Schwab Charles Investment Management Inc. raised its holdings in Virtus Investment Partners Inc (NASDAQ:VRTS) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,617 shares of the closed-end fund’s stock after acquiring an additional 769 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Virtus Investment Partners were worth $3,523,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in Virtus Investment Partners in the third quarter valued at approximately $204,000. Cubist Systematic Strategies LLC lifted its stake in Virtus Investment Partners by 1,798.9% in the third quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after buying an additional 1,709 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in Virtus Investment Partners by 73.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after buying an additional 1,150 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Virtus Investment Partners by 45.7% in the third quarter. BNP Paribas Arbitrage SA now owns 3,607 shares of the closed-end fund’s stock valued at $419,000 after buying an additional 1,132 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Virtus Investment Partners by 40.6% in the second quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the closed-end fund’s stock valued at $594,000 after buying an additional 1,544 shares during the period. 95.81% of the stock is currently owned by hedge funds and other institutional investors.
Virtus Investment Partners stock opened at $132.05 on Monday. The company has a current ratio of 17.17, a quick ratio of 17.17 and a debt-to-equity ratio of 0.50. Virtus Investment Partners Inc has a 12-month low of $97.60 and a 12-month high of $135.90. The firm has a market capitalization of $946.97, a P/E ratio of 17.22, a PEG ratio of 0.29 and a beta of 1.74.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.18. Virtus Investment Partners had a return on equity of 13.75% and a net margin of 8.70%. The company had revenue of $128.00 million for the quarter, compared to analyst estimates of $127.09 million. During the same period in the prior year, the firm earned $1.75 earnings per share. Virtus Investment Partners’s revenue for the quarter was up 60.2% on a year-over-year basis. research analysts predict that Virtus Investment Partners Inc will post 12.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, April 27th. Virtus Investment Partners’s payout ratio is 45.57%.
Several equities analysts have issued reports on VRTS shares. TheStreet raised Virtus Investment Partners from a “c+” rating to a “b” rating in a research note on Thursday, November 30th. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Goldman Sachs raised Virtus Investment Partners from a “sell” rating to a “neutral” rating and set a $130.00 price target on the stock in a research note on Tuesday, January 9th. Sandler O’Neill set a $132.00 price target on Virtus Investment Partners and gave the company a “hold” rating in a research note on Thursday, January 11th. Finally, Zacks Investment Research raised Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Saturday, January 13th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $140.63.
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About Virtus Investment Partners
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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