American Century Companies Inc. Has $13.71 Million Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

American Century Companies Inc. reduced its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,680 shares of the closed-end fund’s stock after selling 1,568 shares during the quarter. American Century Companies Inc. owned approximately 0.85% of Virtus Investment Partners worth $13,705,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in VRTS. Blue Trust Inc. increased its stake in shares of Virtus Investment Partners by 6,550.0% in the second quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 131 shares during the period. Bessemer Group Inc. acquired a new stake in Virtus Investment Partners in the 1st quarter valued at approximately $57,000. EntryPoint Capital LLC increased its position in Virtus Investment Partners by 625.6% in the 1st quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after buying an additional 269 shares during the period. CWM LLC boosted its position in shares of Virtus Investment Partners by 334.1% in the second quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock valued at $86,000 after acquiring an additional 294 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Virtus Investment Partners in the second quarter worth $164,000. Institutional investors own 80.52% of the company’s stock.

Analyst Ratings Changes

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

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $207.21 on Friday. The business has a 50 day simple moving average of $212.99 and a 200 day simple moving average of $224.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 15.18 and a quick ratio of 15.18. The company has a market capitalization of $1.48 billion, a PE ratio of 12.48 and a beta of 1.46. Virtus Investment Partners, Inc. has a one year low of $168.78 and a one year high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, July 26th. The closed-end fund reported $6.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $203.02 million for the quarter, compared to the consensus estimate of $204.71 million. On average, sell-side analysts forecast that Virtus Investment Partners, Inc. will post 25.8 EPS for the current fiscal year.

Virtus Investment Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $1.90. This represents a $9.00 dividend on an annualized basis and a yield of 4.34%. Virtus Investment Partners’s payout ratio is 54.22%.

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.