Municipal Employees Retirement System of Michigan Increases Stake in Virtus Investment Partners, Inc. (VRTS)

Municipal Employees Retirement System of Michigan lifted its holdings in Virtus Investment Partners, Inc. (NASDAQ:VRTS) by 73.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,720 shares of the closed-end fund’s stock after purchasing an additional 1,150 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Virtus Investment Partners were worth $316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its position in shares of Virtus Investment Partners by 45.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,607 shares of the closed-end fund’s stock worth $419,000 after purchasing an additional 1,132 shares during the period. Principal Financial Group Inc. lifted its position in Virtus Investment Partners by 7.8% during the third quarter. Principal Financial Group Inc. now owns 54,432 shares of the closed-end fund’s stock valued at $6,317,000 after acquiring an additional 3,932 shares during the last quarter. Prudential Financial Inc. lifted its position in Virtus Investment Partners by 6.5% during the third quarter. Prudential Financial Inc. now owns 12,008 shares of the closed-end fund’s stock valued at $1,394,000 after acquiring an additional 730 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Virtus Investment Partners during the third quarter valued at approximately $204,000. Finally, Peregrine Capital Management LLC lifted its position in Virtus Investment Partners by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 181,960 shares of the closed-end fund’s stock valued at $21,116,000 after acquiring an additional 6,184 shares during the last quarter. 95.78% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on VRTS. Morgan Stanley set a $121.00 target price on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Barclays upped their price target on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 10th. BidaskClub lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Zacks Investment Research lowered shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Saturday, November 18th. Finally, Jefferies Group restated a “hold” rating and set a $127.00 price target (up previously from $117.00) on shares of Virtus Investment Partners in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $130.50.

Virtus Investment Partners, Inc. (NASDAQ:VRTS) opened at $117.40 on Monday. Virtus Investment Partners, Inc. has a 52 week low of $97.60 and a 52 week high of $128.10. The stock has a market cap of $840.35, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 0.62 and a beta of 1.89.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.08). The company had revenue of $123.70 million for the quarter, compared to analyst estimates of $116.85 million. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The company’s revenue for the quarter was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. research analysts forecast that Virtus Investment Partners, Inc. will post 7.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.45 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. Virtus Investment Partners’s payout ratio is currently 33.58%.

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Virtus Investment Partners Company Profile

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

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