Invesco Ltd. Buys 1,653 Shares of Virtus Investment Partners, Inc. $VRTS

Key Points

• Invesco Ltd. increased its stake in Virtus Investment Partners by 5.6%, acquiring an additional 1,653 shares in the first quarter, bringing its total ownership to 31,427 shares valued at $5.4 million.
• Virtus Investment Partners will pay a quarterly dividend of $2.40 on November 14th, up from $2.25, representing a yield of 4.8% based on an annualized payout of $9.60.
• Analyst price targets for Virtus Investment Partners range widely, with Piper Sandler setting a new high of $234.00 and Morgan Stanley marking a low of $171.00 for the stock.

Invesco Ltd. grew its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,427 shares of the closed-end fund's stock after acquiring an additional 1,653 shares during the quarter. Invesco Ltd. owned 0.45% of Virtus Investment Partners worth $5,417,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Signaturefd LLC increased its stake in Virtus Investment Partners by 30.2% in the first quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock valued at $63,000 after purchasing an additional 85 shares in the last quarter. Man Group plc increased its position in shares of Virtus Investment Partners by 0.5% in the 4th quarter. Man Group plc now owns 29,390 shares of the closed-end fund's stock valued at $6,483,000 after buying an additional 146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Virtus Investment Partners by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,849 shares of the closed-end fund's stock valued at $849,000 after buying an additional 152 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Virtus Investment Partners by 4.5% in the fourth quarter. Vident Advisory LLC now owns 4,057 shares of the closed-end fund's stock worth $895,000 after acquiring an additional 175 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Virtus Investment Partners by 0.9% in the fourth quarter. Ameriprise Financial Inc. now owns 24,921 shares of the closed-end fund's stock worth $5,497,000 after acquiring an additional 228 shares in the last quarter. Institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Stock Up 0.9%

Virtus Investment Partners stock opened at $201.86 on Thursday. The company has a market cap of $1.36 billion, a P/E ratio of 11.94 and a beta of 1.41. Virtus Investment Partners, Inc. has a 1-year low of $142.18 and a 1-year high of $252.82. The company has a fifty day simple moving average of $195.33 and a 200 day simple moving average of $178.64. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27.

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 for the quarter, beating the consensus estimate of $6.17 by $0.08. The company had revenue of $210.53 million during 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 quarter last year, the company earned $6.53 EPS. Research analysts anticipate that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.

Virtus Investment Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $2.40 dividend. This is a positive change from Virtus Investment Partners's previous quarterly dividend of $2.25. This represents a $9.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, October 31st. Virtus Investment Partners's dividend payout ratio is 46.74%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Virtus Investment Partners from $211.00 to $234.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. 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. Barclays increased their target price on Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Virtus Investment Partners has an average rating of "Reduce" and an average price target of $188.25.

Virtus Investment Partners 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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