Russell Investments Group Ltd. Boosts Stock Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Russell Investments Group Ltd. raised its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 305.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,705 shares of the closed-end fund's stock after acquiring an additional 5,803 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Virtus Investment Partners worth $1,863,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Virtus Investment Partners by 106.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 22,828 shares of the closed-end fund's stock worth $5,519,000 after buying an additional 11,792 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Virtus Investment Partners by 230.7% during the third quarter. Quadrature Capital Ltd now owns 14,888 shares of the closed-end fund's stock worth $3,007,000 after purchasing an additional 10,386 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Virtus Investment Partners by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 94,366 shares of the closed-end fund's stock valued at $19,061,000 after buying an additional 4,600 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of Virtus Investment Partners in the 3rd quarter valued at $837,000. Finally, Chase Investment Counsel Corp acquired a new stake in Virtus Investment Partners during the 3rd quarter worth $727,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Stock Up 0.4 %

Shares of NASDAQ:VRTS traded up $0.97 during mid-day trading on Thursday, reaching $235.40. 23,597 shares of the stock were exchanged, compared to its average volume of 51,058. The stock's 50 day simple moving average is $234.22 and its 200-day simple moving average is $226.37. Virtus Investment Partners, Inc. has a one year low of $168.78 and a one year high of $263.39. The company has a market cap of $1.68 billion, a P/E ratio of 14.18 and a beta of 1.50.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its quarterly earnings results 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 company 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 19.61%. Analysts anticipate that Virtus Investment Partners, Inc. will post 26.43 EPS for the current fiscal year.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, April 29th. Virtus Investment Partners's dividend payout ratio is currently 45.78%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VRTS. StockNews.com cut Virtus Investment Partners from a "buy" rating to a "hold" rating in a research note on Tuesday, April 9th. Morgan Stanley boosted their price objective on Virtus Investment Partners from $211.00 to $224.00 and gave the company an "underweight" rating in a research report on Wednesday, April 17th. Piper Sandler cut their price target on shares of Virtus Investment Partners from $275.00 to $265.00 and set an "overweight" rating on the stock in a research note on Monday, April 29th. Finally, TD Cowen increased their price objective on shares of 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 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.