TIAA CREF Investment Management LLC cut its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 21.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,912 shares of the closed-end fund’s stock after selling 3,689 shares during the period. TIAA CREF Investment Management LLC’s holdings in Virtus Investment Partners were worth $1,473,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of VRTS. Norges Bank bought a new position in Virtus Investment Partners during the fourth quarter valued at $5,237,000. Louisiana State Employees Retirement System boosted its position in Virtus Investment Partners by 18.2% in the first quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the closed-end fund’s stock valued at $275,000 after buying an additional 400 shares during the period. Palisade Capital Management LLC NJ bought a new position in Virtus Investment Partners during the first quarter valued at $291,000. Dalton Greiner Hartman Maher & Co. boosted its position in Virtus Investment Partners by 6.7% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 10,955 shares of the closed-end fund’s stock valued at $1,160,000 after buying an additional 688 shares during the period. Finally, Nationwide Fund Advisors boosted its position in Virtus Investment Partners by 21.6% in the first quarter. Nationwide Fund Advisors now owns 11,341 shares of the closed-end fund’s stock valued at $1,201,000 after buying an additional 2,013 shares during the period. Hedge funds and other institutional investors own 98.32% of the company’s stock.

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) traded down 0.22% during mid-day trading on Friday, hitting $111.05. 40,542 shares of the company’s stock traded hands. The firm has a 50-day moving average of $113.71 and a 200 day moving average of $108.72. The company has a market cap of $801.45 million, a PE ratio of 21.61 and a beta of 1.72. Virtus Investment Partners, Inc. has a 52 week low of $87.03 and a 52 week high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.05. The business had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. Virtus Investment Partners’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 EPS. Equities research analysts predict that Virtus Investment Partners, Inc. will post $7.58 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, July 27th. Virtus Investment Partners’s payout ratio is currently 35.02%.

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VRTS has been the subject of several research analyst reports. Jefferies Group LLC set a $110.00 price objective on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research report on Sunday, April 30th. Morgan Stanley initiated coverage on shares of Virtus Investment Partners in a research report on Thursday, June 1st. They issued an “equal weight” rating and a $105.00 price objective for the company. Zacks Investment Research cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Credit Suisse Group upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $141.00 to $147.00 in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Virtus Investment Partners currently has a consensus rating of “Hold” and a consensus price target of $119.80.

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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Institutional Ownership by Quarter for Virtus Investment Partners (NASDAQ:VRTS)

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