Quarry LP Acquires 101 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Quarry LP boosted its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 388.5% during the 3rd quarter, Holdings Channel reports. The firm owned 127 shares of the closed-end fund’s stock after buying an additional 101 shares during the period. Quarry LP’s holdings in Virtus Investment Partners were worth $27,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Virtus Investment Partners by 3.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,377 shares of the closed-end fund’s stock valued at $537,000 after buying an additional 73 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Virtus Investment Partners by 2.3% during the second quarter. Los Angeles Capital Management LLC now owns 3,717 shares of the closed-end fund’s stock worth $839,000 after acquiring an additional 85 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Virtus Investment Partners by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 3,400 shares of the closed-end fund’s stock valued at $768,000 after acquiring an additional 100 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Virtus Investment Partners by 7.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,852 shares of the closed-end fund’s stock valued at $412,000 after acquiring an additional 124 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Virtus Investment Partners by 11.9% in the 3rd quarter. QRG Capital Management Inc. now owns 1,174 shares of the closed-end fund’s stock worth $246,000 after purchasing an additional 125 shares in the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

Virtus Investment Partners Stock Performance

NASDAQ VRTS opened at $242.95 on Friday. The business’s 50 day moving average price is $230.17 and its 200-day moving average price is $221.01. Virtus Investment Partners, Inc. has a fifty-two week low of $190.42 and a fifty-two week high of $263.39. The company has a market cap of $1.71 billion, a P/E ratio of 14.77 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86.

Virtus Investment Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 3.70%. Virtus Investment Partners’s dividend payout ratio is currently 54.71%.

Wall Street Analysts Forecast Growth

VRTS has been the topic of several research reports. Piper Sandler lifted their target price on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Morgan Stanley lifted their price objective on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research note on Friday, October 18th. Barclays increased their target price on Virtus Investment Partners from $212.00 to $239.00 and gave the company an “underweight” rating in a research report on Monday. Finally, StockNews.com downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Virtus Investment Partners presently has an average rating of “Hold” and a consensus target price of $244.25.

Virtus Investment Partners 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.