Virtus Investment Partners (NASDAQ:VRTS) Sees Strong Trading Volume - Here's Why

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) saw an uptick in trading volume on Monday . 53,613 shares traded hands during trading, an increase of 11% from the previous session's volume of 48,274 shares.The stock last traded at $180.85 and had previously closed at $183.19.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. TD Cowen reduced their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Piper Sandler decreased their price target on 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. Barclays set a $150.00 price objective on Virtus Investment Partners and gave the stock an "underweight" rating in a research report on Monday, April 28th. Finally, Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the company an "underweight" rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $172.50.

Virtus Investment Partners Stock Down 0.8%

The stock's 50-day moving average price is $172.30 and its two-hundred day moving average price is $182.28. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.38 billion, a P/E ratio of 11.78 and a beta of 1.45.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, topping analysts' consensus estimates of $5.68 by $0.05. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. The company had revenue of $217.93 million for the quarter, compared to analysts' expectations of $201.99 million. During the same quarter in the previous year, the firm posted $5.41 EPS. As a group, research analysts expect that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.

Virtus Investment Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.52%. Virtus Investment Partners's payout ratio is presently 53.41%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Virtus Investment Partners in the first quarter worth $9,639,000. Norges Bank bought a new position in Virtus Investment Partners in the 4th quarter worth about $9,503,000. Gator Capital Management LLC boosted its stake in Virtus Investment Partners by 190.7% in the 1st quarter. Gator Capital Management LLC now owns 60,810 shares of the closed-end fund's stock worth $10,481,000 after purchasing an additional 39,895 shares during the period. American Century Companies Inc. grew its holdings in Virtus Investment Partners by 38.5% during the 1st quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund's stock valued at $19,510,000 after buying an additional 31,454 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Virtus Investment Partners by 8.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 299,961 shares of the closed-end fund's stock valued at $51,701,000 after buying an additional 23,081 shares during the period. Hedge funds and other institutional investors own 80.52% of the company's stock.

About Virtus Investment Partners

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.