Virtus Investment Partners (NASDAQ:VRTS) Price Target Raised to $250.00

Virtus Investment Partners (NASDAQ:VRTS) had its target price lifted by TD Cowen from $245.00 to $250.00 in a research report report published on Monday, Benzinga reports. The firm currently has a hold rating on the closed-end fund’s stock.

Other analysts have also issued research reports about the company. Morgan Stanley upped their price objective on Virtus Investment Partners from $211.00 to $224.00 and gave the company an underweight rating in a report on Wednesday, April 17th. Piper Sandler cut their price target on shares of Virtus Investment Partners from $275.00 to $265.00 and set an overweight rating for the company in a report on Monday. Finally, StockNews.com cut shares of Virtus Investment Partners from a buy rating to a hold rating in a research note on Tuesday, April 9th.

Virtus Investment Partners Trading Down 2.2 %

VRTS stock opened at $222.60 on Monday. The firm’s 50-day moving average is $235.53 and its two-hundred day moving average is $222.20. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.83 and a beta of 1.52. Virtus Investment Partners has a 52 week low of $165.00 and a 52 week high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, April 26th. The closed-end fund reported $5.41 EPS for the quarter, hitting the consensus estimate of $5.41. The firm had revenue of $200.24 million for the quarter, compared to analysts’ expectations of $203.54 million. Virtus Investment Partners had a return on equity of 19.68% and a net margin of 14.02%. On average, equities research analysts predict that Virtus Investment Partners will post 27.04 earnings per share for the current year.

Virtus Investment Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Virtus Investment Partners by 44.9% in the third quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock worth $35,000 after buying an additional 53 shares during the period. Blue Trust Inc. lifted its stake in Virtus Investment Partners by 550.0% in the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after acquiring an additional 154 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Virtus Investment Partners during the 4th quarter worth about $222,000. QRG Capital Management Inc. purchased a new position in Virtus Investment Partners during the 4th quarter valued at about $250,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Virtus Investment Partners in the 3rd quarter valued at about $285,000. 80.52% of the stock is currently owned by institutional investors and hedge funds.

Virtus Investment Partners Company 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.