Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,766 shares of the closed-end fund’s stock after selling 702 shares during the quarter. Glenmede Trust Co. NA’s holdings in Virtus Investment Partners were worth $12,309,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Lombard Odier Asset Management Europe Ltd bought a new stake in Virtus Investment Partners in the second quarter valued at $6,776,000. AQR Capital Management LLC lifted its position in Virtus Investment Partners by 78.1% in the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the closed-end fund’s stock valued at $11,508,000 after purchasing an additional 22,344 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Virtus Investment Partners by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 255,536 shares of the closed-end fund’s stock valued at $53,522,000 after purchasing an additional 16,586 shares during the period. SG Americas Securities LLC bought a new position in Virtus Investment Partners in the 2nd quarter worth about $2,553,000. Finally, Algert Global LLC increased its stake in shares of Virtus Investment Partners by 57.1% in the third quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock valued at $5,481,000 after purchasing an additional 9,508 shares during the period. 80.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRTS. Morgan Stanley boosted their price objective on Virtus Investment Partners from $208.00 to $217.00 and gave the stock an “underweight” rating in a research report on Friday, October 18th. Piper Sandler increased their price target on Virtus Investment Partners from $264.00 to $274.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays initiated coverage on shares of Virtus Investment Partners in a research note on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price objective on the stock. Finally, StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $236.00.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS opened at $246.97 on Friday. Virtus Investment Partners, Inc. has a 1 year low of $190.42 and a 1 year high of $263.39. The firm has a market cap of $1.73 billion, a P/E ratio of 15.01 and a beta of 1.45. The stock has a fifty day moving average price of $222.95 and a two-hundred day moving average price of $220.20. 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 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.