TD Cowen Boosts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $250.00

Virtus Investment Partners (NASDAQ:VRTS) had its price objective lifted by TD Cowen from $245.00 to $250.00 in a report published on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the closed-end fund’s stock.

Several other brokerages have also recently issued reports on VRTS. Morgan Stanley upped their price objective on Virtus Investment Partners from $211.00 to $224.00 and gave the company an underweight rating in a research note on Wednesday, April 17th. Piper Sandler lowered their target price on Virtus Investment Partners from $275.00 to $265.00 and set an overweight rating for the company in a report on Monday. Finally, StockNews.com lowered Virtus Investment Partners from a buy rating to a hold rating in a report on Tuesday, April 9th.

Virtus Investment Partners Stock Up 1.2 %

Shares of NASDAQ VRTS opened at $222.01 on Monday. The stock’s 50 day moving average price is $235.11 and its two-hundred day moving average price is $222.46. Virtus Investment Partners has a 52-week low of $165.00 and a 52-week high of $263.39. The stock has a market capitalization of $1.59 billion, a P/E ratio of 13.37 and a beta of 1.52.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data 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 19.68% and a net margin of 14.02%. The firm had revenue of $200.24 million for the quarter, compared to analysts’ expectations of $203.54 million. On average, analysts anticipate that Virtus Investment Partners will post 27.04 EPS for the current year.

Virtus Investment Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is 45.78%.

Hedge Funds Weigh In On Virtus Investment Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRTS. SG Americas Securities LLC bought a new position in Virtus Investment Partners in the 3rd quarter worth approximately $757,000. Bank of New York Mellon Corp lifted its position in shares of Virtus Investment Partners by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,720 shares of the closed-end fund’s stock valued at $21,152,000 after acquiring an additional 557 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Virtus Investment Partners by 3.3% during the 3rd quarter. Brown Advisory Inc. now owns 89,496 shares of the closed-end fund’s stock valued at $18,077,000 after acquiring an additional 2,836 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Virtus Investment Partners by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,650 shares of the closed-end fund’s stock valued at $333,000 after acquiring an additional 65 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Virtus Investment Partners by 23.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,043 shares of the closed-end fund’s stock valued at $615,000 after acquiring an additional 570 shares during the last quarter. 80.52% of the stock is owned by institutional investors.

About Virtus Investment Partners

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.