Virtus Investment Partners, Inc. $VRTS Stock Position Raised 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 lifted its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 63.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,086 shares of the closed-end fund's stock after acquiring an additional 3,920 shares during the quarter. Deutsche Bank AG owned approximately 0.15% of Virtus Investment Partners worth $1,738,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in 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 buying an additional 85 shares in the last quarter. R Squared Ltd lifted its position in 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 buying an additional 1,060 shares in the last quarter. Seizert Capital Partners LLC purchased a new stake in Virtus Investment Partners in the 1st quarter worth approximately $253,000. Envestnet Asset Management Inc. purchased a new stake in Virtus Investment Partners in the 4th quarter worth approximately $280,000. Finally, MQS Management LLC purchased a new stake in Virtus Investment Partners in the 1st quarter worth approximately $283,000. Hedge funds and other institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Stock Performance

Shares of VRTS opened at $189.3480 on Friday. The company's fifty day moving average is $193.19 and its 200-day moving average is $178.42. Virtus Investment Partners, Inc. has a 12 month low of $142.18 and a 12 month high of $252.82. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 11.20 and a beta of 1.41. The company has a quick ratio of 11.86, a current 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 results on Friday, July 25th. The closed-end fund reported $6.25 EPS for the quarter, topping the consensus estimate of $6.17 by $0.08. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. The company had revenue of $210.53 million for the quarter, compared to analyst estimates of $191.90 million. During the same quarter in the prior year, the business posted $6.53 EPS. Equities analysts expect that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.

Virtus Investment Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Friday, October 31st. This is a boost from Virtus Investment Partners's previous quarterly dividend of $2.25. Virtus Investment Partners's dividend payout ratio (DPR) is 46.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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. Barclays increased 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. Wall Street Zen upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. Finally, Piper Sandler increased 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. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target 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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