Oregon Public Employees Retirement Fund reduced its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS – Get Rating) by 3.6% during the 1st quarter, HoldingsChannel reports. The firm owned 2,669 shares of the closed-end fund’s stock after selling 100 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Virtus Investment Partners were worth $641,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allianz Asset Management GmbH grew its position in Virtus Investment Partners by 68.0% during the fourth quarter. Allianz Asset Management GmbH now owns 18,025 shares of the closed-end fund’s stock worth $5,356,000 after buying an additional 7,293 shares in the last quarter. Barclays PLC lifted its stake in Virtus Investment Partners by 47.9% during the fourth quarter. Barclays PLC now owns 10,952 shares of the closed-end fund’s stock worth $3,254,000 after purchasing an additional 3,548 shares during the period. AlphaCrest Capital Management LLC bought a new position in Virtus Investment Partners during the fourth quarter worth about $1,515,000. Raymond James Trust N.A. bought a new position in Virtus Investment Partners during the fourth quarter worth about $220,000. Finally, American Century Companies Inc. lifted its stake in Virtus Investment Partners by 55.0% during the fourth quarter. American Century Companies Inc. now owns 8,822 shares of the closed-end fund’s stock worth $2,621,000 after purchasing an additional 3,130 shares during the period. 85.06% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners Trading Up 2.4 %
NASDAQ:VRTS opened at $180.52 on Friday. Virtus Investment Partners, Inc. has a 1 year low of $161.30 and a 1 year high of $338.80. The firm has a 50 day moving average of $180.00 and a 200-day moving average of $218.87. The stock has a market capitalization of $1.35 billion, a P/E ratio of 7.02 and a beta of 1.63.
Virtus Investment Partners (NASDAQ:VRTS – Get Rating) last posted its earnings results on Friday, April 29th. The closed-end fund reported $7.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.91 by ($0.04). Virtus Investment Partners had a net margin of 20.16% and a return on equity of 35.94%. The firm had revenue of $221.95 million during the quarter, compared to the consensus estimate of $225.10 million. During the same quarter last year, the firm posted $6.78 EPS. As a group, analysts forecast that Virtus Investment Partners, Inc. will post 28.6 EPS for the current fiscal year.
Virtus Investment Partners Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 29th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.32%. The ex-dividend date is Thursday, July 28th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 23.32%.
Insider Buying and Selling
In related news, Director W Howard Morris sold 151 shares of the business’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $192.09, for a total value of $29,005.59. Following the completion of the transaction, the director now owns 738 shares in the company, valued at approximately $141,762.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of research analysts have commented on the stock. StockNews.com cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Sunday, May 8th. Morgan Stanley cut their price target on shares of Virtus Investment Partners from $203.00 to $155.00 and set an “underweight” rating for the company in a research note on Thursday, June 30th. Finally, Piper Sandler cut their price target on shares of Virtus Investment Partners from $289.00 to $268.00 and set an “overweight” rating for the company in a research note on Friday.
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.
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