Point72 Asset Management L.P. Purchases 400 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Point72 Asset Management L.P. raised its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 17.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,700 shares of the closed-end fund’s stock after purchasing an additional 400 shares during the period. Point72 Asset Management L.P.’s holdings in Virtus Investment Partners were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Virtus Investment Partners by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 276,880 shares of the closed-end fund’s stock valued at $61,074,000 after purchasing an additional 21,344 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Virtus Investment Partners by 8.7% in the fourth quarter. JPMorgan Chase & Co. now owns 158,028 shares of the closed-end fund’s stock worth $34,858,000 after acquiring an additional 12,642 shares during the period. Northern Trust Corp boosted its holdings in shares of Virtus Investment Partners by 10.2% in the fourth quarter. Northern Trust Corp now owns 106,104 shares of the closed-end fund’s stock worth $23,404,000 after acquiring an additional 9,793 shares during the period. American Century Companies Inc. boosted its holdings in shares of Virtus Investment Partners by 33.6% in the fourth quarter. American Century Companies Inc. now owns 81,738 shares of the closed-end fund’s stock worth $18,030,000 after acquiring an additional 20,544 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Virtus Investment Partners by 4.7% in the fourth quarter. Fisher Asset Management LLC now owns 71,600 shares of the closed-end fund’s stock worth $15,794,000 after acquiring an additional 3,224 shares during the period. 80.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VRTS. Wall Street Zen raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler cut their price target on Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Morgan Stanley raised their price target on Virtus Investment Partners from $149.00 to $152.00 and gave the stock an “underweight” rating in a report on Tuesday, May 6th. Barclays set a $150.00 price target on Virtus Investment Partners and gave the stock an “underweight” rating in a report on Monday, April 28th. Finally, TD Cowen cut their price target on Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.75.

Virtus Investment Partners Price Performance

NASDAQ:VRTS opened at $169.69 on Friday. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.04 and a beta of 1.47. Virtus Investment Partners, Inc. has a 52-week low of $142.18 and a 52-week high of $252.82. The stock has a fifty day moving average of $163.22 and a 200 day moving average of $195.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.05. The company had revenue of $217.93 million during the quarter, compared to analyst estimates of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same quarter last year, the company earned $5.41 earnings per share. On average, research analysts expect that Virtus Investment Partners, Inc. will post 27.7 EPS for the current fiscal year.

Virtus Investment Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Thursday, July 31st. Virtus Investment Partners’s dividend payout ratio is 53.41%.

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.