarter. State Street Corp lifted its holdings in Virtus Investment Partners by 6.8% in the 2nd quarter. State Street Corp now owns 154,490 shares of the closed-end fund’s stock worth $17,136,000 after purchasing an additional 9,784 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Virtus Investment Partners by 73.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock worth $316,000 after purchasing an additional 1,150 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Virtus Investment Partners by 7.8% in the 3rd quarter. Principal Financial Group Inc. now owns 54,432 shares of the closed-end fund’s stock worth $6,317,000 after purchasing an additional 3,932 shares during the last quarter. Finally, Mangrove Partners acquired a new stake in Virtus Investment Partners in the 2nd quarter worth approximately $4,985,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.
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Virtus Investment Partners Company Profile
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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