Bridgeway Capital Management LLC Cuts Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Bridgeway Capital Management LLC trimmed its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 19.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,456 shares of the closed-end fund's stock after selling 6,232 shares during the period. Bridgeway Capital Management LLC owned 0.36% of Virtus Investment Partners worth $5,615,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VRTS. Norges Bank bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth approximately $9,503,000. Charles Schwab Investment Management Inc. lifted its holdings in Virtus Investment Partners by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock worth $61,074,000 after buying an additional 21,344 shares during the period. American Century Companies Inc. boosted its position in shares of Virtus Investment Partners by 33.6% during the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock valued at $18,030,000 after purchasing an additional 20,544 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $3,124,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Virtus Investment Partners by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund's stock valued at $34,858,000 after purchasing an additional 12,642 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors.

Virtus Investment Partners Price Performance

Shares of NASDAQ VRTS traded down $1.48 during mid-day trading on Friday, hitting $165.01. 41,656 shares of the company's stock traded hands, compared to its average volume of 40,096. The company has a market capitalization of $1.14 billion, a P/E ratio of 9.76 and a beta of 1.47. Virtus Investment Partners, Inc. has a 1 year low of $142.18 and a 1 year high of $252.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The company's 50-day moving average is $163.35 and its two-hundred day moving average is $198.38.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, topping the consensus estimate of $5.68 by $0.05. The company had revenue of $217.93 million during the quarter, compared to analyst estimates of $201.99 million. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. During the same period in the previous year, the firm earned $5.41 earnings per share. On average, equities analysts anticipate that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $9.00 annualized dividend and a dividend yield of 5.45%. Virtus Investment Partners's dividend payout ratio (DPR) is 53.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on VRTS shares. TD Cowen dropped their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upped their price target on shares of Virtus Investment Partners from $149.00 to $152.00 and gave the company an "underweight" rating in a research report on Tuesday, May 6th. StockNews.com cut Virtus Investment Partners from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays set a $150.00 price objective on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Monday, April 28th. Finally, Piper Sandler lowered their price target on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $167.75.

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.