7,178 Shares in Virtus Investment Partners, Inc. $VRTS Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,178 shares of the closed-end fund’s stock, valued at approximately $1,302,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.10% of Virtus Investment Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. WCM Investment Management LLC lifted its stake in shares of Virtus Investment Partners by 22.4% in the second quarter. WCM Investment Management LLC now owns 125,078 shares of the closed-end fund’s stock worth $22,913,000 after buying an additional 22,900 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Virtus Investment Partners in the second quarter worth approximately $450,000. CWM LLC lifted its stake in shares of Virtus Investment Partners by 910.9% in the second quarter. CWM LLC now owns 2,133 shares of the closed-end fund’s stock worth $387,000 after buying an additional 1,922 shares in the last quarter. Hilltop National Bank bought a new position in shares of Virtus Investment Partners in the second quarter worth approximately $26,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Virtus Investment Partners by 10.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,911 shares of the closed-end fund’s stock worth $1,072,000 after buying an additional 535 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of Virtus Investment Partners from $180.00 to $170.00 and set an “underweight” rating on the stock in a research note on Tuesday. Piper Sandler boosted their price objective on shares of Virtus Investment Partners from $211.00 to $234.00 and gave the company an “overweight” rating in a report on Monday, July 21st. Finally, Barclays decreased their price objective on shares of Virtus Investment Partners from $190.00 to $175.00 and set an “underweight” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Virtus Investment Partners currently has a consensus rating of “Reduce” and a consensus price target of $184.25.

Virtus Investment Partners Trading Down 0.6%

NASDAQ VRTS opened at $176.58 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.45 and a beta of 1.43. The company’s 50-day simple moving average is $192.46 and its two-hundred day simple moving average is $182.31. Virtus Investment Partners, Inc. has a one year low of $142.18 and a one year high of $252.82.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, July 25th. The closed-end fund reported $6.25 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.08. The business had revenue of $210.53 million for the quarter, compared to the consensus estimate of $191.90 million. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. During the same quarter last year, the firm posted $6.53 EPS. Equities analysts forecast that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.

Virtus Investment Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $2.40 dividend. The ex-dividend date is Friday, October 31st. This represents a $9.60 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $2.25. Virtus Investment Partners’s dividend payout ratio (DPR) is 46.74%.

About Virtus Investment Partners

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.