Panagora Asset Management Inc. Sells 5,432 Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS)

by · The Cerbat Gem

Panagora Asset Management Inc. cut its position in Virtus Investment Partners, Inc. (NASDAQ:VRTS – Free Report) by 18.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,589 shares of the closed-end fund’s stock after selling 5,432 shares during the quarter. Panagora Asset Management Inc. owned about 0.34% of Virtus Investment Partners worth $4,856,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Virtus Investment Partners by 2.3% in the 1st quarter. BlackRock Inc. now owns 1,188,513 shares of the closed-end fund’s stock valued at $285,232,000 after acquiring an additional 27,115 shares in the last quarter. Vanguard Group Inc. raised its holdings in Virtus Investment Partners by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 896,632 shares of the closed-end fund’s stock valued at $215,182,000 after acquiring an additional 48,669 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Virtus Investment Partners by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 307,258 shares of the closed-end fund’s stock valued at $60,676,000 after acquiring an additional 20,491 shares in the last quarter. State Street Corp raised its holdings in Virtus Investment Partners by 2.7% in the 1st quarter. State Street Corp now owns 284,333 shares of the closed-end fund’s stock valued at $54,134,000 after acquiring an additional 7,502 shares in the last quarter. Finally, FMR LLC raised its holdings in Virtus Investment Partners by 4.9% in the 1st quarter. FMR LLC now owns 183,117 shares of the closed-end fund’s stock valued at $34,864,000 after acquiring an additional 8,542 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors.

Virtus Investment Partners Stock Up 0.3 %

Shares of Virtus Investment Partners stock opened at $195.62 on Friday. The stock’s 50-day moving average is $190.80 and its 200 day moving average is $197.89. Virtus Investment Partners, Inc. has a one year low of $165.00 and a one year high of $248.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 13.10 and a quick ratio of 13.10. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 10.71 and a beta of 1.57.

Virtus Investment Partners (NASDAQ:VRTS – Get Free Report) last posted its quarterly earnings results on Friday, October 27th. The closed-end fund reported $6.21 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.04. The business had revenue of $197.45 million for the quarter, compared to the consensus estimate of $200.68 million. Virtus Investment Partners had a return on equity of 18.32% and a net margin of 16.31%. Equities research analysts anticipate that Virtus Investment Partners, Inc. will post 21.62 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley boosted their price objective on Virtus Investment Partners from $163.00 to $170.00 and gave the stock an “underweight” rating in a research report on Monday, October 30th.

View Our Latest Report on VRTS

Virtus Investment Partners Company Profile

(Free Report)

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.

Read More