Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) saw an uptick in trading volume on Thursday . 93,576 shares traded hands during 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.
Analysts Set New Price Targets
A number of brokerages recently issued reports on VRTS. TD Cowen lowered their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. 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. Barclays set a $150.00 price target on shares of Virtus Investment Partners and gave the company an "underweight" rating in a research report on Monday, April 28th. Morgan Stanley lifted their target price on shares of Virtus Investment Partners from $149.00 to $152.00 and gave the stock an "underweight" rating in a report on Tuesday, May 6th. Finally, Piper Sandler decreased 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 report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $167.75.
Get Our Latest Analysis on Virtus Investment Partners
Virtus Investment Partners Price Performance
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 firm has a market capitalization of $1.23 billion, a PE ratio of 10.49 and a beta of 1.45. The firm's fifty day simple moving average is $163.23 and its 200-day simple moving average is $188.97.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.68 by $0.05. The business had revenue of $217.93 million during the quarter, compared to analysts' expectations of $201.99 million. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. During the same period in the previous year, the company earned $5.41 earnings per share. On average, research analysts forecast that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.
Virtus Investment Partners Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $2.25 dividend. The ex-dividend date is Thursday, July 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.08%. Virtus Investment Partners's dividend payout ratio is presently 53.41%.
Institutional Trading of Virtus Investment Partners
A number of large investors have recently made changes to their positions in the stock. Intech Investment Management LLC grew its stake in shares of Virtus Investment Partners by 20.8% in the first quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund's stock worth $1,135,000 after acquiring an additional 1,134 shares during the period. Jane Street Group LLC grew its stake in shares of Virtus Investment Partners by 57.4% in the first quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund's stock worth $2,679,000 after acquiring an additional 5,671 shares during the period. Millennium Management LLC grew its stake in shares of Virtus Investment Partners by 10.8% in the first quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund's stock worth $10,133,000 after acquiring an additional 5,734 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $681,000 after acquiring an additional 103 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Virtus Investment Partners by 12.9% in the first quarter. AQR Capital Management LLC now owns 52,391 shares of the closed-end fund's stock worth $9,030,000 after acquiring an additional 5,996 shares during the period. 80.52% of the stock is currently owned by 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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