Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 7.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,594 shares of the closed-end fund’s stock after selling 283 shares during the quarter. Corebridge Financial Inc.’s holdings in Virtus Investment Partners were worth $793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTS. Charles Schwab Investment Management Inc. grew its stake in shares of Virtus Investment Partners by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock worth $61,074,000 after acquiring an additional 21,344 shares during the last quarter. Geode Capital Management LLC grew its position in Virtus Investment Partners by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock worth $31,702,000 after purchasing an additional 821 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Virtus Investment Partners by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock valued at $30,451,000 after purchasing an additional 3,651 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Virtus Investment Partners by 33.6% in the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund’s stock worth $18,030,000 after buying an additional 20,544 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Virtus Investment Partners by 4.7% during the fourth quarter. Fisher Asset Management LLC now owns 71,600 shares of the closed-end fund’s stock worth $15,794,000 after buying an additional 3,224 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VRTS. Morgan Stanley cut their target price on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a research report on Thursday, February 6th. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Piper Sandler decreased their target price on Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Finally, Barclays cut their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, February 3rd. Two equities 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $225.75.

Virtus Investment Partners Stock Performance

NASDAQ VRTS opened at $158.16 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 9.36 and a beta of 1.49. The stock has a 50-day simple moving average of $182.74 and a two-hundred day simple moving average of $208.88. 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, Inc. has a fifty-two week low of $151.77 and a fifty-two week high of $252.82.

Virtus Investment Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners’s 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.