4,107 Shares in Virtus Investment Partners, Inc. (NASDAQ:VRTS) Purchased by Kennondale Capital Management LLC

Kennondale Capital Management LLC acquired a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the fourth quarter, Holdings Channel.com reports. The fund acquired 4,107 shares of the closed-end fund’s stock, valued at approximately $906,000.

A number of other institutional investors have also added to or reduced their stakes in VRTS. Charles Schwab Investment Management Inc. lifted its holdings in Virtus Investment Partners by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock worth $61,074,000 after purchasing an additional 21,344 shares in the last quarter. Basswood Capital Management L.L.C. raised its holdings in shares of Virtus Investment Partners by 12.4% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock valued at $23,129,000 after acquiring an additional 12,193 shares in the last quarter. Algert Global LLC raised its holdings in shares of Virtus Investment Partners by 57.1% in the 3rd quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock valued at $5,481,000 after acquiring an additional 9,508 shares in the last quarter. Barclays PLC raised its holdings in shares of Virtus Investment Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 14,119 shares of the closed-end fund’s stock valued at $2,957,000 after acquiring an additional 9,488 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Virtus Investment Partners by 592.0% in the 3rd quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund’s stock valued at $1,931,000 after acquiring an additional 7,886 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

VRTS opened at $176.48 on Tuesday. The stock’s 50 day simple moving average is $193.73 and its 200 day simple moving average is $212.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. Virtus Investment Partners, Inc. has a 1 year low of $167.13 and a 1 year high of $263.39. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 10.44 and a beta of 1.49.

Virtus Investment Partners Announces Dividend

The business 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 5.10%. Virtus Investment Partners’s payout ratio is 53.25%.

Analysts Set New Price Targets

VRTS has been the topic of several recent analyst reports. Barclays lowered their price target on Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a report on Monday, February 3rd. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, March 3rd. Morgan Stanley lowered their price target on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler reduced their price objective on 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 analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Hold” and a consensus price target of $225.75.

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.