Virtus Investment Partners, Inc. (NASDAQ:VRTS) Raises 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) declared 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 dividend yield of 4.9%. This is a 6.7% increase from Virtus Investment Partners's previous quarterly dividend of $2.25.

Virtus Investment Partners Stock Performance

Shares of Virtus Investment Partners stock opened at $197.60 on Thursday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 11.69 and a beta of 1.41. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $190.93 and a 200 day moving average price of $178.96. Virtus Investment Partners has a 52 week low of $142.18 and a 52 week high of $252.82.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The closed-end fund reported $6.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.17 by $0.08. The company had revenue of $210.53 million during the quarter, compared to analyst estimates of $191.90 million. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. During the same period last year, the firm posted $6.53 EPS. Sell-side analysts expect that Virtus Investment Partners will post 27.7 EPS for the current year.

Hedge Funds Weigh In On Virtus Investment Partners

Large investors have recently made changes to their positions in the company. Villanova Investment Management Co LLC raised its position in Virtus Investment Partners by 167.2% during the second quarter. Villanova Investment Management Co LLC now owns 10,516 shares of the closed-end fund's stock worth $1,908,000 after acquiring an additional 6,580 shares during the period. Cerity Partners LLC acquired a new position in Virtus Investment Partners during the second quarter worth $365,000. Jump Financial LLC raised its position in Virtus Investment Partners by 547.9% during the second quarter. Jump Financial LLC now owns 30,322 shares of the closed-end fund's stock worth $5,500,000 after acquiring an additional 25,642 shares during the period. Brown Advisory Inc. raised its position in Virtus Investment Partners by 21.6% during the second quarter. Brown Advisory Inc. now owns 101,954 shares of the closed-end fund's stock worth $18,494,000 after acquiring an additional 18,143 shares during the period. Finally, First Trust Advisors LP raised its position in Virtus Investment Partners by 87.1% during the second quarter. First Trust Advisors LP now owns 32,143 shares of the closed-end fund's stock worth $5,831,000 after acquiring an additional 14,962 shares during the period. 80.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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