Virtus Investment Partners (NASDAQ:VRTS) Reaches New 1-Year High After Analyst Upgrade

Virtus Investment Partners, Inc. (NASDAQ:VRTS) shares hit a new 52-week high during trading on Thursday after Piper Sandler raised their price target on the stock from $264.00 to $275.00. Piper Sandler currently has an overweight rating on the stock. Virtus Investment Partners traded as high as $263.39 and last traded at $256.48, with a volume of 17453 shares traded. The stock had previously closed at $247.61.

A number of other research analysts also recently issued reports on VRTS. StockNews.com upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. TD Cowen started coverage on Virtus Investment Partners in a report on Thursday, January 4th. They set an “outperform” rating and a $289.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Virtus Investment Partners from $170.00 to $199.00 and gave the company an “underweight” rating in a report on Friday, January 19th.

Hedge Funds Weigh In On Virtus Investment Partners

A number of hedge funds have recently bought and sold shares of VRTS. Signaturefd LLC raised its stake in shares of Virtus Investment Partners by 29.2% during the 4th quarter. Signaturefd LLC now owns 221 shares of the closed-end fund’s stock worth $53,000 after buying an additional 50 shares during the period. Sei Investments Co. raised its position in Virtus Investment Partners by 2.6% during the fourth quarter. Sei Investments Co. now owns 2,252 shares of the closed-end fund’s stock worth $544,000 after acquiring an additional 58 shares during the period. MetLife Investment Management LLC lifted its holdings in Virtus Investment Partners by 1.7% during the second quarter. MetLife Investment Management LLC now owns 3,627 shares of the closed-end fund’s stock valued at $716,000 after purchasing an additional 61 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Virtus Investment Partners by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,650 shares of the closed-end fund’s stock worth $333,000 after purchasing an additional 65 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Virtus Investment Partners by 82.1% in the 1st quarter. Lazard Asset Management LLC now owns 153 shares of the closed-end fund’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Stock Performance

The company has a 50 day simple moving average of $237.35 and a 200 day simple moving average of $216.53. The company has a market capitalization of $1.77 billion, a PE ratio of 10.90 and a beta of 1.51.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $6.11 EPS for the quarter, topping analysts’ consensus estimates of $5.96 by $0.15. The firm had revenue of $214.59 million for the quarter, compared to the consensus estimate of $196.20 million. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. During the same quarter last year, the business posted $5.17 earnings per share. As a group, equities research analysts anticipate that Virtus Investment Partners, Inc. will post 26.41 EPS for the current year.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $1.90 dividend. The ex-dividend date is Monday, April 29th. This represents a $7.60 annualized dividend and a yield of 3.08%. Virtus Investment Partners’s dividend payout ratio is presently 42.91%.

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.