Cwm LLC Has $387,000 Position in Virtus Investment Partners, Inc. $VRTS

Cwm LLC lifted its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 910.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,133 shares of the closed-end fund's stock after acquiring an additional 1,922 shares during the period. Cwm LLC's holdings in Virtus Investment Partners were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VRTS. Hilltop National Bank bought a new stake in Virtus Investment Partners in the 2nd quarter valued at about $26,000. Farther Finance Advisors LLC increased its position in Virtus Investment Partners by 14,100.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 142 shares of the closed-end fund's stock valued at $26,000 after buying an additional 141 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in Virtus Investment Partners in the 2nd quarter valued at about $31,000. Signaturefd LLC increased its position in Virtus Investment Partners by 30.2% in the 1st quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock valued at $63,000 after buying an additional 85 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Virtus Investment Partners in the 1st quarter valued at about $93,000. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Stock Performance

NASDAQ VRTS opened at $166.69 on Friday. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $191.49 and a two-hundred day simple moving average of $182.88. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 9.86 and a beta of 1.43. Virtus Investment Partners, Inc. has a 12-month low of $142.18 and a 12-month high of $252.82.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its earnings results on Friday, July 25th. The closed-end fund reported $6.25 earnings per share for the quarter, topping analysts' consensus estimates of $6.17 by $0.08. The company had revenue of $210.53 million during the quarter, compared to analyst estimates of $191.90 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 prior year, the business posted $6.53 earnings per share. On average, equities analysts forecast that Virtus Investment Partners, Inc. will post 27.7 EPS for the current year.

Virtus Investment Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a $2.40 dividend. This represents a $9.60 annualized dividend and a yield of 5.8%. This is a boost from Virtus Investment Partners's previous quarterly dividend of $2.25. The ex-dividend date is Friday, October 31st. Virtus Investment Partners's dividend payout ratio (DPR) is 46.74%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VRTS. Piper Sandler boosted their target price on Virtus Investment Partners from $211.00 to $234.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Barclays dropped their price objective on Virtus Investment Partners from $190.00 to $175.00 and set an "underweight" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley lowered their target price on shares of Virtus Investment Partners from $180.00 to $170.00 and set an "underweight" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $184.25.

About Virtus Investment Partners

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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