JPMorgan Chase & Co. trimmed its holdings in shares of Virtus Investment Partners Inc (NASDAQ:VRTS) by 19.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,408 shares of the closed-end fund’s stock after selling 23,117 shares during the quarter. JPMorgan Chase & Co.’s holdings in Virtus Investment Partners were worth $10,967,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Virtus Investment Partners in the third quarter valued at about $460,000. Ontario Teachers Pension Plan Board bought a new stake in Virtus Investment Partners in the third quarter valued at about $1,055,000. Wells Fargo & Company MN increased its holdings in Virtus Investment Partners by 12.7% in the third quarter. Wells Fargo & Company MN now owns 13,679 shares of the closed-end fund’s stock valued at $1,556,000 after buying an additional 1,543 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Virtus Investment Partners in the third quarter valued at about $2,258,000. Finally, WCM Investment Management CA increased its holdings in Virtus Investment Partners by 23.5% in the third quarter. WCM Investment Management CA now owns 45,059 shares of the closed-end fund’s stock valued at $5,125,000 after buying an additional 8,566 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of VRTS stock opened at $99.49 on Friday. Virtus Investment Partners Inc has a 52 week low of $70.00 and a 52 week high of $138.02. The company has a market capitalization of $697.29 million, a price-to-earnings ratio of 8.12, a P/E/G ratio of 0.54 and a beta of 1.47.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, February 1st. The closed-end fund reported $3.06 EPS for the quarter, meeting the Zacks’ consensus estimate of $3.06. Virtus Investment Partners had a return on equity of 19.85% and a net margin of 13.68%. The company had revenue of $138.10 million during the quarter, compared to the consensus estimate of $143.54 million. During the same period in the previous year, the firm posted $2.60 earnings per share. Virtus Investment Partners’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Virtus Investment Partners Inc will post 10.77 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Thursday, January 31st were paid a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $2.20 dividend on an annualized basis and a yield of 2.21%. Virtus Investment Partners’s payout ratio is currently 17.94%.

Several brokerages recently weighed in on VRTS. Zacks Investment Research lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. BidaskClub raised Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 13th. Morgan Stanley set a $92.00 price objective on Virtus Investment Partners and gave the company a “hold” rating in a report on Friday, February 8th. Credit Suisse Group set a $150.00 target price on Virtus Investment Partners and gave the company a “buy” rating in a research note on Monday, October 29th. Finally, Sandler O’Neill began coverage on Virtus Investment Partners in a research note on Thursday, December 20th. They issued a “buy” rating and a $94.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $106.67.

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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.

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Institutional Ownership by Quarter for Virtus Investment Partners (NASDAQ:VRTS)

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