Los Angeles Capital Management LLC Increases Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Los Angeles Capital Management LLC lifted its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 27.2% in the fourth quarter, Holdings Channel reports. The fund owned 2,388 shares of the closed-end fund’s stock after purchasing an additional 510 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Virtus Investment Partners were worth $527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its position in Virtus Investment Partners by 388.5% during the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock valued at $27,000 after purchasing an additional 101 shares during the period. R Squared Ltd bought a new position in shares of Virtus Investment Partners during the 4th quarter valued at approximately $75,000. KBC Group NV lifted its position in Virtus Investment Partners by 61.2% in the fourth quarter. KBC Group NV now owns 395 shares of the closed-end fund’s stock worth $87,000 after buying an additional 150 shares during the last quarter. Point72 DIFC Ltd lifted its position in Virtus Investment Partners by 57.2% in the third quarter. Point72 DIFC Ltd now owns 610 shares of the closed-end fund’s stock worth $128,000 after buying an additional 222 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Virtus Investment Partners by 269.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 690 shares of the closed-end fund’s stock worth $145,000 after buying an additional 503 shares during the period. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $183.17 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 10.84 and a beta of 1.47. The firm has a 50-day moving average of $202.73 and a two-hundred day moving average of $214.37. Virtus Investment Partners, Inc. has a 1 year low of $179.38 and a 1 year high of $263.39.

Virtus Investment Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.91%. Virtus Investment Partners’s payout ratio is 53.25%.

Analysts Set New Price Targets

VRTS has been the topic of several recent analyst reports. Barclays lowered their target price on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating for the company in a report on Monday, February 3rd. Morgan Stanley decreased their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Piper Sandler dropped their target price on Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Hold” and a consensus price target of $225.75.

Virtus Investment Partners Company 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.