Vulcan Value Partners LLC cut its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,628 shares of the closed-end fund's stock after selling 16,449 shares during the period. Vulcan Value Partners LLC owned 1.40% of Virtus Investment Partners worth $21,755,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTS. Barclays PLC boosted its position in Virtus Investment Partners by 204.9% in the third quarter. Barclays PLC now owns 14,119 shares of the closed-end fund's stock valued at $2,957,000 after buying an additional 9,488 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Virtus Investment Partners by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 145,386 shares of the closed-end fund's stock worth $30,451,000 after purchasing an additional 3,651 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Virtus Investment Partners during the fourth quarter worth approximately $203,000. Private Client Services LLC acquired a new position in shares of Virtus Investment Partners during the fourth quarter worth approximately $799,000. Finally, SG Americas Securities LLC acquired a new position in shares of Virtus Investment Partners during the fourth quarter worth approximately $375,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VRTS has been the subject of a number of recent research reports. Piper Sandler dropped their price target 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. Morgan Stanley dropped their price target on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Barclays set a $150.00 price target on shares of Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Monday. StockNews.com downgraded shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a research note on Monday. Finally, TD Cowen dropped 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 note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $179.25.
Read Our Latest Analysis on VRTS
Virtus Investment Partners Trading Up 0.7 %
Shares of VRTS traded up $1.14 during trading hours on Monday, reaching $154.42. The stock had a trading volume of 45,868 shares, compared to its average volume of 40,400. The firm has a 50-day moving average of $167.33 and a 200 day moving average of $201.91. 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 company has a market cap of $1.07 billion, a P/E ratio of 9.14 and a beta of 1.36. Virtus Investment Partners, Inc. has a 52 week low of $142.18 and a 52 week high of $252.82.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its earnings results 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. The firm had revenue of $217.93 million for the quarter, compared to analyst estimates of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same period in the previous year, the company posted $5.41 earnings per share. On average, sell-side analysts expect that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.
Virtus Investment Partners Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, April 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 5.83%. Virtus Investment Partners's dividend payout ratio (DPR) is 53.41%.
About Virtus Investment Partners
(
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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