Huber Capital Management LLC Trims Stock Position in Virtus Investment Partners, Inc. $VRTS

Huber Capital Management LLC cut its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 27.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,507 shares of the closed-end fund’s stock after selling 3,961 shares during the period. Huber Capital Management LLC owned about 0.16% of Virtus Investment Partners worth $1,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in Virtus Investment Partners by 0.5% in the fourth quarter. State Street Corp now owns 306,375 shares of the closed-end fund’s stock valued at $49,985,000 after purchasing an additional 1,586 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Virtus Investment Partners by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,098 shares of the closed-end fund’s stock valued at $48,961,000 after purchasing an additional 2,917 shares during the period. Dimensional Fund Advisors LP increased its stake in Virtus Investment Partners by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 297,128 shares of the closed-end fund’s stock valued at $48,477,000 after purchasing an additional 6,885 shares during the period. Victory Capital Management Inc. increased its stake in Virtus Investment Partners by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 245,344 shares of the closed-end fund’s stock valued at $40,028,000 after purchasing an additional 15,987 shares during the period. Finally, American Century Companies Inc. increased its stake in Virtus Investment Partners by 23.8% in the third quarter. American Century Companies Inc. now owns 155,881 shares of the closed-end fund’s stock valued at $29,622,000 after purchasing an additional 29,919 shares during the period. 80.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on VRTS. Barclays dropped their price objective on shares of Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating on the stock in a research note on Monday, May 4th. Piper Sandler dropped their price objective on shares of Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, May 4th. Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $128.00 to $112.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 19th. Finally, TD Cowen dropped their price objective on shares of Virtus Investment Partners from $132.00 to $131.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Virtus Investment Partners presently has a consensus rating of “Reduce” and an average target price of $134.50.

Virtus Investment Partners Trading Up 1.9%

NASDAQ VRTS opened at $145.30 on Friday. The stock has a market capitalization of $970.92 million, a P/E ratio of 8.60 and a beta of 1.38. Virtus Investment Partners, Inc. has a 52-week low of $121.61 and a 52-week high of $215.06. The firm has a 50-day moving average price of $141.05 and a 200 day moving average price of $148.37. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $2.40 per share. This represents a $9.60 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, July 31st. Virtus Investment Partners’s dividend payout ratio is currently 56.50%.

Virtus Investment Partners Company Profile

Virtus Investment Partners (NASDAQ: VRTS) is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company’s product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.