Virtus Investment Partners (NASDAQ:VRTS) PT Lowered to $265.00

Virtus Investment Partners (NASDAQ:VRTS) had its price objective reduced by Piper Sandler from $275.00 to $265.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the closed-end fund’s stock.

Other research analysts have also recently issued reports about the company. StockNews.com cut Virtus Investment Partners from a buy rating to a hold rating in a research note on Tuesday, April 9th. Morgan Stanley boosted their target price on Virtus Investment Partners from $211.00 to $224.00 and gave the company an underweight rating in a research note on Wednesday, April 17th. Finally, TD Cowen cut Virtus Investment Partners from a buy rating to a hold rating and decreased their target price for the company from $285.00 to $264.00 in a research note on Monday, April 8th.

Virtus Investment Partners Stock Down 2.2 %

Shares of Virtus Investment Partners stock opened at $222.60 on Monday. Virtus Investment Partners has a 12 month low of $165.00 and a 12 month high of $263.39. The business has a fifty day simple moving average of $235.53 and a 200 day simple moving average of $222.20. The stock has a market cap of $1.60 billion, a PE ratio of 9.83 and a beta of 1.52.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, April 26th. The closed-end fund reported $5.41 EPS for the quarter, hitting analysts’ consensus estimates of $5.41. Virtus Investment Partners had a return on equity of 19.68% and a net margin of 14.02%. The business had revenue of $200.24 million during the quarter, compared to analysts’ expectations of $203.54 million. Analysts expect that Virtus Investment Partners will post 27.04 EPS for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a dividend of $1.90 per share. The ex-dividend date is Monday, April 29th. This represents a $7.60 annualized dividend and a dividend yield of 3.41%. Virtus Investment Partners’s dividend payout ratio is currently 45.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its position in shares of Virtus Investment Partners by 29.2% during the fourth quarter. Signaturefd LLC now owns 221 shares of the closed-end fund’s stock worth $53,000 after buying an additional 50 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Virtus Investment Partners by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,650 shares of the closed-end fund’s stock worth $333,000 after buying an additional 65 shares during the period. Swiss National Bank boosted its position in shares of Virtus Investment Partners by 0.6% during the third quarter. Swiss National Bank now owns 16,000 shares of the closed-end fund’s stock worth $3,232,000 after buying an additional 100 shares during the period. Blue Trust Inc. raised its holdings in Virtus Investment Partners by 550.0% during the fourth quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after acquiring an additional 154 shares in the last quarter. Finally, Mariner LLC raised its holdings in Virtus Investment Partners by 12.2% during the third quarter. Mariner LLC now owns 2,432 shares of the closed-end fund’s stock worth $491,000 after acquiring an additional 265 shares in the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.

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.