Bridgeway Capital Management LLC lessened its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 19.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,456 shares of the closed-end fund's stock after selling 6,232 shares during the quarter. Bridgeway Capital Management LLC owned 0.36% of Virtus Investment Partners worth $5,615,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of VRTS. Norges Bank bought a new position in shares of Virtus Investment Partners during the 4th quarter worth approximately $9,503,000. Charles Schwab Investment Management Inc. lifted its holdings in Virtus Investment Partners by 8.4% during 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 acquiring an additional 21,344 shares during the period. American Century Companies Inc. boosted its position in Virtus Investment Partners by 33.6% in the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock worth $18,030,000 after purchasing an additional 20,544 shares during the last quarter. Zacks Investment Management bought a new position in Virtus Investment Partners in the 4th quarter valued at $3,124,000. Finally, JPMorgan Chase & Co. increased its position in shares of Virtus Investment Partners by 8.7% during the 4th 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. Institutional investors and hedge funds own 80.52% of the company's stock.
Analysts Set New Price Targets
VRTS has been the topic of a number of research analyst reports. TD Cowen cut 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 report on Wednesday, April 9th. StockNews.com downgraded shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Piper Sandler dropped their price objective on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley lifted their target price on shares of Virtus Investment Partners from $149.00 to $152.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 6th. Finally, Barclays set a $150.00 price target on shares of Virtus Investment Partners and gave the company an "underweight" rating in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $167.75.
Check Out Our Latest Stock Report on Virtus Investment Partners
Virtus Investment Partners Price Performance
NASDAQ VRTS traded up $4.92 during trading on Tuesday, reaching $177.34. The company's stock had a trading volume of 13,561 shares, compared to its average volume of 40,051. The firm has a fifty day moving average of $163.18 and a 200 day moving average of $197.99. Virtus Investment Partners, Inc. has a one year low of $142.18 and a one year high of $252.82. The stock has a market capitalization of $1.23 billion, a PE ratio of 10.49 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.05. The business 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 business posted $5.41 earnings per share. Analysts expect that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.
Virtus Investment Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio (DPR) is presently 53.41%.
About Virtus Investment Partners
(
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.
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