Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,629 shares of the closed-end fund’s stock after purchasing an additional 1,290 shares during the period. Principal Financial Group Inc.’s holdings in Virtus Investment Partners were worth $6,830,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Virtus Investment Partners by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund’s stock valued at $34,858,000 after acquiring an additional 12,642 shares in the last quarter. Northern Trust Corp increased its stake in Virtus Investment Partners by 10.2% during the fourth quarter. Northern Trust Corp now owns 106,104 shares of the closed-end fund’s stock valued at $23,404,000 after purchasing an additional 9,793 shares during the last quarter. American Century Companies Inc. increased its stake in Virtus Investment Partners by 33.6% during the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund’s stock valued at $18,030,000 after purchasing an additional 20,544 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Virtus Investment Partners by 1.8% during the fourth quarter. Nuveen Asset Management LLC now owns 45,632 shares of the closed-end fund’s stock valued at $10,066,000 after purchasing an additional 795 shares during the last quarter. Finally, Norges Bank bought a new stake in Virtus Investment Partners during the fourth quarter valued at $9,503,000. 80.52% of the stock is owned by institutional investors and hedge funds.

Virtus Investment Partners Stock Down 0.9%

NASDAQ:VRTS opened at $201.61 on Wednesday. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.93 and a beta of 1.44. Virtus Investment Partners, Inc. has a twelve month low of $142.18 and a twelve month high of $252.82. The stock’s 50 day moving average price is $179.33 and its two-hundred day moving average price is $180.71. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share for the quarter, topping analysts’ consensus estimates of $5.68 by $0.05. The business had revenue of $217.93 million for the quarter, compared to analyst estimates of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same period in the previous year, the firm earned $5.41 EPS. Equities research analysts expect that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.46%. Virtus Investment Partners’s dividend payout ratio is currently 53.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on VRTS shares. Barclays set a $150.00 price objective on shares of Virtus Investment Partners and gave the stock an “underweight” rating in a report on Monday, April 28th. TD Cowen lowered their price target on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Piper Sandler reduced their price objective on Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Monday, May 19th. Finally, Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the company an “underweight” rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $172.50.

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.