Algert Global LLC Purchases 1,870 Shares of Virtus Investment Partners, Inc. $VRTS

Key Points

• Algert Global LLC increased its holdings in Virtus Investment Partners by 6.9% during the first quarter, acquiring an additional 1,870 shares to reach a total of 28,787 shares valued at approximately $4.96 million.
• Virtus Investment Partners announced a quarterly dividend of $2.40 per share, increasing from a previous $2.25, with a yield of 5.0% based on the annual payout.
• The company's stock has a price-to-earnings ratio of 11.40 and a market capitalization of $1.30 billion, with projections suggesting an EPS of 27.7 for the current year.

Algert Global LLC increased its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,787 shares of the closed-end fund's stock after purchasing an additional 1,870 shares during the period. Algert Global LLC owned approximately 0.42% of Virtus Investment Partners worth $4,962,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of VRTS. Signaturefd LLC grew its holdings in shares of Virtus Investment Partners by 30.2% during the first quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock valued at $63,000 after buying an additional 85 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Virtus Investment Partners in the first quarter valued at approximately $219,000. R Squared Ltd boosted its position in shares of Virtus Investment Partners by 311.8% during the first quarter. R Squared Ltd now owns 1,400 shares of the closed-end fund's stock valued at $241,000 after buying an additional 1,060 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in Virtus Investment Partners during the first quarter worth $253,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Virtus Investment Partners in the 4th quarter valued at $280,000. Institutional investors and hedge funds own 80.52% of the company's stock.

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $192.63 on Tuesday. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The business's 50 day simple moving average is $192.35 and its 200 day simple moving average is $178.28. Virtus Investment Partners, Inc. has a 12 month low of $142.18 and a 12 month high of $252.82. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 11.40 and a beta of 1.41.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The closed-end fund reported $6.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.17 by $0.08. The business had revenue of $210.53 million for the quarter, compared to analysts' expectations of $191.90 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same period in the previous year, the business posted $6.53 EPS. Sell-side analysts forecast that Virtus Investment Partners, Inc. will post 27.7 EPS for the current year.

Virtus Investment Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $2.40 dividend. The ex-dividend date is Friday, October 31st. This represents a $9.60 dividend on an annualized basis and a yield of 5.0%. This is a positive change from Virtus Investment Partners's previous quarterly dividend of $2.25. Virtus Investment Partners's dividend payout ratio (DPR) is presently 46.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VRTS shares. Morgan Stanley set a $171.00 target price on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Piper Sandler boosted their target price on Virtus Investment Partners from $211.00 to $234.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Barclays increased their price target on Virtus Investment Partners from $150.00 to $190.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $188.25.

Virtus Investment Partners Company 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.

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