XTX Topco Ltd Boosts Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

XTX Topco Ltd boosted its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 124.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,753 shares of the closed-end fund’s stock after buying an additional 1,526 shares during the quarter. XTX Topco Ltd’s holdings in Virtus Investment Partners were worth $622,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VRTS. Norges Bank purchased a new stake in Virtus Investment Partners in the 4th quarter valued at approximately $14,649,000. Basswood Capital Management L.L.C. raised its holdings in Virtus Investment Partners by 120.8% in 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. Hotchkis & Wiley Capital Management LLC raised its holdings in Virtus Investment Partners by 1.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 54,260 shares of the closed-end fund’s stock valued at $13,118,000 after acquiring an additional 770 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Virtus Investment Partners in the 1st quarter valued at $901,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Virtus Investment Partners by 51.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,304 shares of the closed-end fund’s stock valued at $571,000 after acquiring an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Up 0.5 %

Shares of NASDAQ VRTS opened at $208.20 on Tuesday. Virtus Investment Partners, Inc. has a 12-month low of $168.78 and a 12-month high of $263.39. The company has a market cap of $1.48 billion, a P/E ratio of 12.54 and a beta of 1.46. The company has a current ratio of 15.18, a quick ratio of 15.18 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $212.53 and a 200 day moving average price of $223.78.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results 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). The company had revenue of $203.02 million during the quarter, compared to analyst estimates of $204.71 million. Virtus Investment Partners had a net margin of 12.41% and a return on equity of 20.35%. Research analysts anticipate that Virtus Investment Partners, Inc. will post 25.8 EPS for the current fiscal year.

Virtus Investment Partners Increases Dividend

The business 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 is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.32%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 54.22%.

Wall Street Analyst Weigh In

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

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.