Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC raised its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 78.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,952 shares of the closed-end fund’s stock after acquiring an additional 22,344 shares during the period. AQR Capital Management LLC owned approximately 0.71% of Virtus Investment Partners worth $11,508,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in Virtus Investment Partners during the fourth quarter worth approximately $14,649,000. Lombard Odier Asset Management Europe Ltd purchased a new position in shares of Virtus Investment Partners during the 2nd quarter worth $6,776,000. Basswood Capital Management L.L.C. boosted its position in shares of Virtus Investment Partners by 120.8% during the 4th quarter. Basswood Capital Management L.L.C. now owns 31,620 shares of the closed-end fund’s stock valued at $7,644,000 after acquiring an additional 17,300 shares during the last quarter. Meritage Portfolio Management purchased a new stake in shares of Virtus Investment Partners in the first quarter valued at about $4,145,000. Finally, SG Americas Securities LLC acquired a new stake in Virtus Investment Partners during the second quarter worth about $2,553,000. 80.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on VRTS. Morgan Stanley decreased their target price on shares of Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating on the stock in a report on Monday, July 29th. Barclays started coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $206.00 price objective for the company. Piper Sandler reduced their target price on Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen lowered their price target on Virtus Investment Partners from $250.00 to $247.00 and set a “hold” rating for the company in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $231.25.

Virtus Investment Partners Stock Down 2.1 %

Virtus Investment Partners stock opened at $205.13 on Wednesday. The company has a market capitalization of $1.45 billion, a PE ratio of 12.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 15.18 and a current ratio of 15.18. Virtus Investment Partners, Inc. has a fifty-two week low of $168.78 and a fifty-two week high of $263.39. The firm has a 50 day moving average price of $208.99 and a 200 day moving average price of $222.48.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, July 26th. The closed-end fund reported $6.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.08). Virtus Investment Partners had a net margin of 12.41% and a return on equity of 20.35%. The firm had revenue of $203.02 million during the quarter, compared to analysts’ expectations of $204.71 million. Research analysts expect that Virtus Investment Partners, Inc. will post 25.8 earnings per share for the current year.

Virtus Investment Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio is currently 45.78%.

Virtus Investment Partners 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.