Arizona State Retirement System Trims Holdings in Virtus Investment Partners Inc (VRTS)

Arizona State Retirement System reduced its stake in Virtus Investment Partners Inc (NASDAQ:VRTS) by 1.7% during the first quarter, Holdings Channel reports. The fund owned 10,815 shares of the closed-end fund’s stock after selling 191 shares during the quarter. Arizona State Retirement System’s holdings in Virtus Investment Partners were worth $1,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRTS. Bank of New York Mellon Corp increased its stake in shares of Virtus Investment Partners by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 94,513 shares of the closed-end fund’s stock worth $10,751,000 after purchasing an additional 3,335 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of Virtus Investment Partners by 55.8% during the third quarter. MetLife Investment Advisors LLC now owns 5,047 shares of the closed-end fund’s stock worth $574,000 after purchasing an additional 1,808 shares during the period. Teachers Advisors LLC increased its stake in shares of Virtus Investment Partners by 4.8% during the third quarter. Teachers Advisors LLC now owns 13,457 shares of the closed-end fund’s stock worth $1,531,000 after purchasing an additional 622 shares during the period. Legal & General Group Plc increased its stake in shares of Virtus Investment Partners by 5.9% during the third quarter. Legal & General Group Plc now owns 16,276 shares of the closed-end fund’s stock worth $1,854,000 after purchasing an additional 910 shares during the period. Finally, Morgan Stanley increased its stake in shares of Virtus Investment Partners by 30.8% during the third quarter. Morgan Stanley now owns 24,469 shares of the closed-end fund’s stock worth $2,783,000 after purchasing an additional 5,756 shares during the period. Institutional investors own 94.60% of the company’s stock.

Virtus Investment Partners stock opened at $117.78 on Thursday. Virtus Investment Partners Inc has a one year low of $70.00 and a one year high of $138.02. The firm has a market cap of $822.93 million, a price-to-earnings ratio of 9.61, a P/E/G ratio of 3.17 and a beta of 1.63.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, April 26th. The closed-end fund reported $2.73 EPS for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.42. Virtus Investment Partners had a return on equity of 20.19% and a net margin of 13.35%. The firm had revenue of $130.70 million for the quarter, compared to analyst estimates of $131.64 million. During the same quarter last year, the company earned $2.59 EPS. The company’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Virtus Investment Partners Inc will post 13.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $2.20 dividend on an annualized basis and a yield of 1.87%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 17.94%.

A number of equities analysts have recently weighed in on VRTS shares. TheStreet upgraded Virtus Investment Partners from a “c” rating to a “b-” rating in a research note on Friday, April 26th. BidaskClub upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Barclays increased their target price on Virtus Investment Partners from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 19th. Morgan Stanley set a $92.00 target price on Virtus Investment Partners and gave the stock a “hold” rating in a research note on Friday, February 8th. Finally, Bank of America set a $119.00 target price on Virtus Investment Partners and gave the stock a “hold” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $112.67.

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Virtus Investment Partners Company 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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