Bank of America Corp DE raised its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,246 shares of the closed-end fund's stock after acquiring an additional 1,876 shares during the period. Bank of America Corp DE owned approximately 0.43% of Virtus Investment Partners worth $6,672,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Virtus Investment Partners by 170.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock valued at $44,000 after acquiring an additional 126 shares during the last quarter. R Squared Ltd acquired a new stake in Virtus Investment Partners in the 4th quarter valued at about $75,000. KBC Group NV grew its stake in shares of Virtus Investment Partners by 61.2% in the 4th quarter. KBC Group NV now owns 395 shares of the closed-end fund's stock valued at $87,000 after buying an additional 150 shares during the period. Trexquant Investment LP purchased a new stake in shares of Virtus Investment Partners in the 4th quarter valued at approximately $209,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Virtus Investment Partners in the 4th quarter valued at approximately $249,000. Institutional investors and hedge funds own 80.52% of the company's stock.
Virtus Investment Partners Trading Up 0.1%
Shares of NASDAQ:VRTS traded up $0.11 during mid-day trading on Friday, reaching $171.54. 219,518 shares of the company were exchanged, compared to its average volume of 41,226. 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 firm has a market cap of $1.19 billion, a price-to-earnings ratio of 10.15 and a beta of 1.47. The firm's 50-day simple moving average is $162.43 and its 200 day simple moving average is $192.75. Virtus Investment Partners, Inc. has a 1 year low of $142.18 and a 1 year high of $252.82.
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 earnings per share for the quarter, topping analysts' consensus estimates of $5.68 by $0.05. The firm had revenue of $217.93 million during the quarter, compared to analysts' expectations 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 quarter last year, the company posted $5.41 EPS. Equities research analysts forecast that Virtus Investment Partners, Inc. will post 27.7 EPS for the current year.
Virtus Investment Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.25%. Virtus Investment Partners's payout ratio is currently 53.41%.
Analysts Set New Price Targets
Several research firms have recently weighed in on VRTS. Wall Street Zen raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Piper Sandler dropped their price target on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. TD Cowen dropped their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. 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. Finally, Morgan Stanley increased 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 note on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $167.75.
Check Out Our Latest Stock Analysis on VRTS
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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