Rhumbline Advisers grew its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 9.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,863 shares of the closed-end fund’s stock after buying an additional 1,358 shares during the period. Rhumbline Advisers owned 0.23% of Virtus Investment Partners worth $1,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of Virtus Investment Partners by 83.8% during the second quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock worth $144,000 after purchasing an additional 595 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of Virtus Investment Partners by 14.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock worth $156,000 after purchasing an additional 190 shares during the period. Mason Street Advisors LLC grew its stake in shares of Virtus Investment Partners by 23.9% during the first quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock worth $160,000 after purchasing an additional 292 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Virtus Investment Partners by 17.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock worth $172,000 after purchasing an additional 244 shares during the period. Finally, Koch Industries Inc. acquired a new stake in shares of Virtus Investment Partners during the first quarter worth $203,000. 95.86% of the stock is owned by institutional investors.

Shares of Virtus Investment Partners, Inc. (VRTS) opened at 111.80 on Monday. The firm has a market capitalization of $806.86 million, a PE ratio of 21.76 and a beta of 1.74. Virtus Investment Partners, Inc. has a 52 week low of $90.39 and a 52 week high of $128.10. The company’s 50 day moving average price is $109.68 and its 200-day moving average price is $108.08.

Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.05). The company had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 earnings per share. On average, equities research analysts expect that Virtus Investment Partners, Inc. will post $7.60 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.61%. Virtus Investment Partners’s payout ratio is currently 35.02%.

A number of equities research analysts recently commented on the company. Barclays PLC assumed coverage on Virtus Investment Partners in a research note on Friday, September 8th. They set an “equal weight” rating and a $113.00 price objective for the company. ValuEngine cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $117.00 price objective on shares of Virtus Investment Partners in a research note on Friday, August 18th. BidaskClub cut Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Credit Suisse Group lifted their price objective on Virtus Investment Partners from $141.00 to $147.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Virtus Investment Partners has an average rating of “Hold” and a consensus price target of $119.83.

ILLEGAL ACTIVITY NOTICE: “Rhumbline Advisers Grows Stake in Virtus Investment Partners, Inc. (VRTS)” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/18/rhumbline-advisers-grows-stake-in-virtus-investment-partners-inc-vrts.html.

Virtus Investment Partners 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.

Institutional Ownership by Quarter for Virtus Investment Partners (NASDAQ:VRTS)

Receive News & Stock Ratings for Virtus Investment Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners Inc. and related stocks with our FREE daily email newsletter.