Connor Clark & Lunn Investment Management Ltd. Invests $659,000 in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,987 shares of the closed-end fund’s stock, valued at approximately $659,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VRTS. Charles Schwab Investment Management Inc. increased its position in Virtus Investment Partners by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock worth $61,074,000 after acquiring an additional 21,344 shares during the period. Basswood Capital Management L.L.C. grew its holdings in shares of Virtus Investment Partners by 12.4% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 110,429 shares of the closed-end fund’s stock worth $23,129,000 after purchasing an additional 12,193 shares during the last quarter. Algert Global LLC grew its holdings in shares of Virtus Investment Partners by 57.1% in the 3rd quarter. Algert Global LLC now owns 26,167 shares of the closed-end fund’s stock worth $5,481,000 after purchasing an additional 9,508 shares during the last quarter. Barclays PLC grew its holdings in shares of Virtus Investment Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 14,119 shares of the closed-end fund’s stock worth $2,957,000 after purchasing an additional 9,488 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of Virtus Investment Partners by 592.0% in the 3rd quarter. Jane Street Group LLC now owns 9,218 shares of the closed-end fund’s stock worth $1,931,000 after purchasing an additional 7,886 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Shares of VRTS opened at $174.74 on Friday. The stock has a market capitalization of $1.22 billion, a P/E ratio of 10.34 and a beta of 1.49. Virtus Investment Partners, Inc. has a twelve month low of $167.13 and a twelve month high of $263.39. The company has a 50 day moving average of $190.08 and a 200-day moving average of $210.83. 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 Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $2.25 per share. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 5.15%. Virtus Investment Partners’s dividend payout ratio is currently 53.25%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VRTS. Barclays reduced their price target on shares of Virtus Investment Partners from $221.00 to $200.00 and set an “underweight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler cut their price target on shares of Virtus Investment Partners from $274.00 to $258.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley lowered their target price on Virtus Investment Partners from $211.00 to $198.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $225.75.

Virtus Investment Partners Profile

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.