Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $264.00 to $275.00. Piper Sandler currently has an overweight rating on the stock. Virtus Investment Partners traded as high as $263.39 and last traded at $256.48, with a volume of 17453 shares traded. The stock had previously closed at $247.61.
A number of other equities analysts have also commented on VRTS. Morgan Stanley raised their price target on shares of Virtus Investment Partners from $170.00 to $199.00 and gave the stock an "underweight" rating in a research report on Friday, January 19th. TD Cowen began coverage on Virtus Investment Partners in a research note on Thursday, January 4th. They issued an "outperform" rating and a $289.00 price target for the company. Finally, StockNews.com upgraded shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Friday, March 1st.
View Our Latest Analysis on VRTS
Hedge Funds Weigh In On Virtus Investment Partners
Several hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its stake in Virtus Investment Partners by 44.9% in the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund's stock valued at $35,000 after purchasing an additional 53 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Virtus Investment Partners by 82.1% in the 1st quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund's stock valued at $36,000 after acquiring an additional 69 shares during the last quarter. Point72 Hong Kong Ltd boosted its holdings in shares of Virtus Investment Partners by 1,937.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund's stock valued at $39,000 after acquiring an additional 155 shares in the last quarter. Blue Trust Inc. grew its position in Virtus Investment Partners by 550.0% during the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund's stock worth $44,000 after acquiring an additional 154 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Virtus Investment Partners by 495.4% in the first quarter. Tower Research Capital LLC TRC now owns 387 shares of the closed-end fund's stock valued at $74,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 80.52% of the company's stock.
Virtus Investment Partners Stock Down 0.3 %
The company has a 50 day moving average price of $237.63 and a 200-day moving average price of $216.74. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 13.94 and a beta of 1.51.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $6.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.96 by $0.15. Virtus Investment Partners had a net margin of 15.45% and a return on equity of 18.83%. The firm had revenue of $214.59 million during the quarter, compared to analysts' expectations of $196.20 million. During the same period in the prior year, the company posted $5.17 EPS. On average, analysts forecast that Virtus Investment Partners, Inc. will post 26.41 EPS for the current fiscal year.
Virtus Investment Partners Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 3.08%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners's dividend payout ratio is presently 42.91%.
About Virtus Investment Partners
(
Get 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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