WCM Investment Management LLC Reduces Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

WCM Investment Management LLC decreased its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 108,927 shares of the closed-end fund’s stock after selling 4,965 shares during the quarter. WCM Investment Management LLC’s holdings in Virtus Investment Partners were worth $24,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Virtus Investment Partners by 6.9% in the third 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. Geode Capital Management LLC increased its holdings in Virtus Investment Partners by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 151,328 shares of the closed-end fund’s stock worth $31,702,000 after buying an additional 821 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Virtus Investment Partners by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund’s stock valued at $30,451,000 after acquiring an additional 3,651 shares during the last quarter. Basswood Capital Management L.L.C. grew its position in Virtus Investment Partners by 12.4% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock worth $23,129,000 after purchasing an additional 12,193 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Virtus Investment Partners by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 98,626 shares of the closed-end fund’s stock valued at $20,657,000 after buying an additional 947 shares during the period. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Morgan Stanley decreased their target price on shares of Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research note on Thursday. Barclays dropped 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 research report on Monday, February 3rd. Finally, Piper Sandler cut their price target on Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $225.75.

Virtus Investment Partners Stock Down 1.4 %

NASDAQ VRTS opened at $188.54 on Friday. The business has a fifty day moving average price of $219.40 and a 200 day moving average price of $217.51. 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 company has a market cap of $1.32 billion, a P/E ratio of 7.26 and a beta of 1.47. Virtus Investment Partners, Inc. has a one year low of $188.06 and a one year high of $263.39.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, January 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is 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.