Keybank National Association OH decreased its position in Virtus Investment Partners Inc (NASDAQ:VRTS) by 12.2% in the 2nd quarter, Holdings Channel reports. The fund owned 5,055 shares of the closed-end fund’s stock after selling 700 shares during the period. Keybank National Association OH’s holdings in Virtus Investment Partners were worth $543,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of VRTS. Norges Bank acquired a new stake in Virtus Investment Partners in the fourth quarter valued at approximately $6,569,000. WCM Investment Management LLC grew its position in Virtus Investment Partners by 70.0% in the first quarter. WCM Investment Management LLC now owns 125,198 shares of the closed-end fund’s stock valued at $12,213,000 after acquiring an additional 51,542 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in Virtus Investment Partners in the second quarter valued at approximately $3,410,000. Marshall Wace LLP acquired a new stake in Virtus Investment Partners in the first quarter valued at approximately $1,817,000. Finally, GYL Financial Synergies LLC acquired a new stake in Virtus Investment Partners in the first quarter valued at approximately $979,000. 94.99% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research report on Saturday, July 13th. TheStreet downgraded shares of Virtus Investment Partners from a “b-” rating to a “c+” rating in a research report on Thursday, May 16th. Morgan Stanley decreased their price target on shares of Virtus Investment Partners from $118.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Finally, Bank of America reissued a “neutral” rating and set a $118.00 price target (down previously from $130.00) on shares of Virtus Investment Partners in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $108.33.
Virtus Investment Partners stock opened at $103.43 on Wednesday. The company has a market cap of $688.93 million, a PE ratio of 8.44, a P/E/G ratio of 1.43 and a beta of 1.64. The company has a fifty day moving average price of $104.43 and a two-hundred day moving average price of $106.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 27.91 and a quick ratio of 27.91. Virtus Investment Partners Inc has a 12 month low of $70.00 and a 12 month high of $132.35.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 26th. The closed-end fund reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.22. The firm had revenue of $140.49 million during the quarter, compared to the consensus estimate of $144.92 million. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.73 earnings per share. Equities research analysts anticipate that Virtus Investment Partners Inc will post 13.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, October 30th. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.55. Virtus Investment Partners’s payout ratio is currently 17.94%.
Virtus Investment Partners Profile
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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