Raymond James & Associates Purchases 1,679 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Raymond James & Associates lifted its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 33.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,677 shares of the closed-end fund’s stock after buying an additional 1,679 shares during the period. Raymond James & Associates’ holdings in Virtus Investment Partners were worth $2,072,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vulcan Value Partners LLC increased its holdings in Virtus Investment Partners by 6.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 295,579 shares of the closed-end fund’s stock worth $82,103,000 after purchasing an additional 16,939 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Virtus Investment Partners by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 530,176 shares of the closed-end fund’s stock worth $147,267,000 after purchasing an additional 5,338 shares in the last quarter. Profund Advisors LLC acquired a new position in shares of Virtus Investment Partners during the 2nd quarter worth about $218,000. Maryland State Retirement & Pension System acquired a new position in shares of Virtus Investment Partners during the 3rd quarter worth about $890,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Virtus Investment Partners during the 2nd quarter worth about $1,757,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Shares of NASDAQ:VRTS opened at $284.30 on Friday. Virtus Investment Partners, Inc. has a 52-week low of $200.94 and a 52-week high of $338.80. The company has a market capitalization of $2.16 billion, a P/E ratio of 11.30 and a beta of 1.52. The company has a 50-day simple moving average of $300.60 and a 200 day simple moving average of $299.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 15.51 and a current ratio of 15.51.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Wednesday, October 27th. The closed-end fund reported $9.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $9.61 by $0.10. Virtus Investment Partners had a net margin of 22.79% and a return on equity of 32.07%. The business had revenue of $217.67 million during the quarter, compared to the consensus estimate of $219.35 million. During the same period last year, the business posted $4.49 EPS. As a group, equities analysts forecast that Virtus Investment Partners, Inc. will post 35.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 11th. Investors of record on Friday, January 28th will be paid a $1.50 dividend. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.82. This represents a $6.00 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, January 27th. Virtus Investment Partners’s dividend payout ratio (DPR) is 23.85%.

Separately, Zacks Investment Research upgraded shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a research note on Thursday.

In related news, EVP William Patrick Bradley III sold 459 shares of the firm’s stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $327.49, for a total value of $150,317.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry M. Mandinach sold 5,210 shares of the firm’s stock in a transaction that occurred on Tuesday, December 14th. The stock was sold at an average price of $286.25, for a total transaction of $1,491,362.50. The disclosure for this sale can be found here. Insiders sold a total of 5,969 shares of company stock valued at $1,741,805 over the last quarter. 5.50% of the stock is currently owned by company insiders.

About Virtus Investment Partners

Virtus Investment Partners, Inc is an asset management company, which engages in the provision of investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional, closed-end funds, Virtus variable insurance trust funds, and other portfolio.

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

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