Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Purchased by Summit Global Investments

Summit Global Investments raised its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 66.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,263 shares of the closed-end fund’s stock after acquiring an additional 2,496 shares during the quarter. Summit Global Investments owned 0.09% of Virtus Investment Partners worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Virtus Investment Partners by 29.2% during the 4th quarter. Signaturefd LLC now owns 221 shares of the closed-end fund’s stock valued at $53,000 after acquiring an additional 50 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in 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 worth $333,000 after purchasing an additional 65 shares in the last quarter. Swiss National Bank raised its stake in Virtus Investment Partners by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,000 shares of the closed-end fund’s stock valued at $3,232,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. boosted its position 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 worth $44,000 after buying an additional 154 shares during the period. Finally, Mariner LLC lifted its stake in Virtus Investment Partners by 12.2% in the 3rd quarter. Mariner LLC now owns 2,432 shares of the closed-end fund’s stock worth $491,000 after acquiring an additional 265 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Up 2.3 %

VRTS stock traded up $5.23 during midday trading on Friday, hitting $228.51. 25,173 shares of the company traded hands, compared to its average volume of 52,495. Virtus Investment Partners, Inc. has a twelve month low of $165.00 and a twelve month high of $263.39. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 13.77 and a beta of 1.50. The business has a 50 day simple moving average of $234.76 and a 200-day simple moving average of $222.79.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, hitting 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 business had revenue of $200.24 million during the quarter, compared to analysts’ expectations of $203.54 million. Equities research analysts forecast that Virtus Investment Partners, Inc. will post 26.43 EPS for the current year.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $1.90 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.33%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.78%.

Analysts Set New Price Targets

VRTS has been the topic of a number of research reports. TD Cowen upped their target price on Virtus Investment Partners from $245.00 to $250.00 and gave the company a “hold” rating in a report on Monday. Piper Sandler reduced their price objective on Virtus Investment Partners from $275.00 to $265.00 and set an “overweight” rating for the company in a research report on Monday. StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Morgan Stanley boosted their price target 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.

Virtus Investment Partners 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.