Barclays Lowers Price Target for Virtus Investment Partners (NASDAQ:VRTS) to $221.00

Virtus Investment Partners (NASDAQ:VRTS – Free Report) experienced a decrease in its price target, which was cut by Barclays from $239.00 to $221.00. This adjustment was documented in a research report released on Friday, as noted by Benzinga. Along with this change, Barclays has designated the stock with an underweight rating.

Recently, other research analysts have also provided updates regarding Virtus Investment Partners. For instance, Piper Sandler raised their price target for the company from $264.00 to $274.00 while assigning an "overweight" rating in a note published on November 27. Meanwhile, StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in their report issued on December 16. Additionally, Morgan Stanley adjusted its target price from $224.00 to $228.00 and categorized the company with an underweight rating in a report that came out on December 20. In summary, among the investment community, two analysts have issued sell ratings for the stock, two have provided hold ratings, and one has designated it as a buy. This results in a consensus rating of “Hold” with an average price target of $242.50, based on data collected from MarketBeat.com.

Current Trading Status of Virtus Investment Partners

On the trading front, NASDAQ:VRTS opened at $209.10 on Friday. The company’s fifty-day simple moving average stands at $230.80, while the two-hundred-day simple moving average is at $220.38. Over the past year, Virtus Investment Partners has seen a low of $190.42 and a high of $263.39. The market capitalization for the firm is currently $1.47 billion, with a price-to-earnings ratio of 12.71 and a beta of 1.48. Financial ratios show that the company has a current ratio of 11.86, a quick ratio also of 11.86, and a low debt-to-equity ratio of 0.27.

Dividend Announcement by Virtus Investment Partners

In addition to price adjustments, Virtus Investment Partners has announced a quarterly dividend. The dividend will be paid on Wednesday, February 12, to stockholders who are on record as of Friday, January 31. Each shareholder will receive a $2.25 dividend. The ex-dividend date is set for January 31. This dividend results in a substantial annual payout of $9.00, reflecting a yield of 4.30%. Presently, Virtus Investment Partners has a payout ratio of 54.71%.

Institutional Investment Activity in Virtus Investment Partners

Several hedge funds and institutional investors have made changes to their positions in Virtus Investment Partners recently. For example, Dimensional Fund Advisors LP increased its stake by 2.6% during the second quarter, now owning 328,067 shares worth around $74,092,000 after adding 8,393 shares. Similarly, HSBC Holdings PLC grew its investment in Virtus by 7.2%, now holding 1,852 shares valued at $412,000. XTX Topco Ltd significantly boosted its holdings by 124.4%, resulting in ownership of 2,753 shares with a value of $622,000. Other notable actions include Intech Investment Management LLC purchasing shares valued at approximately $201,000 and Sei Investments Co. lifting its holdings by 7.7%, owning 2,424 shares valued at $548,000 post-purchase. It’s worth noting that 80.52% of Virtus Investment Partners stock is currently owned by hedge funds and other institutional investors.

Overview of Virtus Investment Partners

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Virtus Investment Partners, Inc is a publicly traded investment manager that primarily offers services to both individual and institutional clients. The firm focuses on launching separate client-driven equity and fixed income portfolios and provides a range of mutual funds including equity, fixed income, and balanced options for its clientele.

Investment, Finance, Stocks