Virtus Investment Partners, Inc. $VRTS Shares Acquired by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its holdings in Virtus Investment Partners, owning approximately 0.12% of the company after a 38.7% boost in shares during the 1st quarter.
• Virtus Investment Partners recently announced a dividend increase to $2.40 per share, up from $2.25, with a scheduled payout date of November 14th.
• The company reported earnings of $6.25 per share for its last quarter, surpassing analysts' expectations and showcasing a strong revenue performance of $210.53 million.

Voya Investment Management LLC increased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 38.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,041 shares of the closed-end fund's stock after purchasing an additional 2,245 shares during the period. Voya Investment Management LLC owned approximately 0.12% of Virtus Investment Partners worth $1,386,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of VRTS. Bank of America Corp DE boosted its position in Virtus Investment Partners by 6.6% during the fourth quarter. Bank of America Corp DE now owns 30,246 shares of the closed-end fund's stock worth $6,672,000 after acquiring an additional 1,876 shares during 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 worth $849,000 after purchasing an additional 152 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Virtus Investment Partners by 1.8% in the 4th quarter. Nuveen Asset Management LLC now owns 45,632 shares of the closed-end fund's stock valued at $10,066,000 after buying an additional 795 shares during the period. ProShare Advisors LLC boosted its stake in Virtus Investment Partners by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 2,035 shares of the closed-end fund's stock valued at $449,000 after purchasing an additional 626 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in Virtus Investment Partners by 8.5% during the 4th quarter. Two Sigma Advisers LP now owns 7,700 shares of the closed-end fund's stock valued at $1,698,000 after purchasing an additional 600 shares during the period. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Stock Performance

Shares of NASDAQ:VRTS opened at $191.00 on Tuesday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 11.30 and a beta of 1.44. The firm's 50 day simple moving average is $197.32 and its 200 day simple moving average is $180.15. 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 fifty-two week low of $142.18 and a fifty-two week high of $252.82.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The closed-end fund reported $6.25 earnings per share for the quarter, beating analysts' consensus estimates of $6.17 by $0.08. The business had revenue of $210.53 million for the quarter, compared to the consensus estimate 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 last year, the company posted $6.53 EPS. As a group, sell-side analysts forecast that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current year.

Virtus Investment Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be issued a dividend of $2.40 per share. This is an increase from Virtus Investment Partners's previous quarterly dividend of $2.25. The ex-dividend date is Friday, October 31st. This represents a $9.60 annualized dividend and a yield of 5.0%. Virtus Investment Partners's dividend payout ratio is 46.74%.

Wall Street Analyst Weigh In

A number of research firms recently commented on VRTS. Piper Sandler boosted their target price on shares of 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 price objective on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a report on Wednesday, July 2nd. Finally, Barclays upped their target price on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Virtus Investment Partners has an average rating of "Reduce" and a consensus target price of $188.25.

Virtus Investment Partners Company 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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