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

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

Several other brokerages also recently commented on VRTS. Piper Sandler dropped their price objective on shares of Virtus Investment Partners from $275.00 to $265.00 and set an overweight rating for the company 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 Tuesday, April 9th. Finally, Morgan Stanley increased their price objective on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an underweight rating in a research note on Wednesday, April 17th.

Virtus Investment Partners Trading Up 1.2 %

Shares of Virtus Investment Partners stock opened at $222.01 on Monday. The company has a 50 day moving average of $235.11 and a 200-day moving average of $222.46. Virtus Investment Partners has a 1-year low of $165.00 and a 1-year high of $263.39. The company has a market cap of $1.59 billion, a PE ratio of 13.37 and a beta of 1.52.

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

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 45.78%.

Institutional Investors Weigh In On Virtus Investment Partners

Large investors have recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Virtus Investment Partners by 44.9% during 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. grew its holdings in Virtus Investment Partners by 550.0% in the fourth quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after purchasing an additional 154 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Virtus Investment Partners in the first quarter worth $220,000. Everence Capital Management Inc. acquired a new stake in Virtus Investment Partners in the fourth quarter worth $222,000. Finally, QRG Capital Management Inc. acquired a new stake in Virtus Investment Partners in the fourth quarter worth $250,000. 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.