Victory Capital Management Inc. trimmed its position in Virtus Investment Partners Inc (NASDAQ:VRTS) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,563 shares of the closed-end fund’s stock after selling 26,075 shares during the quarter. Victory Capital Management Inc. owned 5.52% of Virtus Investment Partners worth $44,995,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in VRTS. Vulcan Value Partners LLC raised its holdings in shares of Virtus Investment Partners by 106.9% in the 2nd quarter. Vulcan Value Partners LLC now owns 533,272 shares of the closed-end fund’s stock worth $69,475,000 after purchasing an additional 275,535 shares during the period. BlackRock Inc. grew its stake in shares of Virtus Investment Partners by 9.3% in the second quarter. BlackRock Inc. now owns 1,016,158 shares of the closed-end fund’s stock valued at $130,017,000 after buying an additional 86,152 shares in the last quarter. Millennium Management LLC grew its stake in shares of Virtus Investment Partners by 183.9% in the second quarter. Millennium Management LLC now owns 93,920 shares of the closed-end fund’s stock valued at $12,017,000 after buying an additional 60,838 shares in the last quarter. New Amsterdam Partners LLC NY acquired a new stake in shares of Virtus Investment Partners in the second quarter valued at about $4,545,000. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Virtus Investment Partners by 26.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 41,979 shares of the closed-end fund’s stock valued at $5,372,000 after buying an additional 8,676 shares in the last quarter. Institutional investors own 97.51% of the company’s stock.
VRTS stock opened at $103.42 on Friday. The company has a quick ratio of 27.62, a current ratio of 27.62 and a debt-to-equity ratio of 0.46. Virtus Investment Partners Inc has a 1 year low of $96.22 and a 1 year high of $138.02. The stock has a market capitalization of $734.74 million, a PE ratio of 13.47, a P/E/G ratio of 0.34 and a beta of 1.40.
Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, October 26th. The closed-end fund reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.30. Virtus Investment Partners had a return on equity of 19.38% and a net margin of 14.55%. The business had revenue of $152.20 million during the quarter, compared to analyst estimates of $149.06 million. During the same quarter last year, the firm earned $2.30 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities analysts predict that Virtus Investment Partners Inc will post 12.4 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $0.45. Virtus Investment Partners’s dividend payout ratio (DPR) is 28.65%.
A number of research firms have recently issued reports on VRTS. Zacks Investment Research lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. BidaskClub upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. Credit Suisse Group set a $150.00 target price on Virtus Investment Partners and gave the company a “buy” rating in a research note on Monday, October 29th. Barclays lowered their target price on Virtus Investment Partners from $140.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, October 29th. Finally, Sandler O’Neill set a $140.00 target price on Virtus Investment Partners and gave the company a “hold” rating in a research note on Friday, July 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $134.67.
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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.
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