Virtus Investment Partners (NASDAQ:VRTS - Free Report) had its price objective upped by Morgan Stanley from $211.00 to $224.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an underweight rating on the closed-end fund's stock.
Several other analysts have also weighed in on VRTS. TD Cowen lowered Virtus Investment Partners from a buy rating to a hold rating and cut their price objective for the company from $285.00 to $264.00 in a report on Monday, April 8th. StockNews.com lowered Virtus Investment Partners from a buy rating to a hold rating in a report on Tuesday, April 9th. Finally, Piper Sandler upped their price objective on Virtus Investment Partners from $264.00 to $275.00 and gave the company an overweight rating in a report on Wednesday, March 27th.
View Our Latest Report on VRTS
Virtus Investment Partners Price Performance
Virtus Investment Partners stock traded up $1.22 during midday trading on Wednesday, hitting $219.80. 44,164 shares of the company were exchanged, compared to its average volume of 52,241. Virtus Investment Partners has a fifty-two week low of $165.00 and a fifty-two week high of $263.39. The company's fifty day moving average price is $236.12 and its 200-day moving average price is $219.99. The company has a market cap of $1.58 billion, a PE ratio of 12.41 and a beta of 1.52.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last released its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $6.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.96 by $0.15. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. The business had revenue of $214.59 million during the quarter, compared to analyst estimates of $196.20 million. During the same quarter in the previous year, the firm posted $5.17 EPS. On average, analysts expect that Virtus Investment Partners will post 26.89 EPS for the current fiscal year.
Virtus Investment Partners Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners's dividend payout ratio (DPR) is presently 42.91%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Lazard Asset Management LLC increased its position in 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 worth $36,000 after purchasing an additional 69 shares during the last quarter. Point72 Hong Kong Ltd increased its position in Virtus Investment Partners by 1,937.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund's stock worth $39,000 after purchasing an additional 155 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Virtus Investment Partners by 44.9% during the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund's stock worth $35,000 after acquiring an additional 53 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Virtus Investment Partners by 495.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 387 shares of the closed-end fund's stock worth $74,000 after acquiring an additional 322 shares in the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.
About Virtus Investment Partners
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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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