New Amsterdam Partners LLC NY lowered its stake in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,469 shares of the closed-end fund’s stock after selling 343 shares during the quarter. New Amsterdam Partners LLC NY owned about 0.41% of Virtus Investment Partners worth $2,341,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc increased its position in Virtus Investment Partners by 1.1% during the third quarter. Vanguard Group Inc now owns 683,345 shares of the closed-end fund’s stock worth $77,731,000 after acquiring an additional 7,394 shares during the period. Teachers Advisors LLC boosted its stake in Virtus Investment Partners by 4.8% during the third quarter. Teachers Advisors LLC now owns 13,457 shares of the closed-end fund’s stock worth $1,531,000 after buying an additional 622 shares in the last quarter. BlackRock Inc. boosted its stake in Virtus Investment Partners by 3.9% during the third quarter. BlackRock Inc. now owns 1,055,529 shares of the closed-end fund’s stock worth $120,066,000 after buying an additional 39,371 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Virtus Investment Partners by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 532,880 shares of the closed-end fund’s stock worth $60,615,000 after buying an additional 9,703 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC boosted its stake in Virtus Investment Partners by 7.9% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 129,429 shares of the closed-end fund’s stock worth $14,723,000 after buying an additional 9,511 shares in the last quarter. 93.05% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:VRTS opened at $92.82 on Friday. Virtus Investment Partners Inc has a 52 week low of $70.00 and a 52 week high of $138.02. The firm has a market capitalization of $663.39 million, a PE ratio of 7.57, a PEG ratio of 0.54 and a beta of 1.47.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, February 1st. The closed-end fund reported $3.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.06. Virtus Investment Partners had a net margin of 13.68% and a return on equity of 19.85%. The company had revenue of $138.10 million for the quarter, compared to the consensus estimate of $143.54 million. During the same quarter in the previous year, the company earned $2.60 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts expect that Virtus Investment Partners Inc will post 10.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Thursday, January 31st will be paid a $0.55 dividend. The ex-dividend date is Wednesday, January 30th. This represents a $2.20 annualized dividend and a dividend yield of 2.37%. Virtus Investment Partners’s dividend payout ratio is presently 17.94%.
VRTS has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Saturday, October 13th. BidaskClub downgraded shares of Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 1st. Morgan Stanley set a $92.00 price target on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research note on Friday. Bank of America reiterated a “neutral” rating and set a $100.00 price target (down previously from $115.00) on shares of Virtus Investment Partners in a research note on Thursday, December 6th. Finally, Credit Suisse Group set a $150.00 price target on shares of Virtus Investment Partners and gave the stock a “buy” rating in a research note on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $106.67.
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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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