Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) shares saw strong trading volume on Thursday . 93,576 shares changed hands during mid-day trading, an increase of 117% from the previous session's volume of 43,080 shares.The stock last traded at $175.77 and had previously closed at $177.25.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on VRTS. Wall Street Zen raised Virtus Investment Partners from a "hold" rating to a "buy" rating in a research report on Monday, May 19th. TD Cowen dropped their price target on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock 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 report on Monday, April 28th. Morgan Stanley upped their price objective on shares of Virtus Investment Partners from $149.00 to $152.00 and gave the company an "underweight" rating in a report on Tuesday, May 6th. Finally, Piper Sandler cut their target price on shares of 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 issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Virtus Investment Partners presently has a consensus rating of "Hold" and a consensus target price of $167.75.
Read Our Latest Stock Report on VRTS
Virtus Investment Partners Trading Down 2.1%
The stock has a market capitalization of $1.20 billion, a P/E ratio of 10.28 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 business has a 50-day moving average price of $163.76 and a two-hundred day moving average price of $187.64.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $217.93 million during the quarter, compared to analysts' expectations of $201.99 million. During the same quarter in the prior year, the business posted $5.41 earnings per share. On average, analysts expect that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.
Virtus Investment Partners Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $9.00 annualized dividend and a dividend yield of 5.18%. Virtus Investment Partners's dividend payout ratio is 53.41%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in shares of Virtus Investment Partners by 170.3% in the 4th 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 last quarter. Signaturefd LLC grew its position in Virtus Investment Partners by 30.2% in the first quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock valued at $63,000 after acquiring an additional 85 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Virtus Investment Partners in the first quarter valued at about $93,000. Trexquant Investment LP acquired a new position in Virtus Investment Partners during the fourth quarter worth about $209,000. Finally, Entropy Technologies LP bought a new position in shares of Virtus Investment Partners in the first quarter worth about $219,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.
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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