Virtus Investment Partners (NASDAQ:VRTS) Issues Quarterly Earnings Results

Virtus Investment Partners (NASDAQ:VRTS) issued its quarterly earnings data on Friday. The closed-end fund reported $5.41 earnings per share for the quarter, hitting the consensus estimate of $5.41, reports. The firm had revenue of $200.24 million for the quarter, compared to analysts’ expectations of $203.54 million. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.68%.

Virtus Investment Partners Stock Down 1.4 %

VRTS stock opened at $227.58 on Monday. The company’s 50-day moving average price is $235.74 and its two-hundred day moving average price is $221.94. Virtus Investment Partners has a 12 month low of $165.00 and a 12 month high of $263.39. The firm has a market cap of $1.63 billion, a P/E ratio of 13.71 and a beta of 1.52.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $1.90 per share. The ex-dividend date is Monday, April 29th. This represents a $7.60 dividend on an annualized basis and a yield of 3.34%. Virtus Investment Partners’s payout ratio is 45.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. TD Cowen cut Virtus Investment Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $285.00 to $264.00 in a research report on Monday, April 8th. Piper Sandler upped their price objective on Virtus Investment Partners from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Finally, Morgan Stanley boosted their target price on Virtus Investment Partners from $211.00 to $224.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th.

Institutional Trading of Virtus Investment Partners

Several large investors have recently made changes to their positions in VRTS. Signaturefd LLC increased its holdings in Virtus Investment Partners by 44.9% in the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock worth $35,000 after purchasing an additional 53 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Virtus Investment Partners by 550.0% in the fourth quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock valued at $44,000 after buying an additional 154 shares during the period. Everence Capital Management Inc. bought a new position in Virtus Investment Partners in the 4th quarter valued at approximately $222,000. QRG Capital Management Inc. bought a new position in Virtus Investment Partners in the 4th quarter valued at approximately $250,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Virtus Investment Partners during the 3rd quarter worth approximately $285,000. Institutional investors and hedge funds own 80.52% of the company’s stock.

Virtus Investment Partners Company 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.