Barclays Lowers Price Target for Virtus Investment Partners to $221.00

Virtus Investment Partners (NASDAQ:VRTS – Free Report) saw its price target decrease from $239.00 to $221.00 following a recent research report from Barclays, as reported by Benzinga. The firm now holds an underweight rating on the stock of this closed-end fund.

In addition to Barclays' adjustment, several other research analysts have also commented on Virtus Investment Partners. For instance, Piper Sandler raised their price target from $264.00 to $274.00, assigning a favorable "overweight" rating in a note released on November 27th. On December 16th, StockNews.com upgraded the stock from a "hold" to a "buy" rating. Meanwhile, Morgan Stanley adjusted their target price upwards from $224.00 to $228.00 while maintaining an underweight rating, as stated in a report on December 20th. In total, there are two analysts with a sell rating, two with a hold rating, and one with a buy rating for Virtus Investment Partners. According to MarketBeat.com, the overall consensus rating is "Hold," with an average price target of $242.50.

Trading Activity of Virtus Investment Partners

On Friday, NASDAQ:VRTS opened at $209.10. Currently, the company shows a fifty-day simple moving average of $230.80 and a 200-day simple moving average of $220.38. The stock has experienced a 12-month low of $190.42, while its 12-month high is $263.39. With a market capitalization of $1.47 billion, Virtus Investment Partners has a price-to-earnings ratio of 12.71 and a beta of 1.48. The firm maintains a current ratio and quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

Dividend Details of Virtus Investment Partners

The company has also announced a quarterly dividend, set to be paid on Wednesday, February 12th. Shareholders on record as of Friday, January 31st, will receive a $2.25 dividend. The ex-dividend date for this payout is also Friday, January 31st. Annually, this dividend amounts to $9.00, translating to a dividend yield of 4.30%. The current payout ratio stands at 54.71%.

Institutional Investor Activity

Recent changes in holdings by hedge funds and institutional investors reveal increased interest in Virtus Investment Partners. Dimensional Fund Advisors LP raised its stake by 2.6% during the second quarter, owning now 328,067 shares valued at approximately $74,092,000 after an additional purchase of 8,393 shares. Additionally, HSBC Holdings PLC boosted their investment by 7.2%, now holding 1,852 shares worth $412,000 after acquiring 124 extra shares. XTX Topco Ltd made a notable increase of 124.4%, owning 2,753 shares worth $622,000 after buying another 1,526 shares last quarter. Intech Investment Management LLC made a new investment during the second quarter valued at around $201,000, and Sei Investments Co. increased their holdings by 7.7%, now owning 2,424 shares worth $548,000 after purchasing 174 shares. A significant 80.52% of the company's shares are now held by hedge funds and institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc. operates as a publicly owned investment management firm. It primarily serves both individual and institutional clients. The firm develops separate client-focused portfolios in equity and fixed income, alongside launching balanced mutual funds.

Further Information

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Barclays, Virtus, Investment