Virtus Investment Partners (NASDAQ:VRTS) Reaches New 12-Month High at $333.15

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

VRTS has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $288.00 price target on the stock in a research report on Wednesday, July 21st. Morgan Stanley upgraded shares of Virtus Investment Partners from an “equal weight” rating to an “overweight” rating and set a $400.00 target price on the stock in a research report on Thursday, August 5th.

The company has a debt-to-equity ratio of 0.24, a current ratio of 19.39 and a quick ratio of 19.39. The company’s fifty day simple moving average is $301.34 and its two-hundred day simple moving average is $279.04. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 15.05 and a beta of 1.56.

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

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

In other news, EVP William Patrick Bradley III sold 175 shares of the company’s stock in a transaction on Friday, August 13th. The shares were sold at an average price of $315.00, for a total value of $55,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen T. Zarrilli sold 1,808 shares of the company’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $280.55, for a total transaction of $507,234.40. Following the completion of the sale, the director now owns 4,512 shares of the company’s stock, valued at approximately $1,265,841.60. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in Virtus Investment Partners by 0.8% during the first quarter. Principal Financial Group Inc. now owns 58,282 shares of the closed-end fund’s stock worth $13,725,000 after purchasing an additional 468 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings 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 buying an additional 400 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 buying an additional 37,917 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Virtus Investment Partners in the first quarter worth about $334,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Virtus Investment Partners in the first quarter worth about $81,000. Hedge funds and other institutional investors own 82.13% of the company’s stock.

About Virtus Investment Partners (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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