Virtus Investment Partners, Inc. $VRTS Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its holdings in Virtus Investment Partners by 63.6% in Q1, now owning approximately 0.15% of the company valued at $1.738 million.
• Virtus Investment Partners reported an earnings per share (EPS) of $6.25 in its latest quarter, surpassing the consensus estimate of $6.17 and achieving a revenue of $210.53 million.
• The company announced a quarterly dividend of $2.40, increasing from the previous $2.25, resulting in an annualized yield of 5.1%.

Deutsche Bank AG boosted its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 63.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,086 shares of the closed-end fund's stock after buying an additional 3,920 shares during the quarter. Deutsche Bank AG owned 0.15% of Virtus Investment Partners worth $1,738,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Virtus Investment Partners by 30.2% in the 1st quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock worth $63,000 after purchasing an additional 85 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $280,000. R Squared Ltd increased its position in shares of Virtus Investment Partners by 311.8% in the 1st quarter. R Squared Ltd now owns 1,400 shares of the closed-end fund's stock worth $241,000 after purchasing an additional 1,060 shares during the last quarter. Seizert Capital Partners LLC bought a new stake in shares of Virtus Investment Partners in the 1st quarter worth about $253,000. Finally, MQS Management LLC bought a new stake in shares of Virtus Investment Partners in the 1st quarter worth about $283,000. Institutional investors and hedge funds own 80.52% of the company's stock.

Virtus Investment Partners Stock Performance

Shares of NASDAQ:VRTS traded up $1.75 during trading on Wednesday, reaching $201.86. 73,273 shares of the company's stock traded hands, compared to its average volume of 70,650. 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 12 month low of $142.18 and a 12 month high of $252.82. The company has a 50 day moving average of $195.33 and a 200-day moving average of $178.64. The stock has a market capitalization of $1.36 billion, a P/E ratio of 11.94 and a beta of 1.41.

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 (EPS) for the quarter, beating analysts' consensus estimates of $6.17 by $0.08. The firm 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 previous year, the business posted $6.53 EPS. On average, equities analysts expect that Virtus Investment Partners, Inc. will post 27.7 EPS for the current year.

Virtus Investment Partners Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRTS. Morgan Stanley set a $171.00 target price on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a research report on Wednesday, July 2nd. 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 research report on Monday, July 21st. Barclays boosted their target price on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research report 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 investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Virtus Investment Partners presently has an average rating of "Reduce" and a consensus price target of $188.25.

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.