Virtus Investment Partners (NASDAQ:VRTS) Price Target Lowered to $265.00 at Piper Sandler

Virtus Investment Partners (NASDAQ:VRTS) had its price objective decreased by Piper Sandler from $275.00 to $265.00 in a research report sent to investors on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the closed-end fund’s stock.

A number of other equities analysts have also weighed in on the company. TD Cowen lowered Virtus Investment Partners from a buy rating to a hold rating and decreased their price target for the company from $285.00 to $264.00 in a research report on Monday, April 8th. StockNews.com lowered Virtus Investment Partners from a buy rating to a hold rating in a research report on Tuesday, April 9th. Finally, Morgan Stanley increased their price target on Virtus Investment Partners from $211.00 to $224.00 and gave the company an underweight rating in a research report on Wednesday, April 17th.

Virtus Investment Partners Stock Down 2.2 %

Shares of VRTS stock opened at $222.60 on Monday. The stock has a 50-day simple moving average of $235.53 and a 200 day simple moving average of $222.20. Virtus Investment Partners has a fifty-two week low of $165.00 and a fifty-two week high of $263.39. The stock has a market capitalization of $1.60 billion, a P/E ratio of 9.83 and a beta of 1.52.

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

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio is currently 45.78%.

Institutional Investors Weigh In On Virtus Investment Partners

Several hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in Virtus Investment Partners by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 104,720 shares of the closed-end fund’s stock worth $21,152,000 after acquiring an additional 557 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Virtus Investment Partners by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 96,081 shares of the closed-end fund’s stock worth $23,229,000 after acquiring an additional 1,715 shares in the last quarter. Brown Advisory Inc. lifted its stake in Virtus Investment Partners by 3.3% in the 3rd quarter. Brown Advisory Inc. now owns 89,496 shares of the closed-end fund’s stock worth $18,077,000 after acquiring an additional 2,836 shares in the last quarter. Norges Bank purchased a new stake in Virtus Investment Partners in the 4th quarter worth about $14,649,000. Finally, American Century Companies Inc. lifted its stake in Virtus Investment Partners by 3.6% in the 3rd quarter. American Century Companies Inc. now owns 59,190 shares of the closed-end fund’s stock worth $11,956,000 after acquiring an additional 2,048 shares in the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

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.