State of Alaska Department of Revenue Sells 121 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

State of Alaska Department of Revenue decreased its holdings in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,656 shares of the closed-end fund’s stock after selling 121 shares during the period. State of Alaska Department of Revenue owned 0.05% of Virtus Investment Partners worth $630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Virtus Investment Partners by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,849 shares of the closed-end fund’s stock valued at $849,000 after purchasing an additional 152 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Virtus Investment Partners by 8,517.5% during the 1st quarter. GAMMA Investing LLC now owns 6,894 shares of the closed-end fund’s stock valued at $1,188,000 after purchasing an additional 6,814 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Virtus Investment Partners by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock valued at $61,074,000 after purchasing an additional 21,344 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Virtus Investment Partners in the fourth quarter worth approximately $353,000. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Virtus Investment Partners by 43.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 7,802 shares of the closed-end fund’s stock worth $1,721,000 after acquiring an additional 2,357 shares in the last quarter. Institutional investors own 80.52% of the company’s stock.

Analyst Upgrades and Downgrades

VRTS has been the topic of several recent research reports. TD Cowen cut their price target on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Barclays set a $150.00 price target on Virtus Investment Partners and gave the stock an “underweight” rating in a report on Monday, April 28th. Wall Street Zen upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Morgan Stanley increased their price target on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. Finally, Piper Sandler cut their price target on Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Virtus Investment Partners has an average rating of “Hold” and a consensus target price of $167.75.

Virtus Investment Partners Stock Performance

Shares of Virtus Investment Partners stock opened at $183.36 on Friday. The company has a market cap of $1.27 billion, a PE ratio of 10.85 and a beta of 1.45. Virtus Investment Partners, Inc. has a 52 week low of $142.18 and a 52 week high of $252.82. The business has a 50 day moving average price of $168.96 and a 200-day moving average price of $183.21. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, topping the consensus estimate of $5.68 by $0.05. The firm had revenue of $217.93 million during the quarter, compared to the consensus estimate of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same period in the prior year, the business posted $5.41 earnings per share. Equities analysts anticipate that Virtus Investment Partners, Inc. will post 27.7 earnings per share for the current fiscal year.

Virtus Investment Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Thursday, July 31st. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 53.41%.

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.