Raymond James & Associates trimmed its stake in shares of Virtus Investment Partners, Inc. (NASDAQ: VRTS – Get Rating ) by 11.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,114 shares of the closed-end fund’s stock after selling 803 shares during the quarter. Raymond James & Associates owned approximately 0.08% of Virtus Investment Partners worth $975,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTS. Lazard Asset Management LLC boosted its holdings in Virtus Investment Partners by 82.1% during the first quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Point72 Hong Kong Ltd grew its holdings in Virtus Investment Partners by 1,937.5% during the first quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund’s stock valued at $39,000 after purchasing an additional 155 shares during the period. CWM LLC boosted its holdings in Virtus Investment Partners by 154.3% during the second quarter. CWM LLC now owns 239 shares of the closed-end fund’s stock valued at $41,000 after purchasing an additional 145 shares during the period. Quadrant Capital Group LLC boosted its holdings in Virtus Investment Partners by 79.5% in the second quarter. Quadrant Capital Group LLC now owns 280 shares of the closed-end fund’s stock valued at $48,000 after purchasing an additional 124 shares during the period. Finally, KBC Group NV bought a new stake in Virtus Investment Partners during the second quarter valued at $102,000. The institutional investor owned 80.91% of the company’s stock.
Price presentation of Virtus Investment Partners
Shares of NASDAQ VRTS opened at $214.36 on Friday. The company has a quick ratio of 13.06, a current ratio of 13.06 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.55 billion, a PE ratio of 12.57 and a beta of 1.63. The stock’s 50-day moving average is $198.65 and its 200-day moving average is $189.35. Virtus Investment Partners, Inc. has a twelve month low of $141.80 and a twelve month high of $273.03.
Virtus Investment Partners (NASDAQ: VRTS – Get Rating ) last posted its quarterly earnings results on Wednesday, October 26th. The closed-end fund reported $5.76 EPS for the quarter, missing analysts’ consensus estimates of $6.39 by ($0.63). The business had revenue of $185.69 million for the quarter, compared to the consensus estimate of $183.12 million. Virtus Investment Partners had a return on equity of 29.33% and a net margin of 13.83%. On average, stock analysts expect Virtus Investment Partners, Inc. to post 25.46 EPS for the current year.
Virtus Investment Partners announces dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st will be paid a dividend of $1.65 per share. The ex-dividend date of this dividend is Monday, January 30th. This represents an annual dividend of $6.60 and a yield of 3.08%. Virtus Investment Partners’ dividend payout ratio (DPR) is currently 38.71%.
Changes in analyst ratings
Several equities research analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Virtus Investment Partners from $268.00 to $248.00 in a research note on Tuesday, October 11th. StockNews.com assumed coverage on shares of Virtus Investment Partners in a research note on Wednesday, October 12th. They issued a “hold” rating on the company. Finally, Morgan Stanley upped their target price on shares of Virtus Investment Partners from $134.00 to $150.00 and gave the stock an “underperform” rating in a research report on Thursday, January 19th.
Virtus Investment Partners company profile
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Virtus Investment Partners, Inc is an asset management company engaged in providing investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional closed-end funds, Virtus variable insurance trusts and other portfolios.
More information
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