Fisher Asset Management LLC Boosts Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Fisher Asset Management LLC grew its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,600 shares of the closed-end fund’s stock after buying an additional 3,224 shares during the period. Fisher Asset Management LLC owned 1.02% of Virtus Investment Partners worth $15,794,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP raised its holdings in shares of Virtus Investment Partners by 388.5% in the third quarter. Quarry LP now owns 127 shares of the closed-end fund’s stock worth $27,000 after buying an additional 101 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Virtus Investment Partners in the fourth quarter worth $75,000. KBC Group NV increased its stake in shares of 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 acquiring an additional 150 shares during the period. Point72 DIFC Ltd increased its stake in shares of 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 acquiring an additional 222 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Virtus Investment Partners by 269.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 690 shares of the closed-end fund’s stock worth $145,000 after acquiring an additional 503 shares during the period. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VRTS shares. Morgan Stanley cut their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday. Barclays cut their price objective on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler dropped their price target on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $225.75.

Virtus Investment Partners Stock Down 2.5 %

VRTS stock opened at $183.17 on Tuesday. The firm has a market cap of $1.29 billion, a PE ratio of 10.84 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The firm’s fifty day moving average is $202.73 and its 200 day moving average is $214.37. Virtus Investment Partners, Inc. has a one year low of $179.38 and a one 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 given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a yield of 4.91%. Virtus Investment Partners’s dividend payout ratio is presently 53.25%.

About Virtus Investment Partners

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.