Virtus Investment Partners, Inc. (NASDAQ:VRTS) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 7.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,852 shares of the closed-end fund’s stock after acquiring an additional 124 shares during the quarter. Hsbc Holdings PLC’s holdings in Virtus Investment Partners were worth $412,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in Virtus Investment Partners by 6,550.0% during the second quarter. Blue Trust Inc. now owns 133 shares of the closed-end fund’s stock worth $33,000 after buying an additional 131 shares during the period. Bessemer Group Inc. purchased a new position in Virtus Investment Partners during the first quarter worth about $57,000. EntryPoint Capital LLC boosted its stake in Virtus Investment Partners by 625.6% during the first quarter. EntryPoint Capital LLC now owns 312 shares of the closed-end fund’s stock worth $77,000 after buying an additional 269 shares during the period. CWM LLC boosted its stake in Virtus Investment Partners by 334.1% during the second quarter. CWM LLC now owns 382 shares of the closed-end fund’s stock worth $86,000 after buying an additional 294 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in Virtus Investment Partners during the second quarter worth about $164,000. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Virtus Investment Partners Stock Down 2.1 %

VRTS stock opened at $205.13 on Wednesday. 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, Inc. has a twelve month low of $168.78 and a twelve month high of $263.39. The company’s 50 day moving average is $208.99 and its two-hundred day moving average is $222.48. The stock has a market cap of $1.45 billion, a P/E ratio of 12.36 and a beta of 1.46.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 26th. The closed-end fund reported $6.53 earnings per share for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.08). Virtus Investment Partners had a return on equity of 20.35% and a net margin of 12.41%. The company had revenue of $203.02 million for the quarter, compared to analyst estimates of $204.71 million. Research analysts expect that Virtus Investment Partners, Inc. will post 25.8 earnings per share for the current fiscal year.

Virtus Investment Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, October 31st. This represents a $9.00 dividend on an annualized basis and a yield of 4.39%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.78%.

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.