Victory Capital Management Inc. Trims Stock Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Victory Capital Management Inc. decreased its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,931 shares of the closed-end fund's stock after selling 4,161 shares during the period. Victory Capital Management Inc. owned 1.45% of Virtus Investment Partners worth $25,126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in VRTS. Bank of New York Mellon Corp lifted its stake in shares of Virtus Investment Partners by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 104,720 shares of the closed-end fund's stock valued at $21,152,000 after acquiring an additional 557 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Virtus Investment Partners by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,650 shares of the closed-end fund's stock valued at $333,000 after acquiring an additional 65 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Virtus Investment Partners by 23.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,043 shares of the closed-end fund's stock worth $615,000 after acquiring an additional 570 shares during the period. Signaturefd LLC raised its position 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 valued at $35,000 after acquiring an additional 53 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Virtus Investment Partners by 87.1% in the third quarter. Assenagon Asset Management S.A. now owns 11,036 shares of the closed-end fund's stock valued at $2,229,000 after purchasing an additional 5,139 shares during the last quarter. Institutional investors own 80.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler lowered their target price on shares of Virtus Investment Partners from $275.00 to $265.00 and set an "overweight" rating for the company in a research note on Monday, April 29th. Morgan Stanley upped their price target on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an "underweight" rating in a report on Wednesday, April 17th. StockNews.com lowered shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a research note on Tuesday, April 9th. Finally, TD Cowen upped their price objective on Virtus Investment Partners from $245.00 to $250.00 and gave the stock a "hold" rating in a research report on Monday, April 29th.

Virtus Investment Partners Stock Up 0.2 %

Shares of NASDAQ:VRTS traded up $0.38 during midday trading on Thursday, reaching $234.54. The company had a trading volume of 51,515 shares, compared to its average volume of 52,225. The business's 50 day moving average price is $234.54 and its 200 day moving average price is $224.20. Virtus Investment Partners, Inc. has a 1-year low of $166.07 and a 1-year high of $263.39. The stock has a market cap of $1.68 billion, a PE ratio of 13.91 and a beta of 1.50.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings data on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, hitting the consensus estimate of $5.41. The business had revenue of $200.24 million during the quarter, compared to analysts' expectations of $203.54 million. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.68%. On average, research analysts expect that Virtus Investment Partners, Inc. will post 26.43 earnings per share for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $1.90 per share. The ex-dividend date is Monday, April 29th. This represents a $7.60 annualized dividend and a yield of 3.24%. Virtus Investment Partners's dividend payout ratio is currently 45.78%.

Virtus Investment Partners 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.