Swiss National Bank boosted its position in Virtus Investment Partners Inc (NASDAQ:VRTS) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,300 shares of the closed-end fund’s stock after buying an additional 1,000 shares during the quarter. Swiss National Bank owned approximately 0.17% of Virtus Investment Partners worth $1,415,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in VRTS. Crossmark Global Holdings Inc. bought a new position in Virtus Investment Partners in the third quarter valued at approximately $204,000. Cubist Systematic Strategies LLC grew its stake in Virtus Investment Partners by 1,798.9% in the third quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after purchasing an additional 1,709 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Virtus Investment Partners in the fourth quarter valued at approximately $287,000. Municipal Employees Retirement System of Michigan grew its stake in Virtus Investment Partners by 73.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Virtus Investment Partners by 17.5% in the second quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after purchasing an additional 427 shares in the last quarter. 95.81% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on VRTS. BidaskClub upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. TheStreet downgraded Virtus Investment Partners from a “b” rating to a “c+” rating in a research note on Wednesday, February 14th. Sandler O’Neill set a $131.00 target price on Virtus Investment Partners and gave the stock a “hold” rating in a research note on Monday, February 12th. Morgan Stanley lifted their target price on Virtus Investment Partners from $127.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Credit Suisse Group lifted their target price on Virtus Investment Partners from $166.00 to $173.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $139.00.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.18. Virtus Investment Partners had a return on equity of 13.75% and a net margin of 8.70%. The company had revenue of $128.00 million during the quarter, compared to the consensus estimate of $127.09 million. During the same period in the previous year, the company posted $1.75 EPS. The firm’s revenue for the quarter was up 60.2% compared to the same quarter last year. research analysts anticipate that Virtus Investment Partners Inc will post 12.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.80 annualized dividend and a yield of 1.37%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.57%.
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About Virtus Investment Partners
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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