Public Sector Pension Investment Board cut its position in Virtus Investment Partners Inc (NASDAQ:VRTS) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,966 shares of the closed-end fund’s stock after selling 300 shares during the period. Public Sector Pension Investment Board owned about 0.07% of Virtus Investment Partners worth $468,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its stake in Virtus Investment Partners by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 1,320 shares of the closed-end fund’s stock worth $129,000 after buying an additional 20 shares during the period. KBC Group NV increased its stake in Virtus Investment Partners by 181.9% in the third quarter. KBC Group NV now owns 1,818 shares of the closed-end fund’s stock worth $178,000 after buying an additional 1,173 shares during the period. Two Sigma Securities LLC acquired a new stake in Virtus Investment Partners during the third quarter worth $235,000. Weiss Asset Management LP acquired a new stake in Virtus Investment Partners during the third quarter worth $241,000. Finally, Louisiana State Employees Retirement System acquired a new stake in Virtus Investment Partners during the third quarter worth $245,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.
Virtus Investment Partners Inc (NASDAQ:VRTS) opened at 106.75 on Tuesday. The company has a market capitalization of $727.93 million, a P/E ratio of 17.22 and a beta of 1.84. The company’s 50-day moving average is $109.43 and its 200 day moving average is $108.16. Virtus Investment Partners Inc has a one year low of $66.12 and a one year high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Wednesday, January 25th. The closed-end fund reported $1.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.80 by $0.05. Virtus Investment Partners had a return on equity of 9.22% and a net margin of 15.04%. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $81.07 million. During the same period last year, the company posted $1.37 earnings per share. The business’s quarterly revenue was down 7.3% on a year-over-year basis. On average, equities analysts anticipate that Virtus Investment Partners Inc will post $7.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Friday, April 28th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, April 26th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 28.66%.
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A number of research firms have recently weighed in on VRTS. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a report on Friday, January 27th. Jefferies Group LLC reiterated a “hold” rating and set a $124.00 price target on shares of Virtus Investment Partners in a report on Wednesday, January 11th. TheStreet downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Monday, December 19th. Finally, Bank of America Corp initiated coverage on shares of Virtus Investment Partners in a report on Tuesday, January 31st. They set an “underperform” rating and a $110.00 price target on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Virtus Investment Partners has a consensus rating of “Hold” and a consensus target price of $105.00.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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