Victory Capital Management Inc. decreased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 0.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 425,916 shares of the closed-end fund’s stock after selling 900 shares during the quarter. Victory Capital Management Inc. owned 5.90% of Virtus Investment Partners worth $49,428,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. UBS Asset Management Americas Inc. acquired a new stake in Virtus Investment Partners during the 1st quarter valued at approximately $264,000. Parametric Portfolio Associates LLC lifted its stake in Virtus Investment Partners by 10.1% during the 1st quarter. Parametric Portfolio Associates LLC now owns 4,558 shares of the closed-end fund’s stock valued at $483,000 after acquiring an additional 419 shares in the last quarter. Prudential Financial Inc. lifted its stake in Virtus Investment Partners by 14.8% during the 1st quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock valued at $1,188,000 after acquiring an additional 1,448 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Virtus Investment Partners by 14.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock valued at $156,000 after purchasing an additional 190 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Virtus Investment Partners by 25.4% during the 1st quarter. OppenheimerFunds Inc. now owns 2,288 shares of the closed-end fund’s stock valued at $243,000 after purchasing an additional 464 shares during the last quarter. 95.57% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners, Inc. (NASDAQ VRTS) opened at $116.25 on Monday. The firm has a market capitalization of $839.08, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 0.61 and a beta of 1.86. The company has a quick ratio of 19.32, a current ratio of 19.32 and a debt-to-equity ratio of 0.52.
Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a return on equity of 13.33% and a net margin of 11.64%. The business had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $116.85 million. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’s quarterly revenue was up 50.3% compared to the same quarter last year. analysts forecast that Virtus Investment Partners, Inc. will post 7.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. Virtus Investment Partners’s dividend payout ratio is presently 33.58%.
VRTS has been the subject of a number of recent analyst reports. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Morgan Stanley set a $123.00 price target on Virtus Investment Partners and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Barclays PLC started coverage on Virtus Investment Partners in a research note on Friday, September 8th. They issued an “equal weight” rating and a $113.00 price target on the stock. ValuEngine cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $117.00 target price on shares of Virtus Investment Partners in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $130.50.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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