Piedmont Investment Advisors LLC purchased a new position in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,677 shares of the closed-end fund’s stock, valued at approximately $215,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of VRTS. Renaissance Technologies LLC increased its stake in shares of Virtus Investment Partners by 155.4% in the 4th quarter. Renaissance Technologies LLC now owns 31,229 shares of the closed-end fund’s stock valued at $3,593,000 after acquiring an additional 19,000 shares during the last quarter. Gendell Jeffrey L acquired a new stake in shares of Virtus Investment Partners in the 1st quarter valued at approximately $1,106,000. Eqis Capital Management Inc. acquired a new stake in shares of Virtus Investment Partners in the 2nd quarter valued at approximately $668,000. Nuveen Asset Management LLC acquired a new stake in shares of Virtus Investment Partners in the 1st quarter valued at approximately $642,000. Finally, Marcato Capital Management LP boosted its holdings in shares of Virtus Investment Partners by 6.9% in the 1st quarter. Marcato Capital Management LP now owns 74,800 shares of the closed-end fund’s stock valued at $9,260,000 after buying an additional 4,801 shares during the last quarter. Institutional investors and hedge funds own 97.51% of the company’s stock.
Several equities research analysts have issued reports on the company. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Wednesday, June 6th. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Saturday, June 30th. Credit Suisse Group increased their price objective on Virtus Investment Partners from $174.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Barclays increased their price objective on Virtus Investment Partners from $132.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, July 30th. Finally, Morgan Stanley raised their price target on Virtus Investment Partners from $137.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $142.00.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, July 27th. The closed-end fund reported $2.97 EPS for the quarter, missing the Zacks’ consensus estimate of $3.02 by ($0.05). The company had revenue of $132.93 million during the quarter, compared to analyst estimates of $134.07 million. Virtus Investment Partners had a return on equity of 17.39% and a net margin of 13.76%. Virtus Investment Partners’s revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. sell-side analysts predict that Virtus Investment Partners Inc will post 12.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be issued a $0.55 dividend. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.45. This represents a $2.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, October 30th. Virtus Investment Partners’s payout ratio is presently 23.44%.
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.
Recommended Story: What is a Leveraged Buyout (LBO)?
Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.