Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 197,092 shares traded hands during mid-day trading, an increase of 335% from the previous session's volume of 45,314 shares.The stock last traded at $180.35 and had previously closed at $176.02.
Analysts Set New Price Targets
VRTS has been the subject of a number of recent research reports. Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Morgan Stanley boosted their price target on Virtus Investment Partners from $149.00 to $152.00 and gave the company an "underweight" rating in a research note on Tuesday, May 6th. TD Cowen cut their price target on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Barclays set a $150.00 price target on Virtus Investment Partners and gave the company an "underweight" rating in a research note on Monday, April 28th. Finally, Piper Sandler cut their price target on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $167.75.
Check Out Our Latest Analysis on VRTS
Virtus Investment Partners Trading Down 1.1%
The stock has a market cap of $1.27 billion, a P/E ratio of 10.85 and a beta of 1.45. 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 company has a 50-day moving average price of $168.96 and a two-hundred day moving average price of $183.63.
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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.68 by $0.05. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. The business had revenue of $217.93 million for the quarter, compared to the consensus estimate of $201.99 million. During the same quarter in the prior year, the company earned $5.41 EPS. On average, research analysts expect that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.
Virtus Investment Partners Dividend Announcement
The firm also recently declared 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. This represents a $9.00 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Thursday, July 31st. Virtus Investment Partners's dividend payout ratio (DPR) is presently 53.41%.
Institutional Investors Weigh In On Virtus Investment Partners
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in Virtus Investment Partners by 30.2% during the first quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock worth $63,000 after acquiring an additional 85 shares during the period. Handelsbanken Fonder AB grew its holdings in Virtus Investment Partners by 8.3% in the fourth quarter. Handelsbanken Fonder AB now owns 1,300 shares of the closed-end fund's stock valued at $287,000 after purchasing an additional 100 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Virtus Investment Partners by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund's stock valued at $681,000 after purchasing an additional 103 shares during the period. Smartleaf Asset Management LLC grew its holdings in Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock valued at $44,000 after purchasing an additional 126 shares during the period. Finally, Man Group plc grew its holdings in Virtus Investment Partners by 0.5% in the fourth quarter. Man Group plc now owns 29,390 shares of the closed-end fund's stock valued at $6,483,000 after purchasing an additional 146 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.
About Virtus Investment Partners
(
Get 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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