Mangrove Partners grew its stake in Virtus Investment Partners Inc (NASDAQ:VRTS) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,344 shares of the closed-end fund’s stock after buying an additional 4,412 shares during the period. Virtus Investment Partners accounts for 1.0% of Mangrove Partners’ holdings, making the stock its 20th biggest position. Mangrove Partners owned 0.69% of Virtus Investment Partners worth $5,726,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its position in Virtus Investment Partners by 8.3% during the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after buying an additional 63,155 shares during the period. Vanguard Group Inc. grew its position in Virtus Investment Partners by 8.6% during the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock valued at $78,051,000 after buying an additional 55,871 shares during the period. Dimensional Fund Advisors LP grew its position in Virtus Investment Partners by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 475,167 shares of the closed-end fund’s stock valued at $55,143,000 after buying an additional 23,679 shares during the period. Huber Capital Management LLC grew its position in Virtus Investment Partners by 10.3% during the second quarter. Huber Capital Management LLC now owns 437,985 shares of the closed-end fund’s stock valued at $48,594,000 after buying an additional 40,924 shares during the period. Finally, Royal Bank of Canada grew its position in Virtus Investment Partners by 9.5% during the second quarter. Royal Bank of Canada now owns 245,109 shares of the closed-end fund’s stock valued at $27,195,000 after buying an additional 21,362 shares during the period. 95.78% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners Inc (VRTS) traded down $0.20 during trading hours on Tuesday, hitting $114.85. 150,471 shares of the stock traded hands, compared to its average volume of 45,427. The stock has a market capitalization of $822.10, a P/E ratio of 22.43, a P/E/G ratio of 0.61 and a beta of 1.89. Virtus Investment Partners Inc has a 12-month low of $97.60 and a 12-month high of $126.60.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). The business had revenue of $123.70 million during the quarter, compared to analysts’ expectations of $116.85 million. Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. The business’s quarterly revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share. analysts forecast that Virtus Investment Partners Inc will post 7.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, January 30th. Virtus Investment Partners’s dividend payout ratio is currently 35.16%.
Several research firms recently commented on VRTS. Morgan Stanley set a $121.00 price target on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Jefferies Group reaffirmed a “hold” rating and set a $127.00 price objective (up from $117.00) on shares of Virtus Investment Partners in a report on Tuesday, October 10th. Barclays increased their price objective on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 12th. Finally, Bank of America raised shares of Virtus Investment Partners from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $112.00 to $130.00 in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $130.50.
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Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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