Renaissance Technologies LLC lowered its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 70.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,429 shares of the closed-end fund's stock after selling 3,372 shares during the period. Renaissance Technologies LLC's holdings in Virtus Investment Partners were worth $315,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Virtus Investment Partners during the 4th quarter worth $9,503,000. Charles Schwab Investment Management Inc. lifted its position in shares of Virtus Investment Partners by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund's stock valued at $61,074,000 after purchasing an additional 21,344 shares in the last quarter. American Century Companies Inc. boosted its holdings in Virtus Investment Partners by 33.6% during the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund's stock worth $18,030,000 after purchasing an additional 20,544 shares during the last quarter. JPMorgan Chase & Co. grew its position in Virtus Investment Partners by 8.7% in the 4th quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund's stock worth $34,858,000 after purchasing an additional 12,642 shares in the last quarter. Finally, Barclays PLC increased its stake in Virtus Investment Partners by 204.9% in the 3rd quarter. Barclays PLC now owns 14,119 shares of the closed-end fund's stock valued at $2,957,000 after buying an additional 9,488 shares during the last quarter. 80.52% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Barclays set a $150.00 target price on Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Monday, April 28th. StockNews.com cut Virtus Investment Partners from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. TD Cowen decreased their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lifted their target price on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler reduced their price target on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $167.75.
Check Out Our Latest Stock Report on Virtus Investment Partners
Virtus Investment Partners Stock Performance
Virtus Investment Partners stock traded down $1.48 during trading on Friday, hitting $165.01. The stock had a trading volume of 41,656 shares, compared to its average volume of 40,096. The stock's 50 day moving average is $163.35 and its two-hundred day moving average is $198.27. Virtus Investment Partners, Inc. has a 1 year low of $142.18 and a 1 year high of $252.82. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 9.76 and a beta of 1.47. 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 issued its earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.05. The firm had revenue of $217.93 million for the quarter, compared to analyst estimates of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same period in the previous year, the company posted $5.41 earnings per share. As a group, analysts predict that Virtus Investment Partners, Inc. will post 27.7 EPS for the current year.
Virtus Investment Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 14th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio (DPR) is presently 53.41%.
About Virtus Investment Partners
(
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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