Victory Capital Management Inc. Decreases Stake in Virtus Investment Partners Inc (VRTS)

Victory Capital Management Inc. decreased its position in Virtus Investment Partners Inc (NASDAQ:VRTS) by 6.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 395,563 shares of the closed-end fund’s stock after selling 26,075 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Virtus Investment Partners worth $44,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of VRTS. Piedmont Investment Advisors LLC acquired a new position in shares of Virtus Investment Partners in the 2nd quarter worth approximately $215,000. Aperio Group LLC acquired a new position in shares of Virtus Investment Partners in the 2nd quarter worth approximately $218,000. Crossmark Global Holdings Inc. acquired a new position in shares of Virtus Investment Partners in the 2nd quarter worth approximately $239,000. SG Americas Securities LLC acquired a new position in shares of Virtus Investment Partners in the 2nd quarter worth approximately $272,000. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Virtus Investment Partners by 47.7% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 2,564 shares of the closed-end fund’s stock worth $328,000 after acquiring an additional 828 shares in the last quarter. Institutional investors own 97.51% of the company’s stock.

Several research analysts have recently commented on VRTS shares. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research report on Saturday, October 13th. Credit Suisse Group set a $150.00 price target on Virtus Investment Partners and gave the stock a “buy” rating in a report on Monday, October 29th. Barclays raised their price target on Virtus Investment Partners from $132.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, July 30th. BidaskClub downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, ValuEngine downgraded Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $134.67.

Shares of NASDAQ VRTS opened at $103.42 on Friday. The company has a market capitalization of $734.74 million, a P/E ratio of 13.47, a P/E/G ratio of 0.34 and a beta of 1.40. Virtus Investment Partners Inc has a 12-month low of $96.22 and a 12-month high of $138.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 27.62 and a current ratio of 27.62.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, October 26th. The closed-end fund reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.30. The business had revenue of $152.20 million for the quarter, compared to the consensus estimate of $149.06 million. Virtus Investment Partners had a return on equity of 19.38% and a net margin of 14.55%. The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $2.30 EPS. On average, research analysts forecast that Virtus Investment Partners Inc will post 12.4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a $0.55 dividend. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $2.20 annualized dividend and a dividend yield of 2.13%. Virtus Investment Partners’s dividend payout ratio (DPR) is 28.65%.

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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.

Further Reading: Insider Trading – What You Need to Know

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Institutional Ownership by Quarter for Virtus Investment Partners (NASDAQ:VRTS)

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