Norges Bank acquired a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,594 shares of the closed-end fund's stock, valued at approximately $14,649,000. Norges Bank owned about 0.84% of Virtus Investment Partners as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. purchased a new position in shares of Virtus Investment Partners in the fourth quarter worth $250,000. Teacher Retirement System of Texas increased its holdings in Virtus Investment Partners by 31.2% in the 4th quarter. Teacher Retirement System of Texas now owns 3,992 shares of the closed-end fund's stock worth $965,000 after acquiring an additional 949 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Virtus Investment Partners by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 96,081 shares of the closed-end fund's stock worth $23,229,000 after purchasing an additional 1,715 shares during the period. Summit Global Investments boosted its position in shares of Virtus Investment Partners by 66.3% during the 4th quarter. Summit Global Investments now owns 6,263 shares of the closed-end fund's stock valued at $1,514,000 after acquiring an additional 2,496 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in Virtus Investment Partners by 33.3% during the 4th quarter. Chase Investment Counsel Corp now owns 4,800 shares of the closed-end fund's stock valued at $1,160,000 after buying an additional 1,200 shares during the period. Institutional investors own 80.52% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on VRTS. TD Cowen raised their price target on Virtus Investment Partners from $245.00 to $250.00 and gave the stock a "hold" rating in a report on Monday, April 29th. Morgan Stanley boosted their price objective on Virtus Investment Partners from $211.00 to $224.00 and gave the stock an "underweight" rating in a research note on Wednesday, April 17th. StockNews.com cut Virtus Investment Partners from a "buy" rating to a "hold" rating in a report on Tuesday, April 9th. Finally, Piper Sandler increased their price target on Virtus Investment Partners from $265.00 to $267.00 and gave the company an "overweight" rating in a research report on Wednesday, May 29th.
View Our Latest Report on VRTS
Virtus Investment Partners Price Performance
Shares of NASDAQ:VRTS traded down $4.62 on Tuesday, reaching $225.38. 19,549 shares of the company traded hands, compared to its average volume of 49,334. The company's 50 day moving average is $231.85 and its 200-day moving average is $229.97. The stock has a market capitalization of $1.61 billion, a PE ratio of 13.58 and a beta of 1.46. Virtus Investment Partners, Inc. has a fifty-two week low of $168.78 and a fifty-two week high of $263.39.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $5.41. Virtus Investment Partners had a return on equity of 19.61% and a net margin of 14.02%. The company had revenue of $200.24 million for the quarter, compared to the consensus estimate of $203.54 million. As a group, analysts expect that Virtus Investment Partners, Inc. will post 26.58 EPS for the current year.
Virtus Investment Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Wednesday, July 31st. Virtus Investment Partners's dividend payout ratio is presently 45.78%.
Insider Activity
In other Virtus Investment Partners news, EVP Barry M. Mandinach sold 7,886 shares of the business's stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $234.00, for a total transaction of $1,845,324.00. Following the sale, the executive vice president now directly owns 12,418 shares of the company's stock, valued at approximately $2,905,812. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by company insiders.
Virtus Investment Partners Company Profile
(Free Report)
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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