Virtus Investment Partners (NASDAQ:VRTS) Shares Gap Down to $230.75

Virtus Investment Partners, Inc. (NASDAQ:VRTS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $230.75, but opened at $217.96. Virtus Investment Partners shares last traded at $230.46, with a volume of 1,079 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VRTS shares. TD Cowen cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $285.00 to $264.00 in a research report on Monday, April 8th. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Piper Sandler raised their price target on shares of Virtus Investment Partners from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, Morgan Stanley raised their price target on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th.

Virtus Investment Partners Trading Down 1.4 %

The firm has a market cap of $1.63 billion, a P/E ratio of 12.85 and a beta of 1.52. The business’s fifty day simple moving average is $235.74 and its 200-day simple moving average is $221.52.

Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $5.41. The firm had revenue of $200.24 million for the quarter, compared to analyst estimates of $203.54 million. Virtus Investment Partners had a net margin of 15.45% and a return on equity of 18.83%. Analysts anticipate that Virtus Investment Partners, Inc. will post 27.04 earnings per share for the current year.

Virtus Investment Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s payout ratio is 42.91%.

Institutional Investors Weigh In On Virtus Investment Partners

Large investors have recently modified their holdings of the stock. Signaturefd LLC lifted its position in Virtus Investment Partners by 44.9% during the 3rd quarter. Signaturefd LLC now owns 171 shares of the closed-end fund’s stock valued at $35,000 after acquiring an additional 53 shares during the period. Blue Trust Inc. lifted its position in Virtus Investment Partners by 550.0% during the 4th quarter. Blue Trust Inc. now owns 182 shares of the closed-end fund’s stock valued at $44,000 after acquiring an additional 154 shares during the period. Everence Capital Management Inc. purchased a new position in Virtus Investment Partners during the 4th quarter valued at about $222,000. QRG Capital Management Inc. purchased a new position in Virtus Investment Partners during the 4th quarter valued at about $250,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Virtus Investment Partners during the 3rd quarter valued at about $285,000. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Company Profile

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.