BNP Paribas Arbitrage SA lowered its stake in Virtus Investment Partners Inc. (NASDAQ:VRTS) by 46.5% during the third quarter, Holdings Channel reports. The fund owned 1,097 shares of the closed-end fund’s stock after selling 955 shares during the period. BNP Paribas Arbitrage SA’s holdings in Virtus Investment Partners were worth $107,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in VRTS. BlackRock Inc. increased its stake in shares of Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 1,291 shares during the last quarter. Loews Corp acquired a new stake in shares of Virtus Investment Partners during the second quarter valued at $205,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Virtus Investment Partners during the first quarter valued at $375,000. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Virtus Investment Partners during the second quarter valued at $345,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Virtus Investment Partners during the second quarter valued at $510,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.
Virtus Investment Partners Inc. (NASDAQ:VRTS) opened at 97.24 on Friday. Virtus Investment Partners Inc. has a 12-month low of $66.12 and a 12-month high of $141.97. The firm has a market cap of $750.50 million, a PE ratio of 31.67 and a beta of 1.79. The firm’s 50-day moving average is $94.72 and its 200 day moving average is $82.85.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.08. Virtus Investment Partners had a return on equity of 9.37% and a net margin of 7.80%. The company earned $80.10 million during the quarter, compared to analyst estimates of $78.86 million. During the same period in the prior year, the business posted $2.21 earnings per share. Virtus Investment Partners’s revenue was down 19.6% on a year-over-year basis. Equities research analysts predict that Virtus Investment Partners Inc. will post $5.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Monday, October 31st will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.80 annualized dividend and a dividend yield of 1.85%. Virtus Investment Partners’s dividend payout ratio is presently 57.88%.
Several brokerages recently weighed in on VRTS. Jefferies Group upped their target price on shares of Virtus Investment Partners from $74.00 to $87.00 and gave the stock a “hold” rating in a research note on Monday, August 8th. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Finally, Credit Suisse Group AG set a $104.00 price target on shares of Virtus Investment Partners and gave the stock a “buy” rating in a report on Monday, September 19th.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc 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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