Virtus Investment Partners (NASDAQ:VRTS) Reaches New 52-Week High at $333.15

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) reached a new 52-week high on Monday . The stock traded as high as $333.15 and last traded at $331.56, with a volume of 203 shares. The stock had previously closed at $323.69.

Several research analysts have weighed in on VRTS shares. Morgan Stanley upgraded Virtus Investment Partners from an “equal weight” rating to an “overweight” rating and set a $400.00 price target for the company in a research note on Thursday, August 5th. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $288.00 price target for the company in a research note on Wednesday, July 21st.

The company has a 50-day simple moving average of $301.34 and a 200 day simple moving average of $279.04. The company has a market cap of $2.53 billion, a P/E ratio of 15.05 and a beta of 1.56. The company has a current ratio of 19.39, a quick ratio of 19.39 and a debt-to-equity ratio of 0.24.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Wednesday, July 28th. The closed-end fund reported $9.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.10 by $0.97. Virtus Investment Partners had a return on equity of 27.86% and a net margin of 21.91%. The company had revenue of $210.33 million for the quarter, compared to the consensus estimate of $203.34 million. On average, equities analysts forecast that Virtus Investment Partners, Inc. will post 35.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 29th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, October 28th. Virtus Investment Partners’s payout ratio is 20.25%.

In related news, EVP William Patrick Bradley III sold 175 shares of the firm’s stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $315.00, for a total transaction of $55,125.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen T. Zarrilli sold 1,808 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $280.55, for a total value of $507,234.40. Following the sale, the director now directly owns 4,512 shares in the company, valued at approximately $1,265,841.60. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Virtus Investment Partners by 0.8% in the first quarter. Principal Financial Group Inc. now owns 58,282 shares of the closed-end fund’s stock valued at $13,725,000 after buying an additional 468 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Virtus Investment Partners by 24.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 2,044 shares of the closed-end fund’s stock worth $481,000 after purchasing an additional 400 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Virtus Investment Partners by 132.8% in the first quarter. Goldman Sachs Group Inc. now owns 66,472 shares of the closed-end fund’s stock worth $15,654,000 after purchasing an additional 37,917 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Virtus Investment Partners in the first quarter worth about $334,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Virtus Investment Partners during the first quarter worth about $81,000. Institutional investors own 82.13% of the company’s stock.

Virtus Investment Partners Company Profile (NASDAQ:VRTS)

Virtus Investment Partners, Inc is an asset management company, which engages in the provision of investment management and related services to individuals and institutions. It offers financial solutions and products such as mutual funds, managed accounts, institutional, closed-end funds, Virtus variable insurance trust funds, and other portfolio.

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