Virtus Investment Partners (NASDAQ:VRTS) Price Target Cut to $247.00

Virtus Investment Partners (NASDAQ:VRTSFree Report) had its price target lowered by TD Cowen from $250.00 to $247.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a hold rating on the closed-end fund’s stock.

VRTS has been the topic of several other research reports. downgraded shares of Virtus Investment Partners from a buy rating to a hold rating in a research report on Tuesday, April 9th. Piper Sandler upped their target price on shares of Virtus Investment Partners from $265.00 to $267.00 and gave the stock an overweight rating in a research report on Wednesday, May 29th. Finally, Morgan Stanley increased their price target on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an underweight rating in a research note on Wednesday, April 17th.

Read Our Latest Stock Analysis on Virtus Investment Partners

Virtus Investment Partners Stock Up 2.0 %

NASDAQ VRTS opened at $227.16 on Monday. Virtus Investment Partners has a twelve month low of $168.78 and a twelve month high of $263.39. The stock has a market cap of $1.62 billion, a P/E ratio of 13.68 and a beta of 1.46. The company’s 50-day simple moving average is $225.60 and its 200 day simple moving average is $232.28.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $5.41. Virtus Investment Partners had a return on equity of 19.61% and a net margin of 14.02%. The company had revenue of $200.24 million during the quarter, compared to analysts’ expectations of $203.54 million. Research analysts anticipate that Virtus Investment Partners will post 26.58 earnings per share for the current year.

Virtus Investment Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $1.90 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $7.60 annualized dividend and a yield of 3.35%. Virtus Investment Partners’s dividend payout ratio is currently 45.78%.

Insider Buying and Selling

In other news, EVP Barry M. Mandinach sold 7,886 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $234.00, for a total value of $1,845,324.00. Following the sale, the executive vice president now directly owns 12,418 shares in the company, valued at $2,905,812. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CWM LLC grew its position in shares of Virtus Investment Partners by 334.1% in the 2nd 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. Cetera Advisors LLC acquired a new stake in Virtus Investment Partners in the 1st quarter valued at about $657,000. Tidal Investments LLC grew its holdings in Virtus Investment Partners by 9.4% during the first quarter. Tidal Investments LLC now owns 1,048 shares of the closed-end fund’s stock worth $260,000 after purchasing an additional 90 shares during the period. BOKF NA acquired a new position in Virtus Investment Partners during the first quarter worth approximately $282,000. Finally, Quadrature Capital Ltd raised its stake in Virtus Investment Partners by 80.2% in the first quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock valued at $5,825,000 after buying an additional 10,461 shares during the period. 80.52% of the stock is currently owned by institutional investors.

Virtus Investment Partners Company Profile

(Get Free Report)

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.

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