Virtus Investment Partners (NASDAQ:VRTS) Price Target Increased to $250.00 by Analysts at TD Cowen

Virtus Investment Partners (NASDAQ:VRTS) had its price objective lifted by TD Cowen from $245.00 to $250.00 in a research report report published on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the closed-end fund’s stock.

Several other analysts have also recently commented on the stock. Morgan Stanley raised 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 note on Wednesday, April 17th. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $275.00 to $265.00 and set an overweight rating for the company in a research report on Monday. Finally, StockNews.com cut Virtus Investment Partners from a buy rating to a hold rating in a research report on Tuesday, April 9th.

Virtus Investment Partners Stock Performance

NASDAQ VRTS opened at $222.60 on Monday. The firm’s fifty day moving average is $235.53 and its two-hundred day moving average is $222.20. Virtus Investment Partners has a one year low of $165.00 and a one year high of $263.39. The firm has a market cap of $1.60 billion, a PE ratio of 9.83 and a beta of 1.52.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $5.41. The firm had revenue of $200.24 million for the quarter, compared to analyst estimates of $203.54 million. Virtus Investment Partners had a return on equity of 19.68% and a net margin of 14.02%. Research analysts predict that Virtus Investment Partners will post 27.04 earnings per share for the current year.

Virtus Investment Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $1.90 per share. The ex-dividend date is Monday, April 29th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.41%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.78%.

Institutional Trading of Virtus Investment Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Virtus Investment Partners in the 3rd quarter valued at approximately $757,000. Bank of New York Mellon Corp raised its stake in shares of Virtus Investment Partners by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,720 shares of the closed-end fund’s stock worth $21,152,000 after buying an additional 557 shares during the last quarter. Brown Advisory Inc. grew its stake in Virtus Investment Partners by 3.3% in the 3rd quarter. Brown Advisory Inc. now owns 89,496 shares of the closed-end fund’s stock valued at $18,077,000 after acquiring an additional 2,836 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Virtus Investment Partners by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,650 shares of the closed-end fund’s stock valued at $333,000 after acquiring an additional 65 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Virtus Investment Partners by 23.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 3,043 shares of the closed-end fund’s stock valued at $615,000 after acquiring an additional 570 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Virtus Investment Partners Company Profile

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.