New York State Common Retirement Fund Sells 170 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

New York State Common Retirement Fund lessened its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,458 shares of the closed-end fund’s stock after selling 170 shares during the period. New York State Common Retirement Fund’s holdings in Virtus Investment Partners were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRTS. Norges Bank bought a new stake in Virtus Investment Partners during the 4th quarter worth approximately $9,503,000. American Century Companies Inc. increased its holdings in Virtus Investment Partners by 33.6% during the 4th quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund’s stock worth $18,030,000 after acquiring an additional 20,544 shares during the period. Zacks Investment Management bought a new stake in Virtus Investment Partners during the 4th quarter worth approximately $3,124,000. JPMorgan Chase & Co. increased its holdings in Virtus Investment Partners by 8.7% during the 4th quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund’s stock worth $34,858,000 after acquiring an additional 12,642 shares during the period. Finally, Northern Trust Corp increased its holdings in Virtus Investment Partners by 10.2% during the 4th quarter. Northern Trust Corp now owns 106,104 shares of the closed-end fund’s stock worth $23,404,000 after acquiring an additional 9,793 shares during the period. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

VRTS stock opened at $198.00 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners, Inc. has a 52 week low of $142.18 and a 52 week high of $252.82. The firm’s fifty day moving average is $185.28 and its 200 day moving average is $180.43. The firm has a market cap of $1.37 billion, a P/E ratio of 11.72 and a beta of 1.44.

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

Virtus Investment Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Thursday, July 31st. Virtus Investment Partners’s dividend payout ratio is currently 53.41%.

Analyst Ratings Changes

A number of analysts 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 report on Wednesday, July 2nd. Piper Sandler increased their price target on shares of Virtus Investment Partners from $211.00 to $234.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Barclays increased their price target on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the stock an “underweight” rating in a report on Wednesday, July 16th. TD Cowen decreased their price target on shares of Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Finally, Wall Street Zen raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday, May 19th. Two research 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, the company has an average rating of “Hold” and a consensus target price of $188.25.

About Virtus Investment Partners

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.