Virtus Investment Partners, Inc. (NASDAQ:VRTS) Holdings Raised by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 413.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,165 shares of the closed-end fund's stock after purchasing an additional 3,354 shares during the period. Bank of Montreal Can owned about 0.06% of Virtus Investment Partners worth $959,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of Virtus Investment Partners by 3.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,377 shares of the closed-end fund's stock worth $537,000 after acquiring an additional 73 shares during the last quarter. Texas Permanent School Fund Corp grew its position in shares of Virtus Investment Partners by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 5,911 shares of the closed-end fund's stock worth $1,466,000 after acquiring an additional 76 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Virtus Investment Partners by 6.3% in the first quarter. ProShare Advisors LLC now owns 1,377 shares of the closed-end fund's stock worth $341,000 after purchasing an additional 81 shares during the period. Los Angeles Capital Management LLC grew its position in Virtus Investment Partners by 2.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 3,717 shares of the closed-end fund's stock valued at $839,000 after buying an additional 85 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in Virtus Investment Partners by 9.4% during the 1st quarter. Tidal Investments LLC now owns 1,048 shares of the closed-end fund's stock valued at $260,000 after buying an additional 90 shares during the period. Institutional investors own 80.52% of the company's stock.

Virtus Investment Partners Price Performance

VRTS stock traded down $3.02 on Monday, hitting $205.37. 18,601 shares of the company's stock traded hands, compared to its average volume of 45,232. Virtus Investment Partners, Inc. has a 1-year low of $168.78 and a 1-year high of $263.39. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 12.37 and a beta of 1.46. The stock has a fifty day moving average of $205.80 and a 200-day moving average of $221.39. The company has a current ratio of 15.18, a quick ratio of 15.18 and a debt-to-equity ratio of 0.28.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last released its earnings results on Friday, July 26th. The closed-end fund reported $6.53 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.08). Virtus Investment Partners had a net margin of 12.41% and a return on equity of 20.35%. The business had revenue of $203.02 million for the quarter, compared to analyst estimates of $204.71 million. On average, analysts forecast that Virtus Investment Partners, Inc. will post 25.9 EPS for the current fiscal year.

Virtus Investment Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Thursday, October 31st. This is an increase from Virtus Investment Partners's previous quarterly dividend of $1.90. Virtus Investment Partners's dividend payout ratio is 54.22%.

Analysts Set New Price Targets

VRTS has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Virtus Investment Partners from $267.00 to $264.00 and set an "overweight" rating for the company in a report on Wednesday, July 10th. Barclays started coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They set an "underweight" rating and a $206.00 price target on the stock. TD Cowen lowered their target price on Virtus Investment Partners from $250.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, July 8th. Finally, Morgan Stanley cut their price target on shares of Virtus Investment Partners from $213.00 to $208.00 and set an "underweight" rating for the company in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $231.25.

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.