Algert Global LLC Boosts Stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Algert Global LLC lifted its stake in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 99.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,659 shares of the closed-end fund’s stock after purchasing an additional 8,288 shares during the period. Algert Global LLC owned about 0.23% of Virtus Investment Partners worth $3,762,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Cetera Advisors LLC bought a new position in shares of Virtus Investment Partners during the first quarter worth about $657,000. Russell Investments Group Ltd. raised its stake in Virtus Investment Partners by 80.6% during the first quarter. Russell Investments Group Ltd. now owns 13,918 shares of the closed-end fund’s stock worth $3,451,000 after acquiring an additional 6,213 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Virtus Investment Partners during the first quarter worth about $517,000. Norges Bank acquired a new stake in Virtus Investment Partners during the fourth quarter worth about $14,649,000. Finally, Quadrature Capital Ltd raised its stake in Virtus Investment Partners by 80.2% during the first quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock worth $5,825,000 after acquiring an additional 10,461 shares during the period. Institutional investors own 80.52% of the company’s stock.

Virtus Investment Partners Price Performance

Shares of NASDAQ:VRTS opened at $209.45 on Tuesday. The firm’s 50 day moving average is $209.64 and its two-hundred day moving average is $222.65. Virtus Investment Partners, Inc. has a 52 week low of $168.78 and a 52 week high of $263.39. The firm has a market capitalization of $1.48 billion, a P/E ratio of 12.62 and a beta of 1.46. The company has a current ratio of 15.18, a quick ratio of 15.18 and a debt-to-equity ratio of 0.28.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 26th. The closed-end fund reported $6.53 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.08). The firm had revenue of $203.02 million during the quarter, compared to analyst estimates of $204.71 million. Virtus Investment Partners had a net margin of 12.41% and a return on equity of 20.35%. Analysts anticipate that Virtus Investment Partners, Inc. will post 25.8 earnings per share for the current year.

Virtus Investment Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. This represents a $9.00 annualized dividend and a dividend yield of 4.30%. Virtus Investment Partners’s dividend payout ratio (DPR) is 45.78%.

Wall Street Analyst Weigh In

VRTS has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. TD Cowen dropped their price objective on shares of Virtus Investment Partners from $250.00 to $247.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Barclays initiated coverage on shares of Virtus Investment Partners in a research note on Tuesday, August 27th. They set an “underweight” rating and a $206.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $213.00 to $208.00 and set an “underweight” rating on the stock in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Virtus Investment Partners presently has a consensus rating of “Hold” and an average price target of $231.25.

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.