Vanguard Group Inc. Reduces Stock Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Vanguard Group Inc. cut its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 911,307 shares of the closed-end fund’s stock after selling 4,164 shares during the period. Vanguard Group Inc. owned about 12.69% of Virtus Investment Partners worth $220,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC increased its position in Virtus Investment Partners by 29.2% during the fourth quarter. Signaturefd LLC now owns 221 shares of the closed-end fund’s stock valued at $53,000 after acquiring an additional 50 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Virtus Investment Partners by 550.0% in the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock worth $44,000 after purchasing an additional 154 shares during the period. Mariner LLC boosted its holdings in shares of Virtus Investment Partners by 12.2% in the third quarter. Mariner LLC now owns 2,432 shares of the closed-end fund’s stock worth $491,000 after buying an additional 265 shares during the last quarter. Deutsche Bank AG grew its position in Virtus Investment Partners by 12.4% during the third quarter. Deutsche Bank AG now owns 3,494 shares of the closed-end fund’s stock valued at $706,000 after buying an additional 385 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Virtus Investment Partners by 1.4% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 54,260 shares of the closed-end fund’s stock valued at $13,118,000 after buying an additional 770 shares during the last quarter. 80.52% of the stock is owned by institutional investors.

Virtus Investment Partners Stock Performance

Shares of VRTS stock opened at $222.92 on Tuesday. The stock has a fifty day simple moving average of $225.98 and a two-hundred day simple moving average of $232.54. The firm has a market capitalization of $1.59 billion, a PE ratio of 13.43 and a beta of 1.46. Virtus Investment Partners, Inc. has a 52-week low of $168.78 and a 52-week high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $5.41. Virtus Investment Partners had a return on equity of 19.61% and a net margin of 14.02%. The firm had revenue of $200.24 million during the quarter, compared to analysts’ expectations of $203.54 million. On average, sell-side analysts forecast that Virtus Investment Partners, Inc. will post 26.58 EPS for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Wednesday, July 31st. Virtus Investment Partners’s payout ratio is currently 45.78%.

Insider Transactions at Virtus Investment Partners

In related news, EVP Barry M. Mandinach sold 7,886 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $234.00, for a total transaction of $1,845,324.00. Following the completion of the transaction, the executive vice president now directly owns 12,418 shares of the company’s stock, valued at $2,905,812. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VRTS shares. Morgan Stanley boosted their price objective on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Piper Sandler raised their price objective on Virtus Investment Partners from $265.00 to $267.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, TD Cowen boosted their price objective on Virtus Investment Partners from $245.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, April 29th.

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.