Virtus Investment Partners (NASDAQ:VRTS) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Virtus Investment Partners saw its share price rise above its 200-day moving average, reaching a high of $193.69 before settling at $191.00, indicating potential investor interest.
• Analysts have varied opinions on the stock, with target prices ranging from $171.00 (Morgan Stanley) to $234.00 (Piper Sandler), and an average consensus price target of $188.25.
• The company recently increased its quarterly dividend to $2.40 per share, reflecting a yield of 5.0% and a payout ratio of 46.74%.

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $180.15 and traded as high as $193.69. Virtus Investment Partners shares last traded at $191.00, with a volume of 93,220 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the stock an "underweight" rating in a report on Wednesday, July 2nd. Barclays upped their target price on Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Finally, Piper Sandler upped their target price on Virtus Investment Partners from $211.00 to $234.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Virtus Investment Partners currently has an average rating of "Reduce" and a consensus price target of $188.25.

Virtus Investment Partners Price Performance

The company has a market cap of $1.29 billion, a PE ratio of 11.30 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The stock has a 50 day moving average of $197.32 and a 200-day moving average of $180.15.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its 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 return on equity of 21.56% and a net margin of 13.42%.During the same quarter last year, the business posted $6.53 EPS. Equities analysts predict that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current year.

Virtus Investment Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a dividend of $2.40 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $9.60 annualized dividend and a yield of 5.0%. This is an increase from Virtus Investment Partners's previous quarterly dividend of $2.25. Virtus Investment Partners's payout ratio is 46.74%.

Institutional Investors Weigh In On Virtus Investment Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRTS. Bank of America Corp DE grew its position in Virtus Investment Partners by 6.6% during the 4th quarter. Bank of America Corp DE now owns 30,246 shares of the closed-end fund's stock worth $6,672,000 after purchasing an additional 1,876 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Virtus Investment Partners by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,849 shares of the closed-end fund's stock worth $849,000 after purchasing an additional 152 shares during the period. Nuveen Asset Management LLC grew its position in Virtus Investment Partners by 1.8% during the 4th quarter. Nuveen Asset Management LLC now owns 45,632 shares of the closed-end fund's stock worth $10,066,000 after purchasing an additional 795 shares during the period. ProShare Advisors LLC grew its position in Virtus Investment Partners by 44.4% during the 4th quarter. ProShare Advisors LLC now owns 2,035 shares of the closed-end fund's stock worth $449,000 after purchasing an additional 626 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Virtus Investment Partners by 8.5% during the 4th quarter. Two Sigma Advisers LP now owns 7,700 shares of the closed-end fund's stock valued at $1,698,000 after acquiring an additional 600 shares during the period. 80.52% of the stock is owned by institutional investors and hedge funds.

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.

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