Shares of Virtus Investment Partners Inc. (NASDAQ:VRTS) shot up 4.2% during mid-day trading on Friday . The company traded as high as $83.24 and last traded at $82.71, with a volume of 75,345 shares trading hands. The stock had previously closed at $79.34.

A number of brokerages have issued reports on VRTS. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group AG upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Thursday. Finally, Sandler O’Neill reduced their price target on shares of Virtus Investment Partners from $91.00 to $71.00 in a report on Tuesday, April 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $78.33.

The firm has a market cap of $680.21 million and a PE ratio of 25.73. The firm has a 50 day moving average price of $77.27 and a 200-day moving average price of $83.25.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, April 29th. The closed-end fund reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. During the same period last year, the company posted $2.11 earnings per share. The firm had revenue of $80.30 million for the quarter, compared to analysts’ expectations of $81.08 million. The business’s quarterly revenue was down 22.6% on a year-over-year basis. Analysts anticipate that Virtus Investment Partners Inc. will post $5.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, July 27th.

A number of hedge funds have recently made changes to their positions in VRTS. Dimensional Fund Advisors LP increased its stake in shares of Virtus Investment Partners by 26.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 255,539 shares of the closed-end fund’s stock worth $30,016,000 after buying an additional 52,918 shares during the period. Matarin Capital Management LLC purchased a new stake in shares of Virtus Investment Partners during the fourth quarter worth about $1,934,000. Victory Capital Management Inc. increased its stake in shares of Virtus Investment Partners by 12.5% in the fourth quarter. Victory Capital Management Inc. now owns 248,296 shares of the closed-end fund’s stock worth $29,165,000 after buying an additional 27,680 shares during the period. Wells Fargo & Company MN increased its stake in shares of Virtus Investment Partners by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 368,243 shares of the closed-end fund’s stock worth $43,254,000 after buying an additional 8,379 shares during the period. Finally, Morgan Stanley increased its stake in shares of Virtus Investment Partners by 1,599.3% in the fourth quarter. Morgan Stanley now owns 94,889 shares of the closed-end fund’s stock worth $11,145,000 after buying an additional 89,305 shares during the period.

Virtus Investment Partners, Inc 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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