TD Cowen Cuts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $247.00

Virtus Investment Partners (NASDAQ:VRTSFree Report) had its price objective trimmed by TD Cowen from $250.00 to $247.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the closed-end fund’s stock.

VRTS has been the topic of a number of other reports. Morgan Stanley lifted their price target on Virtus Investment Partners from $211.00 to $224.00 and gave the stock an underweight rating in a research note on Wednesday, April 17th. lowered shares of Virtus Investment Partners from a buy rating to a hold rating in a report on Tuesday, April 9th. Finally, Piper Sandler increased their price target on shares of Virtus Investment Partners from $265.00 to $267.00 and gave the company an overweight rating in a research report on Wednesday, May 29th.

View Our Latest Report on VRTS

Virtus Investment Partners Stock Up 2.0 %

Virtus Investment Partners stock opened at $227.16 on Monday. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 13.68 and a beta of 1.46. The business has a 50-day simple moving average of $225.60 and a 200 day simple moving average of $232.28. Virtus Investment Partners has a 52 week low of $168.78 and a 52 week high of $263.39.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, meeting the consensus estimate of $5.41. 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 19.61%. On average, research analysts anticipate that Virtus Investment Partners will post 26.58 earnings per share for the current year.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Wednesday, July 31st. Virtus Investment Partners’s payout ratio is currently 45.78%.

Insiders Place Their Bets

In other news, EVP Barry M. Mandinach sold 7,886 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $234.00, for a total value of $1,845,324.00. Following the transaction, the executive vice president now directly owns 12,418 shares in the company, valued at approximately $2,905,812. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. CWM LLC raised its holdings in Virtus Investment Partners by 334.1% during the second quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock valued at $86,000 after acquiring an additional 294 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Virtus Investment Partners during the first quarter worth about $657,000. Tidal Investments LLC raised its stake in Virtus Investment Partners by 9.4% during the 1st quarter. Tidal Investments LLC now owns 1,048 shares of the closed-end fund’s stock valued at $260,000 after purchasing an additional 90 shares during the period. BOKF NA purchased a new position in Virtus Investment Partners in the 1st quarter worth approximately $282,000. Finally, Quadrature Capital Ltd boosted its stake in Virtus Investment Partners by 80.2% in the 1st quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock worth $5,825,000 after purchasing an additional 10,461 shares during the period. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Company Profile

(Get Free Report)

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.

Further Reading

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