Y Intercept Hong Kong Ltd Sells 6,666 Shares of Virtus Investment Partners, Inc. $VRTS

Y Intercept Hong Kong Ltd reduced its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 45.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,061 shares of the closed-end fund’s stock after selling 6,666 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Virtus Investment Partners were worth $1,083,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Louisiana State Employees Retirement System bought a new stake in shares of Virtus Investment Partners during the 1st quarter valued at about $376,000. Hsbc Holdings PLC acquired a new position in Virtus Investment Partners in the fourth quarter valued at approximately $421,000. Alpine Woods Capital Investors LLC acquired a new position in Virtus Investment Partners in the fourth quarter valued at approximately $666,000. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Virtus Investment Partners by 7.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,077 shares of the closed-end fund’s stock worth $339,000 after buying an additional 147 shares in the last quarter. Finally, Caitlin John LLC bought a new position in shares of Virtus Investment Partners during the 4th quarter worth approximately $266,000. 80.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. TD Cowen cut their target price 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. Morgan Stanley raised their price target on shares of Virtus Investment Partners from $112.00 to $119.00 and gave the stock an “underweight” rating in a report on Friday, June 26th. Finally, Barclays decreased their price target on shares of Virtus Investment Partners from $128.00 to $125.00 and set an “underweight” rating for the company 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Virtus Investment Partners presently has a consensus rating of “Reduce” and an average target price of $136.25.

Virtus Investment Partners Stock Up 1.9%

NASDAQ:VRTS traded up $3.00 on Friday, hitting $160.34. The stock had a trading volume of 111,065 shares, compared to its average volume of 108,452. The company has a market cap of $1.07 billion, a PE ratio of 9.49 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 business’s fifty day moving average is $144.40 and its 200 day moving average is $146.23. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a dividend of $2.40 per share. This represents a $9.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Friday, July 31st. Virtus Investment Partners’s payout ratio is 56.50%.

Virtus Investment Partners 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.