The Manufacturers Life Insurance Company raised its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 40.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,347 shares of the closed-end fund’s stock after purchasing an additional 1,544 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Virtus Investment Partners worth $594,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of VRTS. State of Alaska Department of Revenue grew its position in shares of Virtus Investment Partners by 83.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock worth $144,000 after buying an additional 595 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in Virtus Investment Partners by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,570 shares of the closed-end fund’s stock valued at $174,000 after acquiring an additional 100 shares during the period. Aperio Group LLC bought a new position in Virtus Investment Partners during the 2nd quarter valued at about $205,000. OppenheimerFunds Inc. lifted its stake in shares of Virtus Investment Partners by 25.4% in the 1st quarter. OppenheimerFunds Inc. now owns 2,288 shares of the closed-end fund’s stock worth $243,000 after purchasing an additional 464 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in shares of Virtus Investment Partners in the 1st quarter worth approximately $249,000. 95.78% of the stock is owned by institutional investors.
Shares of Virtus Investment Partners, Inc. (VRTS) traded down $1.05 during mid-day trading on Thursday, hitting $118.70. The stock had a trading volume of 32,253 shares, compared to its average volume of 70,851. The stock has a market capitalization of $862.18, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.64 and a beta of 1.89. Virtus Investment Partners, Inc. has a 1-year low of $97.60 and a 1-year high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.08). The company had revenue of $123.70 million during the quarter, compared to analyst estimates of $116.85 million. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The company’s revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 earnings per share. equities analysts anticipate that Virtus Investment Partners, Inc. will post 7.52 earnings per share for the current year.
A number of equities research analysts have issued reports on the stock. BidaskClub lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Jefferies Group reissued a “hold” rating and issued a $117.00 target price on shares of Virtus Investment Partners in a report on Friday, August 18th. ValuEngine downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Barclays initiated coverage on Virtus Investment Partners in a research report on Friday, September 8th. They issued an “equal weight” rating and a $113.00 price target for the company. Finally, Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 target price for the company in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $130.50.
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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.
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