Great West Life Assurance Co. Can acquired a new position in Virtus Investment Partners, Inc. (NASDAQ: VRTS – Get Rating ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,583 shares of the closed-end fund’s stock, valued at approximately $1,209,000. Great West Life Assurance Co. Can owned 0.10% of Virtus Investment Partners at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its holdings in Virtus Investment Partners by 82.1% during the first quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Point72 Hong Kong Ltd raised its stake in Virtus Investment Partners by 1,937.5% in the first quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 155 shares in the last quarter. CWM LLC boosted its stake in Virtus Investment Partners by 154.3% in the second quarter. CWM LLC now owns 239 shares of the closed-end fund’s stock valued at $41,000 after buying an additional 145 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Virtus Investment Partners by 79.5% in the second quarter. Quadrant Capital Group LLC now owns 280 shares of the closed-end fund’s stock valued at $48,000 after purchasing an additional 124 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Virtus Investment Partners by 37.2% during the first quarter. PNC Financial Services Group Inc. now owns 572 shares of the closed-end fund’s stock valued at $138,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 80.91% of the company’s shares.
Price presentation of Virtus Investment Partners
Shares of NASDAQ VRTS opened at $214.88 on Wednesday. Virtus Investment Partners, Inc. has a fifty-two week low of $141.80 and a fifty-two week high of $273.03. The firm’s 50-day simple moving average is $199.56, and its 200-day simple moving average is $189.93. The company has a quick ratio of 13.06, a current ratio of 13.06 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.55 billion, a P/E ratio of 12.60 and a beta of 1.62.
Virtus Investment Partners announces dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st will be paid a $1.65 dividend. This represents a $6.60 annual dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, January 30th. Virtus Investment Partners’ dividend payout ratio (DPR) is currently 38.71%.
The Wall Street analyst weighs in
A number of research firms have issued reports on VRTS. Piper Sandler cut their target price on Virtus Investment Partners from $268.00 to $248.00 in a research note on Tuesday, October 11th. Morgan Stanley boosted their price objective on shares of Virtus Investment Partners from $134.00 to $150.00 and gave the company an “underweight” rating in a research note on Thursday, January 19th. Finally, StockNews.com assumed coverage on shares of Virtus Investment Partners in a research note on Wednesday, October 12th. They assign a “hold” rating to the stock.
Virtus Investment Partners company profile
Virtus Investment Partners, Inc is an asset management company engaged in providing investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional closed-end funds, Virtus variable insurance trusts and other portfolios.
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