Putnam Investments LLC Sells 99 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Posted by Defense World Staff on Mar 14th, 2023

Putnam Investments LLC reduced its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS – Get Rating) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,587 shares of the closed-end fund’s stock after selling 99 shares during the period. Putnam Investments LLC owned about 0.08% of Virtus Investment Partners worth $891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in shares of Virtus Investment Partners by 79.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 280 shares of the closed-end fund’s stock worth $48,000 after buying an additional 124 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Virtus Investment Partners by 266.8% during the 2nd quarter. Verition Fund Management LLC now owns 23,824 shares of the closed-end fund’s stock valued at $4,074,000 after purchasing an additional 17,329 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Virtus Investment Partners by 538.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,108 shares of the closed-end fund’s stock valued at $336,000 after purchasing an additional 1,778 shares during the last quarter. Truist Financial Corp increased its position in shares of Virtus Investment Partners by 20.6% during the 3rd quarter. Truist Financial Corp now owns 15,994 shares of the closed-end fund’s stock valued at $2,551,000 after purchasing an additional 2,728 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Virtus Investment Partners during the 3rd quarter valued at $52,000. 80.91% of the stock is currently owned by institutional investors.

Virtus Investment Partners Stock Performance

Shares of VRTS stock opened at $173.07 on Tuesday. The firm has a market cap of $1.24 billion, a P/E ratio of 11.14 and a beta of 1.63. Virtus Investment Partners, Inc. has a fifty-two week low of $141.80 and a fifty-two week high of $249.37. The business’s 50 day moving average price is $210.43 and its 200-day moving average price is $191.21.

Virtus Investment Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be given a dividend of $1.65 per share. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $6.60 annualized dividend and a dividend yield of 3.81%. Virtus Investment Partners’s dividend payout ratio is presently 42.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VRTS shares. Morgan Stanley increased their price target on Virtus Investment Partners from $134.00 to $150.00 and gave the stock an “underweight” rating in a research note on Thursday, January 19th. Piper Sandler cut Virtus Investment Partners from an “overweight” rating to a “neutral” rating and set a $248.00 price target on the stock. in a report on Monday, February 6th.

About Virtus Investment Partners

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Virtus Investment Partners, Inc is an asset management company, which engages in the provision of investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional, closed-end funds, Virtus variable insurance trust funds, and other portfolio.