Virtus Investment Partners (NASDAQ:VRTS) Price Target Raised to $267.00

Virtus Investment Partners (NASDAQ:VRTSFree Report) had its target price raised by Piper Sandler from $265.00 to $267.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the closed-end fund’s stock.

Several other research firms also recently commented on VRTS. Morgan Stanley boosted their target price on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the stock an underweight rating in a research report on Wednesday, April 17th. TD Cowen boosted their target price on shares of Virtus Investment Partners from $245.00 to $250.00 and gave the stock a hold rating in a research report on Monday, April 29th. Finally, StockNews.com downgraded shares of Virtus Investment Partners from a buy rating to a hold rating in a research report on Tuesday, April 9th.

View Our Latest Stock Report on Virtus Investment Partners

Virtus Investment Partners Trading Up 0.8 %

Shares of NASDAQ VRTS opened at $228.59 on Wednesday. The firm’s 50-day moving average price is $232.42 and its 200-day moving average price is $229.12. Virtus Investment Partners has a 1-year low of $168.78 and a 1-year high of $263.39. The firm has a market capitalization of $1.63 billion, a P/E ratio of 13.77 and a beta of 1.50.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last posted its earnings results on Friday, April 26th. The closed-end fund reported $5.41 EPS for the quarter, hitting the consensus estimate of $5.41. The company had revenue of $200.24 million during the quarter, compared to the consensus estimate of $203.54 million. Virtus Investment Partners had a net margin of 14.02% and a return on equity of 19.61%. Equities research analysts forecast that Virtus Investment Partners will post 26.43 EPS for the current year.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Wednesday, July 31st. Virtus Investment Partners’s payout ratio is 45.78%.

Insiders Place Their Bets

In other Virtus Investment Partners news, EVP Barry M. Mandinach sold 7,886 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $234.00, for a total value of $1,845,324.00. Following the completion of the sale, the executive vice president now directly owns 12,418 shares of the company’s stock, valued at approximately $2,905,812. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Virtus Investment Partners

A number of institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Virtus Investment Partners by 44.9% during the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock valued at $35,000 after acquiring an additional 53 shares during the period. Blue Trust Inc. grew its position in shares of Virtus Investment Partners by 550.0% during the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock valued at $44,000 after acquiring an additional 154 shares during the period. Bessemer Group Inc. bought a new position in shares of Virtus Investment Partners during the 1st quarter valued at approximately $57,000. EntryPoint Capital LLC grew its position in shares of Virtus Investment Partners by 625.6% during the 1st quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock valued at $77,000 after acquiring an additional 269 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in shares of Virtus Investment Partners during the 1st quarter valued at approximately $220,000. 80.52% of the stock is 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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