nVerses Capital LLC Takes $42,000 Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

nVerses Capital LLC bought a new position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 200 shares of the closed-end fund’s stock, valued at approximately $42,000.

Several other large investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its position in shares of Virtus Investment Partners by 6,550.0% during the 2nd quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock worth $33,000 after acquiring an additional 131 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Virtus Investment Partners in the second quarter valued at approximately $42,000. Bessemer Group Inc. purchased a new position in Virtus Investment Partners in the first quarter valued at approximately $57,000. EntryPoint Capital LLC raised its holdings in Virtus Investment Partners by 625.6% during the first quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after purchasing an additional 269 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Virtus Investment Partners by 334.1% during the 2nd quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock worth $86,000 after buying an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $215.14 on Wednesday. The business has a 50 day simple moving average of $207.84 and a 200-day simple moving average of $219.13. Virtus Investment Partners, Inc. has a 12 month low of $168.78 and a 12 month high of $263.39. 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 stock has a market capitalization of $1.52 billion, a PE ratio of 14.41 and a beta of 1.46.

Virtus Investment Partners (NASDAQ:VRTS) last posted 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 firm had revenue of $203.02 million for the quarter, compared to analysts’ expectations of $204.71 million. Virtus Investment Partners had a return on equity of 20.35% and a net margin of 12.41%. Equities analysts predict that Virtus Investment Partners, Inc. will post 26.02 earnings per share for the current year.

Virtus Investment Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $9.00 dividend on an annualized basis and a yield of 4.18%. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio (DPR) is 50.90%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Virtus Investment Partners from $208.00 to $217.00 and gave the company an “underweight” rating in a research report on Friday, October 18th. TD Cowen reduced their target price 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. Barclays started coverage on Virtus Investment Partners in a research report on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price target on the stock. Finally, Piper Sandler decreased 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $233.50.

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.