Virtus Investment Partners, Inc. (VRTS) Stake Increased by JPMorgan Chase & Co.
JPMorgan Chase & Co. boosted its stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 50.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 185,925 shares of the closed-end fund’s stock after buying an additional 62,331 shares during the period. JPMorgan Chase & Co. owned about 2.66% of Virtus Investment Partners worth $19,690,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VRTS. Mason Street Advisors LLC raised its stake in shares of Virtus Investment Partners by 23.9% in the first quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock worth $160,000 after buying an additional 292 shares in the last quarter. Keybank National Association OH raised its stake in shares of Virtus Investment Partners by 8.0% in the first quarter. Keybank National Association OH now owns 11,775 shares of the closed-end fund’s stock worth $1,247,000 after buying an additional 875 shares in the last quarter. Airain ltd bought a new stake in shares of Virtus Investment Partners during the first quarter worth approximately $425,000. Trexquant Investment LP bought a new stake in shares of Virtus Investment Partners during the first quarter worth approximately $220,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Virtus Investment Partners during the first quarter worth approximately $265,000. 98.55% of the stock is owned by institutional investors and hedge funds.
Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) opened at 109.05 on Friday. Virtus Investment Partners, Inc. has a 52 week low of $69.59 and a 52 week high of $128.10. The stock has a 50 day moving average of $103.45 and a 200-day moving average of $110.43. The company has a market capitalization of $762.15 million, a price-to-earnings ratio of 17.10 and a beta of 1.78.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, April 28th. The closed-end fund reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by $0.46. Virtus Investment Partners had a return on equity of 10.71% and a net margin of 15.27%. The business had revenue of $79.78 million for the quarter, compared to analysts’ expectations of $80.67 million. During the same period in the prior year, the business posted $1.12 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that Virtus Investment Partners, Inc. will post $7.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, July 27th. Virtus Investment Partners’s dividend payout ratio is presently 27.91%.
A number of analysts have recently commented on VRTS shares. Zacks Investment Research lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley started coverage on shares of Virtus Investment Partners in a research note on Thursday, June 1st. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, Jefferies Group LLC set a $110.00 price target on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research note on Sunday, April 30th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $111.40.
About Virtus Investment Partners
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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