Texas Permanent School Fund Decreases Stock Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Texas Permanent School Fund lessened its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS – Get Rating) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,922 shares of the closed-end fund’s stock after selling 169 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Virtus Investment Partners worth $785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in Virtus Investment Partners by 82.1% during the 1st quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after buying an additional 69 shares during the period. Point72 Hong Kong Ltd raised its holdings in Virtus Investment Partners by 1,937.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 163 shares of the closed-end fund’s stock valued at $39,000 after buying an additional 155 shares during the period. CWM LLC raised its holdings in Virtus Investment Partners by 154.3% during the 2nd quarter. CWM LLC now owns 239 shares of the closed-end fund’s stock valued at $41,000 after buying an additional 145 shares during the period. Quadrant Capital Group LLC raised its holdings in Virtus Investment Partners by 79.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 280 shares of the closed-end fund’s stock valued at $48,000 after buying an additional 124 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Virtus Investment Partners by 37.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 572 shares of the closed-end fund’s stock valued at $138,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 80.91% of the company’s stock.

Virtus Investment Partners Stock Performance

VRTS stock opened at $214.78 on Friday. The company has a quick ratio of 13.06, a current ratio of 13.06 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $192.83 and its two-hundred day simple moving average is $186.61. Virtus Investment Partners, Inc. has a twelve month low of $141.80 and a twelve month high of $285.77. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 12.60 and a beta of 1.63.

Virtus Investment Partners (NASDAQ:VRTS – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The closed-end fund reported $5.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.39 by ($0.63). Virtus Investment Partners had a return on equity of 29.33% and a net margin of 13.83%. The firm had revenue of $185.69 million for the quarter, compared to the consensus estimate of $183.12 million. Analysts predict that Virtus Investment Partners, Inc. will post 25.38 earnings per share for the current year.

Virtus Investment Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st will be given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Monday, January 30th. Virtus Investment Partners’s payout ratio is 38.71%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRTS. StockNews.com began coverage on Virtus Investment Partners in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler reduced their target price on Virtus Investment Partners from $268.00 to $248.00 in a research note on Tuesday, October 11th. Finally, Morgan Stanley reduced their target price on Virtus Investment Partners from $142.00 to $134.00 and set an “underweight” rating on the stock in a research note on Friday, October 28th.

Virtus Investment Partners Company Profile

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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.