Meritage Portfolio Management Sells 1,348 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Meritage Portfolio Management trimmed its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 6.0% during the fourth quarter, HoldingsChannel reports. The fund owned 20,973 shares of the closed-end fund’s stock after selling 1,348 shares during the quarter. Meritage Portfolio Management’s holdings in Virtus Investment Partners were worth $4,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. raised its position in Virtus Investment Partners by 7.7% during the 2nd quarter. Sei Investments Co. now owns 2,424 shares of the closed-end fund’s stock worth $548,000 after purchasing an additional 174 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Virtus Investment Partners by 37.3% during the second quarter. Squarepoint Ops LLC now owns 2,461 shares of the closed-end fund’s stock worth $556,000 after acquiring an additional 668 shares during the last quarter. Millennium Management LLC boosted its holdings in Virtus Investment Partners by 14.6% in the second quarter. Millennium Management LLC now owns 28,113 shares of the closed-end fund’s stock valued at $6,349,000 after acquiring an additional 3,589 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Virtus Investment Partners by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,496 shares of the closed-end fund’s stock valued at $790,000 after purchasing an additional 135 shares during the period. Finally, City Center Advisors LLC acquired a new position in shares of Virtus Investment Partners in the 3rd quarter worth approximately $316,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Price Performance

VRTS stock opened at $194.57 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The company’s 50-day moving average is $222.73 and its 200-day moving average is $218.24. The stock has a market capitalization of $1.37 billion, a PE ratio of 7.57 and a beta of 1.47. Virtus Investment Partners, Inc. has a 1 year low of $190.42 and a 1 year high of $263.39.

Virtus Investment Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Friday, January 31st will be issued a dividend of $2.25 per share. The ex-dividend date is Friday, January 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.63%. Virtus Investment Partners’s dividend payout ratio is 53.25%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRTS. StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Morgan Stanley lifted their price objective on Virtus Investment Partners from $224.00 to $228.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Barclays cut their target price on Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, Piper Sandler lowered 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $233.25.

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.