Virtus Investment Partners, Inc. $VRTS Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 91.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,216 shares of the closed-end fund’s stock after selling 12,819 shares during the quarter. Teacher Retirement System of Texas’ holdings in Virtus Investment Partners were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hilltop National Bank acquired a new position in shares of Virtus Investment Partners in the second quarter worth about $26,000. Farther Finance Advisors LLC grew its position in Virtus Investment Partners by 14,100.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 142 shares of the closed-end fund’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in Virtus Investment Partners during the 2nd quarter worth approximately $31,000. Signaturefd LLC raised its stake in Virtus Investment Partners by 30.2% during the 1st quarter. Signaturefd LLC now owns 366 shares of the closed-end fund’s stock valued at $63,000 after purchasing an additional 85 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Virtus Investment Partners by 226.4% in the second quarter. Nisa Investment Advisors LLC now owns 359 shares of the closed-end fund’s stock valued at $65,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS opened at $163.45 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. Virtus Investment Partners, Inc. has a one year low of $142.18 and a one year high of $252.82. The business’s 50-day moving average price is $183.36 and its two-hundred day moving average price is $184.32. The company has a market capitalization of $1.10 billion, a P/E ratio of 9.67 and a beta of 1.49.

Virtus Investment Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $2.40 per share. The ex-dividend date of this dividend is Friday, October 31st. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $2.25. This represents a $9.60 annualized dividend and a yield of 5.9%. Virtus Investment Partners’s payout ratio is 49.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRTS shares. Piper Sandler lifted their price target on Virtus Investment Partners from $211.00 to $234.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Morgan Stanley raised their price objective on Virtus Investment Partners from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 28th. TD Cowen lowered their target price on Virtus Investment Partners from $196.00 to $180.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Finally, Barclays dropped their target price on Virtus Investment Partners from $190.00 to $175.00 and set an “underweight” rating on the stock in a report on Tuesday, October 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $190.50.

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.