Comerica Bank decreased its position in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) by 5.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,570 shares of the closed-end fund’s stock after selling 395 shares during the quarter. Comerica Bank owned approximately 0.09% of Virtus Investment Partners worth $711,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Texas Permanent School Fund boosted its position in Virtus Investment Partners by 1.8% during the first quarter. Texas Permanent School Fund now owns 4,760 shares of the closed-end fund’s stock valued at $464,000 after purchasing an additional 83 shares in the last quarter. Aperio Group LLC raised its stake in Virtus Investment Partners by 1.9% in the second quarter. Aperio Group LLC now owns 8,396 shares of the closed-end fund’s stock valued at $902,000 after buying an additional 155 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Virtus Investment Partners by 153.7% in the first quarter. PNC Financial Services Group Inc. now owns 340 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 206 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Virtus Investment Partners by 212.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,513 shares of the closed-end fund’s stock worth $148,000 after purchasing an additional 1,028 shares during the last quarter. Finally, Loews Corp purchased a new position in shares of Virtus Investment Partners in the first quarter worth about $211,000. 90.80% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. TheStreet cut Virtus Investment Partners from a “b-” rating to a “c+” rating in a research note on Thursday, May 16th. ValuEngine raised Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday. Morgan Stanley dropped their price objective on Virtus Investment Partners from $118.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, August 5th. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research raised Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $122.00 price target on the stock in a research note on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $108.33.
NASDAQ:VRTS traded down $4.19 on Friday, reaching $118.66. The company’s stock had a trading volume of 6,433 shares, compared to its average volume of 64,595. Virtus Investment Partners Inc has a 12-month low of $70.00 and a 12-month high of $126.55. The firm has a market cap of $829.91 million, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 1.38 and a beta of 1.60. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $104.11 and a 200 day moving average price of $107.43.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 26th. The closed-end fund reported $3.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.41 by $0.22. Virtus Investment Partners had a return on equity of 21.29% and a net margin of 13.86%. The firm had revenue of $140.49 million during the quarter, compared to analysts’ expectations of $144.92 million. During the same period in the previous year, the firm posted $2.73 EPS. Virtus Investment Partners’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that Virtus Investment Partners Inc will post 13.84 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, October 30th. Virtus Investment Partners’s dividend payout ratio is 17.94%.
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.
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