WCM Investment Management LLC lessened its position in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) by 2.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 121,630 shares of the closed-end fund’s stock after selling 3,568 shares during the period. WCM Investment Management LLC’s holdings in Virtus Investment Partners were worth $13,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in VRTS. Texas Permanent School Fund grew its holdings in Virtus Investment Partners by 1.8% in the first quarter. Texas Permanent School Fund now owns 4,760 shares of the closed-end fund’s stock worth $464,000 after purchasing an additional 83 shares during the period. Aperio Group LLC grew its holdings in Virtus Investment Partners by 1.9% in the second quarter. Aperio Group LLC now owns 8,396 shares of the closed-end fund’s stock worth $902,000 after purchasing an additional 155 shares during the period. PNC Financial Services Group Inc. grew its holdings in Virtus Investment Partners by 153.7% in the first quarter. PNC Financial Services Group Inc. now owns 340 shares of the closed-end fund’s stock worth $33,000 after purchasing an additional 206 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Virtus Investment Partners by 212.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,513 shares of the closed-end fund’s stock worth $148,000 after purchasing an additional 1,028 shares during the period. Finally, Virginia Retirement Systems ET AL grew its holdings in Virtus Investment Partners by 16.2% in the first quarter. Virginia Retirement Systems ET AL now owns 13,600 shares of the closed-end fund’s stock worth $1,327,000 after purchasing an additional 1,900 shares during the period. 94.99% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on VRTS. TheStreet cut shares of Virtus Investment Partners from a “b-” rating to a “c+” rating in a report on Thursday, May 16th. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a report on Saturday, July 13th. BidaskClub upgraded shares of Virtus Investment Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reduced their price target on shares of Virtus Investment Partners from $118.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, ValuEngine cut shares of Virtus Investment Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $108.33.

Shares of NASDAQ VRTS traded up $0.36 during mid-day trading on Thursday, reaching $108.02. 5,821 shares of the company’s stock traded hands, compared to its average volume of 81,973. The stock has a market cap of $754.38 million, a P/E ratio of 8.83, a PEG ratio of 1.47 and a beta of 1.64. The business has a 50-day simple moving average of $104.46 and a 200 day simple moving average of $106.26. Virtus Investment Partners Inc has a 1-year low of $70.00 and a 1-year high of $131.70. The company has a debt-to-equity ratio of 0.55, a current ratio of 27.91 and a quick ratio of 27.91.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, July 26th. The closed-end fund reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.22. The firm had revenue of $140.49 million during the quarter, compared to analysts’ expectations of $144.92 million. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.29%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $2.73 earnings per share. Equities research analysts anticipate that Virtus Investment Partners Inc will post 13.84 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.67 per share. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $0.55. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 17.94%.

Virtus Investment Partners 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.

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

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