Allspring Global Investments Holdings LLC Grows Holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Allspring Global Investments Holdings LLC raised its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 35.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,957 shares of the closed-end fund’s stock after purchasing an additional 781 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Virtus Investment Partners were worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trexquant Investment LP bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $209,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $249,000. Envestnet Asset Management Inc. bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $280,000. KLP Kapitalforvaltning AS bought a new stake in shares of Virtus Investment Partners in the 4th quarter worth about $353,000. Finally, Magnetar Financial LLC increased its position in shares of Virtus Investment Partners by 42.8% in the 4th quarter. Magnetar Financial LLC now owns 1,767 shares of the closed-end fund’s stock worth $390,000 after purchasing an additional 530 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Trading Up 2.6%

Shares of NASDAQ VRTS opened at $202.53 on Friday. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $176.70 and its 200 day simple moving average is $181.43. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 11.98 and a beta of 1.44. Virtus Investment Partners, Inc. has a 12-month low of $142.18 and a 12-month high of $252.82.

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

Virtus Investment Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Thursday, July 31st. Virtus Investment Partners’s payout ratio is 53.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley set a $171.00 target price on shares of Virtus Investment Partners and gave the stock an “underweight” rating in a research report on Wednesday, July 2nd. Piper Sandler cut their target price on shares of Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. TD Cowen decreased their target price on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Barclays set a $150.00 price target on Virtus Investment Partners and gave the stock an “underweight” rating in a research report on Monday, April 28th. Finally, Wall Street Zen raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.50.

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.