Virtus Investment Partners, Inc. (NASDAQ:VRTS) Announces Quarterly Dividend of $2.40

Virtus Investment Partners, Inc. (NASDAQ:VRTS) announced a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Friday, October 31st will be given a dividend of 2.40 per share by the closed-end fund on Friday, November 14th. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Friday, October 31st. This is a 6.7% increase from Virtus Investment Partners’s previous quarterly dividend of $2.25.

Virtus Investment Partners Stock Down 2.0%

VRTS opened at $194.43 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86. The business has a 50 day simple moving average of $192.00 and a 200-day simple moving average of $178.76. The stock has a market capitalization of $1.31 billion, a P/E ratio of 11.50 and a beta of 1.41. Virtus Investment Partners has a 12 month low of $142.18 and a 12 month high of $252.82.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, July 25th. The closed-end fund reported $6.25 EPS for the quarter, beating the consensus estimate of $6.17 by $0.08. The business had revenue of $210.53 million during the quarter, compared to analysts’ expectations of $191.90 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same period last year, the firm earned $6.53 EPS. On average, equities analysts anticipate that Virtus Investment Partners will post 27.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Virtus Investment Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen LLC purchased a new position in Virtus Investment Partners during the first quarter worth $9,639,000. Gator Capital Management LLC increased its position in Virtus Investment Partners by 190.7% during the first quarter. Gator Capital Management LLC now owns 60,810 shares of the closed-end fund’s stock worth $10,481,000 after buying an additional 39,895 shares in the last quarter. Norges Bank purchased a new position in Virtus Investment Partners during the second quarter worth $7,177,000. American Century Companies Inc. increased its position in Virtus Investment Partners by 38.5% during the first quarter. American Century Companies Inc. now owns 113,192 shares of the closed-end fund’s stock worth $19,510,000 after buying an additional 31,454 shares in the last quarter. Finally, Jump Financial LLC increased its position in Virtus Investment Partners by 547.9% during the second quarter. Jump Financial LLC now owns 30,322 shares of the closed-end fund’s stock worth $5,500,000 after buying an additional 25,642 shares in the last quarter. 80.52% of the stock is owned by institutional investors and hedge funds.

About Virtus Investment Partners

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.