Schwab Charles Investment Management Inc. Buys 2,699 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Schwab Charles Investment Management Inc. raised its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,624 shares of the closed-end fund’s stock after buying an additional 2,699 shares during the period. Schwab Charles Investment Management Inc. owned 0.47% of Virtus Investment Partners worth $3,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Virtus Investment Partners by 26.5% in the 1st quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after acquiring an additional 135,509 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Virtus Investment Partners by 23.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock worth $50,082,000 after buying an additional 90,422 shares during the period. State Street Corp boosted its holdings in shares of Virtus Investment Partners by 16.8% during the 1st quarter. State Street Corp now owns 144,706 shares of the closed-end fund’s stock worth $15,327,000 after buying an additional 20,823 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Virtus Investment Partners by 356.1% during the 1st quarter. California Public Employees Retirement System now owns 87,112 shares of the closed-end fund’s stock worth $9,225,000 after buying an additional 68,012 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Virtus Investment Partners by 29.8% during the 1st quarter. Bank of New York Mellon Corp now owns 86,073 shares of the closed-end fund’s stock worth $9,115,000 after buying an additional 19,757 shares during the period. Hedge funds and other institutional investors own 95.60% of the company’s stock.



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Several analysts recently commented on the stock. Morgan Stanley set a $121.00 target price on shares of Virtus Investment Partners and gave the stock a “hold” rating in a report on Monday. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 12th. Jefferies Group LLC reissued a “hold” rating and issued a $127.00 price objective (up previously from $117.00) on shares of Virtus Investment Partners in a report on Tuesday, October 10th. Barclays PLC boosted their price objective on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Finally, Bank of America Corporation upgraded shares of Virtus Investment Partners from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $112.00 to $130.00 in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. Virtus Investment Partners has an average rating of “Hold” and an average price target of $129.00.

Virtus Investment Partners, Inc. (NASDAQ VRTS) opened at 120.50 on Friday. The firm has a 50-day moving average of $116.33 and a 200 day moving average of $110.56. The firm has a market capitalization of $869.65 million, a PE ratio of 23.45 and a beta of 1.76. Virtus Investment Partners, Inc. has a 12 month low of $92.80 and a 12 month high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The company had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $91.78 million. During the same quarter in the previous year, the company posted $1.24 EPS. The business’s quarterly revenue was up 17.5% on a year-over-year basis. Equities research analysts forecast that Virtus Investment Partners, Inc. will post $7.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.49%. Virtus Investment Partners’s payout ratio is 35.02%.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.

Institutional Ownership by Quarter for Virtus Investment Partners (NASDAQ:VRTS)

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