Virtus Investment Partners (NASDAQ:VRTS) Hits New 12-Month Low – Should You Sell?

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week low during trading on Monday . The company traded as low as $143.98 and last traded at $143.98, with a volume of 10436 shares trading hands. The stock had previously closed at $148.96.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen lowered their price objective on shares of Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley cut their price target on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating on the stock in a research note on Thursday, February 6th. Barclays dropped their price target on shares of Virtus Investment Partners from $200.00 to $149.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Finally, StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $179.00.

Virtus Investment Partners Stock Performance

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 stock has a fifty day simple moving average of $171.37 and a two-hundred day simple moving average of $204.20. The stock has a market capitalization of $985.45 million, a price-to-earnings ratio of 8.41 and a beta of 1.36.

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 6.33%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners’s payout ratio is 53.25%.

Hedge Funds Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently made changes to their positions in VRTS. Norges Bank acquired a new stake in Virtus Investment Partners in the fourth quarter valued at approximately $9,503,000. Charles Schwab Investment Management Inc. boosted its position 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 valued at $61,074,000 after buying an additional 21,344 shares during the last quarter. American Century Companies Inc. grew its holdings in Virtus Investment Partners by 33.6% during 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 in the last quarter. Zacks Investment Management bought a new position in Virtus Investment Partners during the 4th quarter valued at $3,124,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Virtus Investment Partners by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund’s stock worth $34,858,000 after acquiring an additional 12,642 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

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.