Millennium Management LLC lowered its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 53,054 shares of the closed-end fund's stock after selling 2,319 shares during the quarter. Millennium Management LLC owned about 0.76% of Virtus Investment Partners worth $11,703,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. grew its holdings in shares of Virtus Investment Partners by 2,902.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,423 shares of the closed-end fund's stock worth $763,000 after purchasing an additional 3,309 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Virtus Investment Partners by 17.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,818 shares of the closed-end fund's stock worth $1,074,000 after acquiring an additional 733 shares during the period. Barclays PLC boosted its holdings in Virtus Investment Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 14,119 shares of the closed-end fund's stock worth $2,957,000 after acquiring an additional 9,488 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Virtus Investment Partners by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock worth $61,074,000 after acquiring an additional 21,344 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Virtus Investment Partners in the 4th quarter worth approximately $353,000. Hedge funds and other institutional investors own 80.52% of the company's stock.
Virtus Investment Partners Stock Up 0.8%
Shares of Virtus Investment Partners stock traded up $1.32 on Thursday, hitting $172.54. 4,995 shares of the company's stock traded hands, compared to its average volume of 40,454. 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 stock has a market cap of $1.19 billion, a P/E ratio of 10.21 and a beta of 1.47. Virtus Investment Partners, Inc. has a 52-week low of $142.18 and a 52-week high of $252.82. The firm's 50-day moving average is $162.68 and its 200 day moving average is $194.06.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.05. The business had revenue of $217.93 million for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $5.41 EPS. Equities analysts anticipate that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current year.
Virtus Investment Partners Announces Dividend
The company also recently declared 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. This represents a $9.00 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 31st. Virtus Investment Partners's dividend payout ratio is currently 53.41%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on VRTS shares. Barclays set a $150.00 price target on Virtus Investment Partners and gave the stock an "underweight" rating in a report on Monday, April 28th. 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 report on Thursday, April 17th. Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, May 19th. TD Cowen decreased their price target on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Morgan Stanley upped their price target on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an "underweight" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $167.75.
Check Out Our Latest Report on VRTS
Virtus Investment Partners Company 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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