Virtus Investment Partners (NASDAQ:VRTS) PT Raised to $215.00 at Barclays

Virtus Investment Partners (NASDAQ:VRTS) had its target price lifted by Barclays from $180.00 to $215.00 in a report released on Monday, The Fly reports. They currently have an overweight rating on the closed-end fund’s stock.

Several other research analysts also recently commented on the stock. Bank of America lifted their target price on shares of Virtus Investment Partners from $140.00 to $154.00 and gave the stock a buy rating in a report on Friday, July 10th. Piper Sandler lifted their price objective on Virtus Investment Partners from $190.00 to $200.00 and gave the stock an overweight rating in a research note on Thursday, October 15th. BidaskClub raised Virtus Investment Partners from a buy rating to a strong-buy rating in a report on Thursday, October 22nd. ValuEngine upgraded shares of Virtus Investment Partners from a strong sell rating to a sell rating in a research report on Thursday, October 8th. Finally, Morgan Stanley lifted their target price on Virtus Investment Partners from $159.00 to $167.00 and gave the stock an equal weight rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $190.80.

Shares of NASDAQ VRTS opened at $158.74 on Monday. The business’s 50-day simple moving average is $148.91 and its 200-day simple moving average is $122.46. The company has a debt-to-equity ratio of 0.35, a quick ratio of 32.42 and a current ratio of 32.42. Virtus Investment Partners has a 52 week low of $55.37 and a 52 week high of $180.89. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 23.94 and a beta of 1.66.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, October 23rd. The closed-end fund reported $4.49 EPS for the quarter, beating the consensus estimate of $4.42 by $0.07. Virtus Investment Partners had a return on equity of 20.04% and a net margin of 9.48%. As a group, equities research analysts forecast that Virtus Investment Partners will post 15.88 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.07%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is 18.11%.

In other Virtus Investment Partners news, EVP Francis G. Waltman sold 20,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $143.08, for a total transaction of $2,861,600.00. 5.20% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Virtus Investment Partners by 6.7% in the second quarter. Vanguard Group Inc. now owns 801,434 shares of the closed-end fund’s stock worth $93,200,000 after purchasing an additional 50,204 shares during the last quarter. Morgan Stanley increased its stake in shares of Virtus Investment Partners by 66.7% in the first quarter. Morgan Stanley now owns 75,107 shares of the closed-end fund’s stock valued at $5,715,000 after buying an additional 30,039 shares during the period. Legal & General Group Plc increased its stake in shares of Virtus Investment Partners by 11.2% in the first quarter. Legal & General Group Plc now owns 20,999 shares of the closed-end fund’s stock valued at $1,598,000 after buying an additional 2,113 shares during the period. AQR Capital Management LLC raised its position in shares of Virtus Investment Partners by 109.3% during the first quarter. AQR Capital Management LLC now owns 39,919 shares of the closed-end fund’s stock worth $3,038,000 after acquiring an additional 20,848 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Virtus Investment Partners in the second quarter worth approximately $473,000. 83.23% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

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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