Cubist Systematic Strategies LLC Has $209,000 Position in Virtus Investment Partners Inc (VRTS)
Cubist Systematic Strategies LLC increased its stake in Virtus Investment Partners Inc (NASDAQ:VRTS) by 1,798.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,804 shares of the closed-end fund’s stock after purchasing an additional 1,709 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Virtus Investment Partners were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in Virtus Investment Partners by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock worth $488,000 after purchasing an additional 21 shares in the last quarter. Sterling Capital Management LLC increased its stake in Virtus Investment Partners by 0.8% in the 2nd quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock worth $856,000 after purchasing an additional 58 shares in the last quarter. Prudential Financial Inc. increased its stake in Virtus Investment Partners by 0.5% in the 2nd quarter. Prudential Financial Inc. now owns 11,278 shares of the closed-end fund’s stock worth $1,251,000 after purchasing an additional 60 shares in the last quarter. Loews Corp increased its stake in Virtus Investment Partners by 2.8% in the 2nd quarter. Loews Corp now owns 3,687 shares of the closed-end fund’s stock worth $409,000 after purchasing an additional 100 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in Virtus Investment Partners by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 14,023 shares of the closed-end fund’s stock valued at $1,556,000 after acquiring an additional 107 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on VRTS shares. Morgan Stanley set a $123.00 target price on Virtus Investment Partners and gave the company an “equal weight” rating in a research note on Thursday, October 5th. BidaskClub cut Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Barclays lifted their target price on Virtus Investment Partners from $116.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, October 30th. TheStreet raised Virtus Investment Partners from a “c+” rating to a “b” rating in a research note on Thursday, November 30th. Finally, Zacks Investment Research cut Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $130.43.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). The firm 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 firm’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 earnings per share. sell-side analysts predict that Virtus Investment Partners Inc will post 7.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.80 annualized dividend and a dividend yield of 1.41%. Virtus Investment Partners’s dividend payout ratio is 35.16%.
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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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