Vulcan Value Partners LLC Decreases Position in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Vulcan Value Partners LLC decreased its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 18.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,890 shares of the closed-end fund’s stock after selling 28,486 shares during the quarter. Vulcan Value Partners LLC owned about 1.81% of Virtus Investment Partners worth $29,110,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Virtus Investment Partners during the fourth quarter valued at $14,649,000. Lombard Odier Asset Management Europe Ltd bought a new position in Virtus Investment Partners during the 2nd quarter valued at about $6,776,000. AQR Capital Management LLC raised its position in Virtus Investment Partners by 78.1% in the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the closed-end fund’s stock worth $11,508,000 after purchasing an additional 22,344 shares during the period. Basswood Capital Management L.L.C. lifted its stake in Virtus Investment Partners by 120.8% in the fourth quarter. Basswood Capital Management L.L.C. now owns 31,620 shares of the closed-end fund’s stock worth $7,644,000 after purchasing an additional 17,300 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new position in shares of Virtus Investment Partners during the first quarter valued at approximately $4,145,000. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Performance

Shares of Virtus Investment Partners stock opened at $207.83 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of 12.52 and a beta of 1.46. The company has a 50-day simple moving average of $209.64 and a two-hundred day simple moving average of $222.96. Virtus Investment Partners, Inc. has a one year low of $168.78 and a one year high of $263.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 15.18 and a current ratio of 15.18.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, July 26th. The closed-end fund reported $6.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $204.71 million. Research analysts expect that Virtus Investment Partners, Inc. will post 25.8 EPS for the current fiscal year.

Virtus Investment Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be issued a $2.25 dividend. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $1.90. This represents a $9.00 annualized dividend and a yield of 4.33%. The ex-dividend date is Thursday, October 31st. Virtus Investment Partners’s payout ratio is currently 45.78%.

Analysts Set New Price Targets

VRTS has been the topic of several recent analyst reports. TD Cowen reduced 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. Barclays started coverage on Virtus Investment Partners in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $206.00 price objective on the stock. Piper Sandler cut their target price on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Morgan Stanley reduced their price objective on shares of Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating for the company in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $231.25.

Virtus Investment Partners 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.