Virtus Investment Partners (NASDAQ:VRTS) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Virtus Investment Partners shares have surpassed their 200-day moving average, trading at $198.56, significantly above the average of $178.88.
• The company recently raised its quarterly dividend to $2.40, reflecting a positive change from the previous dividend of $2.25, with a dividend yield of 4.9%.
• Analyst ratings for Virtus Investment Partners reveal mixed sentiments, with two analysts issuing sell ratings and another two giving buy ratings, leading to a consensus rating of Hold.

Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $178.88 and traded as high as $198.85. Virtus Investment Partners shares last traded at $198.56, with a volume of 80,096 shares.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VRTS shares. Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Piper Sandler increased their price objective on shares of Virtus Investment Partners from $211.00 to $234.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Barclays lifted their target price on Virtus Investment Partners from $150.00 to $190.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Virtus Investment Partners has a consensus rating of "Reduce" and an average target price of $188.25.

Virtus Investment Partners Stock Up 0.8%

The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 11.47 and a beta of 1.41. The business's 50-day moving average is $192.35 and its two-hundred day moving average is $178.28. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

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 business had revenue of $210.53 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $6.53 EPS. Equities analysts anticipate that Virtus Investment Partners, Inc. will post 27.7 EPS 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. Stockholders of record on Friday, October 31st will be paid a $2.40 dividend. This is a positive change from Virtus Investment Partners's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Friday, October 31st. This represents a $9.60 dividend on an annualized basis and a dividend yield of 5.0%. Virtus Investment Partners's payout ratio is presently 46.74%.

Hedge Funds Weigh In On Virtus Investment Partners

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Virtus Investment Partners by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,376 shares of the closed-end fund's stock valued at $931,000 after buying an additional 558 shares during the period. Teacher Retirement System of Texas raised its position in Virtus Investment Partners by 55.3% in the 1st quarter. Teacher Retirement System of Texas now owns 14,035 shares of the closed-end fund's stock valued at $2,419,000 after purchasing an additional 4,999 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Virtus Investment Partners by 35.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,957 shares of the closed-end fund's stock valued at $510,000 after purchasing an additional 781 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Virtus Investment Partners by 4.1% during the fourth 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. Finally, GAMMA Investing LLC lifted its holdings in shares of Virtus Investment Partners by 8,517.5% during the first quarter. GAMMA Investing LLC now owns 6,894 shares of the closed-end fund's stock worth $1,188,000 after purchasing an additional 6,814 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.