Barclays Lowers Price Target for Virtus Investment Partners
On January 20th, 2025, Barclays announced a reduction in the price target for Virtus Investment Partners (NASDAQ:VRTS – Free Report). The new target is set at $221.00, down from the previous target of $239.00. This update comes in a research report shared with the public, and Barclays has assigned an underweight rating to the stock of this closed-end fund.
In addition to Barclays' assessment, other financial analysts have also weighed in on Virtus Investment Partners recently. For example, Piper Sandler increased their price target from $264.00 to $274.00 and assigned an “overweight” rating in their report on November 27th. Moreover, StockNews.com upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating on December 16th. Morgan Stanley similarly revised their target for Virtus, changing it from $224.00 to $228.00 while maintaining an underweight rating in their December 20th report.
Market Sentiment
Currently, the consensus rating among analysts for Virtus Investment Partners is “Hold.” The stock has received two sell ratings, two hold ratings, and one buy rating from various analysts. As per MarketBeat.com, the average price target across the board stands at $242.50.
Stock Performance
On the trading day following the announcement, NASDAQ:VRTS opened at $209.10. The company has a fifty-day simple moving average of $230.80 and a two-hundred day simple moving average of $220.38. Over the past year, the stock has reached a low of $190.42 and a high of $263.39. The market capitalization for Virtus Investment Partners is currently $1.47 billion. It has a price-to-earnings ratio of 12.71 and a beta of 1.48, indicating some volatility in stock price. Additionally, it maintains a current ratio and quick ratio of 11.86, with a debt-to-equity ratio of 0.27, showcasing its strong liquidity position.
Dividend Announcement
Virtus Investment Partners has also declared a quarterly dividend of $2.25, which will be paid to shareholders on February 12th. Investors must be on record by January 31st to receive this dividend, marking it as an annual distribution of $9.00, providing a dividend yield of 4.30%. The firm currently has a payout ratio of 54.71%.
Institutional Ownership
Several hedge funds have adjusted their positions in Virtus Investment Partners recently. Dimensional Fund Advisors LP increased their holdings by 2.6% in the second quarter, now owning 328,067 shares valued at approximately $74.09 million. HSBC Holdings PLC has also raised its stake by 7.2%, acquiring an additional 124 shares, resulting in a total of 1,852 shares worth about $412,000. XTX Topco Ltd significantly increased its holding by 124.4% during the same period, owning now 2,753 shares valued at around $622,000. Other institutional investors, such as Intech Investment Management LLC and Sei Investments Co., have also made adjustments to their positions, highlighting strong institutional interest in Virtus Investment Partners with 80.52% of the stock currently held by hedge funds and institutional owners.
Company Overview
Virtus Investment Partners, Inc is a publicly traded investment management firm. The company provides services primarily to individual and institutional clients, offering a range of client-focused equity and fixed income portfolios. They also manage various equity, fixed income, and balanced mutual funds for their clients.
Barclays, Investment, Target