Virtus Investment Partners, Inc. (NASDAQ:VRTS) Increases Dividend to $2.40 Per Share

Key Points

• Virtus Investment Partners has increased its quarterly dividend to $2.40 per share, up from the previous $2.25, representing a 6.7% increase and a dividend yield of 4.9%.
• The company reported earnings of $6.25 per share for its last quarter, exceeding analysts' expectations of $6.17 and generating revenue of $210.53 million compared to estimates of $191.90 million.
• Institutional investors have increased their holdings in Virtus, with notable changes including a 167.2% increase in Villanova Investment Management's position, indicating strong investor confidence in the firm.

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) announced a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Friday, October 31st will be paid a dividend of 2.40 per share by the closed-end fund on Friday, November 14th. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date is Friday, October 31st. This is a 6.7% increase from Virtus Investment Partners's previous quarterly dividend of $2.25.

Virtus Investment Partners Stock Up 0.7%

VRTS stock traded up $1.3150 during trading on Tuesday, hitting $193.5850. 30,920 shares of the stock traded hands, compared to its average volume of 69,583. Virtus Investment Partners has a 1 year low of $142.18 and a 1 year high of $252.82. The firm's 50 day moving average is $192.35 and its two-hundred day moving average is $178.28. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 11.45 and a beta of 1.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The closed-end fund reported $6.25 EPS for the quarter, beating the consensus estimate of $6.17 by $0.08. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. The company had revenue of $210.53 million for the quarter, compared to the consensus estimate of $191.90 million. During the same period in the prior year, the firm posted $6.53 EPS. On average, sell-side analysts anticipate that Virtus Investment Partners will post 27.7 EPS for the current year.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently added to or reduced their stakes in VRTS. Envestnet Asset Management Inc. purchased a new stake in Virtus Investment Partners during the 4th quarter valued at approximately $280,000. Invesco Ltd. grew its holdings in shares of Virtus Investment Partners by 0.7% in the fourth quarter. Invesco Ltd. now owns 29,774 shares of the closed-end fund's stock valued at $6,568,000 after purchasing an additional 212 shares in the last quarter. Barclays PLC grew its holdings in shares of Virtus Investment Partners by 8.4% in the fourth quarter. Barclays PLC now owns 15,304 shares of the closed-end fund's stock valued at $3,376,000 after purchasing an additional 1,185 shares in the last quarter. Mariner LLC grew its holdings in shares of Virtus Investment Partners by 15.2% in the fourth quarter. Mariner LLC now owns 2,953 shares of the closed-end fund's stock valued at $651,000 after purchasing an additional 389 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Virtus Investment Partners by 180.1% in the fourth quarter. Marshall Wace LLP now owns 10,442 shares of the closed-end fund's stock valued at $2,303,000 after purchasing an additional 6,714 shares in the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

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.