Louisiana State Employees Retirement System Buys 100 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

Louisiana State Employees Retirement System lifted its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,400 shares of the closed-end fund’s stock after acquiring an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Virtus Investment Partners were worth $768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VRTS. Norges Bank bought a new stake in Virtus Investment Partners in the 4th quarter worth approximately $14,649,000. Basswood Capital Management L.L.C. grew its holdings in shares of Virtus Investment Partners by 120.8% in the fourth quarter. Basswood Capital Management L.L.C. now owns 31,620 shares of the closed-end fund’s stock worth $7,644,000 after acquiring an additional 17,300 shares during the period. Meritage Portfolio Management purchased a new stake in Virtus Investment Partners during the first quarter valued at $4,145,000. SG Americas Securities LLC bought a new position in Virtus Investment Partners in the second quarter valued at about $2,553,000. Finally, Quadrature Capital Ltd boosted its position in Virtus Investment Partners by 80.2% in the first quarter. Quadrature Capital Ltd now owns 23,506 shares of the closed-end fund’s stock worth $5,825,000 after purchasing an additional 10,461 shares during the last quarter. 80.52% of the stock is owned by hedge funds and other institutional investors.

Virtus Investment Partners Trading Up 0.8 %

Virtus Investment Partners stock opened at $206.00 on Friday. Virtus Investment Partners, Inc. has a 12-month low of $168.78 and a 12-month high of $263.39. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 12.41 and a beta of 1.46. The firm has a 50 day moving average of $219.76 and a 200 day moving average of $227.47. 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 data on Friday, July 26th. The closed-end fund reported $6.53 earnings per share (EPS) 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 firm had revenue of $203.02 million during the quarter, compared to analysts’ expectations of $204.71 million. As a group, research analysts predict that Virtus Investment Partners, Inc. will post 25.84 earnings per share for the current year.

Virtus Investment Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, October 31st. This represents a $9.00 annualized dividend and a dividend yield of 4.37%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $1.90. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 45.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays initiated coverage on shares of Virtus Investment Partners in a research note on Tuesday. They issued an “underweight” rating and a $206.00 price objective on the stock. Piper Sandler decreased their price target on shares of Virtus Investment Partners from $267.00 to $264.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen dropped their price target 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. Finally, Morgan Stanley reduced their price objective on 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 issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $231.25.

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.