Virtus Investment Partners, Inc. (NASDAQ:VRTS) Stock Holdings Lowered by Huber Capital Management LLC

Huber Capital Management LLC cut its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 14.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,608 shares of the closed-end fund’s stock after selling 2,000 shares during the period. Huber Capital Management LLC owned approximately 0.16% of Virtus Investment Partners worth $2,622,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in VRTS. Sei Investments Co. lifted its position in shares of Virtus Investment Partners by 7.7% during the 2nd quarter. Sei Investments Co. now owns 2,424 shares of the closed-end fund’s stock valued at $548,000 after acquiring an additional 174 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Virtus Investment Partners during the second quarter worth $201,000. XTX Topco Ltd boosted its position in shares of Virtus Investment Partners by 124.4% in the 2nd quarter. XTX Topco Ltd now owns 2,753 shares of the closed-end fund’s stock valued at $622,000 after purchasing an additional 1,526 shares during the period. Hsbc Holdings PLC increased its stake in Virtus Investment Partners by 7.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,852 shares of the closed-end fund’s stock worth $412,000 after purchasing an additional 124 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Virtus Investment Partners by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 328,067 shares of the closed-end fund’s stock worth $74,092,000 after purchasing an additional 8,393 shares in the last quarter. 80.52% of the stock is currently owned by institutional investors.

Virtus Investment Partners Stock Down 1.3 %

VRTS stock opened at $207.21 on Friday. The company has a 50 day moving average of $212.99 and a two-hundred day moving average of $224.24. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.48 and a beta of 1.46. Virtus Investment Partners, Inc. has a 12-month low of $168.78 and a 12-month high of $263.39. The company has a quick ratio of 15.18, a current ratio of 15.18 and a debt-to-equity ratio of 0.28.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, July 26th. The closed-end fund reported $6.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.08). Virtus Investment Partners had a return on equity of 20.35% and a net margin of 12.41%. The firm had revenue of $203.02 million for the quarter, compared to analysts’ expectations of $204.71 million. On average, equities analysts anticipate that Virtus Investment Partners, Inc. will post 25.8 earnings per share for the current fiscal year.

Virtus Investment Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $9.00 dividend on an annualized basis and a yield of 4.34%. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio is currently 54.22%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler decreased their target price on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Barclays started coverage on shares of Virtus Investment Partners in a research report on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price objective on the stock. Morgan Stanley reduced their target price on Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating for the company in a report on Monday, July 29th. Finally, TD Cowen lowered their price target on Virtus Investment Partners from $250.00 to $247.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $231.25.

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.