Edgestream Partners L.P. bought a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,103 shares of the closed-end fund's stock, valued at approximately $1,052,000. Edgestream Partners L.P. owned 0.09% of Virtus Investment Partners at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. MQS Management LLC bought a new stake in Virtus Investment Partners during the first quarter worth approximately $283,000. Principal Financial Group Inc. raised its stake in Virtus Investment Partners by 3.4% during the first quarter. Principal Financial Group Inc. now owns 39,629 shares of the closed-end fund's stock worth $6,830,000 after acquiring an additional 1,290 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Virtus Investment Partners by 55.3% during the first quarter. Teacher Retirement System of Texas now owns 14,035 shares of the closed-end fund's stock worth $2,419,000 after acquiring an additional 4,999 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Virtus Investment Partners by 35.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,957 shares of the closed-end fund's stock valued at $510,000 after buying an additional 781 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Virtus Investment Partners by 11.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,376 shares of the closed-end fund's stock worth $931,000 after purchasing an additional 558 shares during the period. Institutional investors and hedge funds own 80.52% of the company's stock.
Virtus Investment Partners Price Performance
Shares of VRTS stock traded down $2.72 during trading hours on Friday, hitting $207.61. The stock had a trading volume of 64,694 shares, compared to its average volume of 53,847. The stock's 50-day moving average price is $182.02 and its two-hundred day moving average price is $180.47. 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, Inc. has a one year low of $142.18 and a one year high of $252.82. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 12.28 and a beta of 1.44.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $0.05. The company had revenue of $217.93 million for the quarter, compared to analysts' expectations of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same quarter in the prior year, the firm earned $5.41 earnings per share. Equities 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. Shareholders of record on Thursday, July 31st will be paid 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 4.34%. Virtus Investment Partners's payout ratio is currently 53.41%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on VRTS. Barclays upped their price objective on Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research note on Wednesday. Piper Sandler decreased their price target on 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. Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Finally, TD Cowen reduced their price target on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $182.50.
View Our Latest Analysis on VRTS
Virtus Investment Partners Profile
(
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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