WCM Investment Management LLC trimmed its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS – Get Rating) by 12.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 113,801 shares of the closed-end fund’s stock after selling 16,099 shares during the period. WCM Investment Management LLC owned 1.57% of Virtus Investment Partners worth $21,786,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC raised its holdings in shares of Virtus Investment Partners by 82.1% in the first quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after buying an additional 69 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Virtus Investment Partners by 10.3% in the first quarter. Guggenheim Capital LLC now owns 953 shares of the closed-end fund’s stock valued at $229,000 after acquiring an additional 89 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in shares of Virtus Investment Partners by 4.5% in the first quarter. Laurel Wealth Advisors Inc. now owns 2,236 shares of the closed-end fund’s stock valued at $537,000 after acquiring an additional 97 shares in the last quarter. Credit Suisse AG boosted its holdings in shares of Virtus Investment Partners by 2.3% in the third quarter. Credit Suisse AG now owns 6,536 shares of the closed-end fund’s stock valued at $1,043,000 after acquiring an additional 149 shares in the last quarter. Finally, Point72 Hong Kong Ltd boosted its holdings in shares of Virtus Investment Partners by 1,937.5% in the first quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund’s stock valued at $39,000 after acquiring an additional 155 shares in the last quarter. 80.91% of the stock is owned by hedge funds and other institutional investors.
Virtus Investment Partners Stock Up 2.4 %
Shares of VRTS traded up $4.26 on Friday, reaching $182.36. The stock had a trading volume of 12,591 shares, compared to its average volume of 77,305. The firm has a market capitalization of $1.33 billion, a PE ratio of 11.47 and a beta of 1.61. The firm has a 50-day moving average of $187.72 and a 200 day moving average of $190.77. Virtus Investment Partners, Inc. has a twelve month low of $141.80 and a twelve month high of $248.23.
Virtus Investment Partners (NASDAQ:VRTS – Get Rating) last released its quarterly earnings results on Friday, February 3rd. The closed-end fund reported $5.17 earnings per share for the quarter, topping analysts’ consensus estimates of $4.88 by $0.29. The business had revenue of $176.27 million for the quarter, compared to analysts’ expectations of $176.21 million. Virtus Investment Partners had a return on equity of 24.06% and a net margin of 13.26%. On average, sell-side analysts anticipate that Virtus Investment Partners, Inc. will post 23.26 earnings per share for the current fiscal year.
Virtus Investment Partners Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 28th will be given a $1.65 dividend. The ex-dividend date is Thursday, April 27th. This represents a $6.60 annualized dividend and a dividend yield of 3.62%. Virtus Investment Partners’s dividend payout ratio is presently 42.50%.
Analysts Set New Price Targets
Several analysts have recently commented on the company. StockNews.com assumed coverage on Virtus Investment Partners in a report on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley raised their price target on Virtus Investment Partners from $134.00 to $150.00 and gave the company an “underweight” rating in a report on Thursday, January 19th. Finally, Piper Sandler raised Virtus Investment Partners from a “neutral” rating to an “overweight” rating and raised their price target for the company from $248.00 to $260.00 in a report on Monday, March 27th.
About Virtus Investment Partners
Virtus Investment Partners, Inc is an asset management company, which engages in the provision of investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional, closed-end funds, Virtus variable insurance trust funds, and other portfolio.
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