The WCM Investment Management CA Buys New Position in Virtus Investment Partners, Inc. (VRTS)

The WCM Investment Management CA Buys New Position in Virtus Investment Partners, Inc. (VRTS)

WCM Investment Management CA purchased a new stake in Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the third quarter, Holdings Channel reports. The institutional investor purchased 4,804 shares of the closed-end fund’s stock, valued at approximately $470,000. WCM Investment Management CA owned approximately 0.06% of Virtus Investment Partners as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zuckerman Investment Group LLC increased its position in Virtus Investment Partners by 4.1% in the second quarter. Zuckerman Investment Group LLC now owns 182,173 shares of the closed-end fund’s stock valued at $12,967,000 after buying an additional 7,097 shares in the last quarter. FMR LLC increased its position in Virtus Investment Partners by 38.9% in the second quarter. FMR LLC now owns 285,895 shares of the closed-end fund’s stock valued at $20,350,000 after buying an additional 79,995 shares in the last quarter. Loews Corp bought a new position in Virtus Investment Partners during the second quarter valued at approximately $205,000. Alliancebernstein L.P. increased its position in Virtus Investment Partners by 2.7% in the second quarter. Alliancebernstein L.P. now owns 11,523 shares of the closed-end fund’s stock valued at $820,000 after buying an additional 300 shares in the last quarter. Finally, CNA Financial Corp increased its position in Virtus Investment Partners by 29.3% in the second quarter. CNA Financial Corp now owns 10,143 shares of the closed-end fund’s stock valued at $721,000 after buying an additional 2,300 shares in the last quarter. 96.65% of the stock is currently owned by institutional investors.

Virtus Investment Partners, Inc. (NASDAQ:VRTS) traded up 1.13% on Wednesday, reaching $120.45. 64,548 shares of the company traded hands. Virtus Investment Partners, Inc. has a 1-year low of $66.12 and a 1-year high of $128.10. The stock has a 50 day moving average of $120.08 and a 200-day moving average of $100.44. The stock has a market capitalization of $709.21 million, a price-to-earnings ratio of 23.52 and a beta of 1.83.

Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, October 28th. The closed-end fund reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.16. Virtus Investment Partners had a net margin of 12.99% and a return on equity of 9.15%. The company had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $80.77 million. During the same quarter in the previous year, the company posted $1.74 EPS. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. On average, equities analysts anticipate that Virtus Investment Partners, Inc. will post $5.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Tuesday, January 31st will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, January 27th. This represents a $1.80 annualized dividend and a yield of 1.49%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 34.82%.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Friday, January 6th. Jefferies Group reaffirmed a “hold” rating and issued a $124.00 price target on shares of Virtus Investment Partners in a research note on Wednesday, January 11th. TheStreet downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Monday, December 19th. Finally, Credit Suisse Group downgraded shares of Virtus Investment Partners from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $104.00 to $119.00 in a research note on Monday, October 31st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $103.75.

In other Virtus Investment Partners news, major shareholder Of Montreal /Can/ Bank sold 1,727,746 shares of Virtus Investment Partners stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $93.50, for a total transaction of $161,544,251.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.

About Virtus Investment Partners

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.

Want to see what other hedge funds are holding VRTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtus Investment Partners, Inc. (NASDAQ:VRTS).

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