Virtus Investment Partners (NASDAQ:VRTS) Share Price Passes Above 200 Day Moving Average of $215.30

Virtus Investment Partners, Inc. (NASDAQ:VRTSGet Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $215.30 and traded as high as $247.16. Virtus Investment Partners shares last traded at $244.93, with a volume of 49,257 shares.

Analyst Upgrades and Downgrades

A number of research firms have commented on VRTS. Morgan Stanley boosted their price objective on Virtus Investment Partners from $170.00 to $199.00 and gave the stock an “underweight” rating in a research note on Friday, January 19th. StockNews.com raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Piper Sandler reaffirmed an “overweight” rating and set a $264.00 price target on shares of Virtus Investment Partners in a research note on Wednesday, December 20th. Finally, TD Cowen assumed coverage on Virtus Investment Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $289.00 price target on the stock.

Check Out Our Latest Stock Analysis on Virtus Investment Partners

Virtus Investment Partners Price Performance

The firm has a 50 day simple moving average of $236.56 and a two-hundred day simple moving average of $215.30. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 13.83 and a beta of 1.51.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last released its earnings results on Friday, February 2nd. The closed-end fund reported $6.11 earnings per share for the quarter, beating the consensus estimate of $5.96 by $0.15. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. The firm had revenue of $214.59 million for the quarter, compared to analyst estimates of $196.20 million. During the same quarter in the prior year, the firm posted $5.17 earnings per share. On average, sell-side analysts expect that Virtus Investment Partners, Inc. will post 26.41 earnings per share for the current fiscal 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 issued a $1.90 dividend. The ex-dividend date is Monday, April 29th. This represents a $7.60 annualized dividend and a dividend yield of 3.10%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 42.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in shares of Virtus Investment Partners by 128.0% in the fourth quarter. Barclays PLC now owns 12,818 shares of the closed-end fund’s stock valued at $3,099,000 after buying an additional 7,197 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Virtus Investment Partners by 6.0% in the fourth quarter. Vident Advisory LLC now owns 2,562 shares of the closed-end fund’s stock valued at $619,000 after buying an additional 146 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Virtus Investment Partners by 0.3% during the 4th quarter. Nuveen Asset Management LLC now owns 59,223 shares of the closed-end fund’s stock worth $14,318,000 after purchasing an additional 157 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Virtus Investment Partners by 66.3% during the 4th quarter. Public Sector Pension Investment Board now owns 14,019 shares of the closed-end fund’s stock worth $3,389,000 after purchasing an additional 5,590 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Virtus Investment Partners by 35.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 45,074 shares of the closed-end fund’s stock worth $10,897,000 after purchasing an additional 11,842 shares during the last quarter. 80.85% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

(Get Free Report)

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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