Millennium Management LLC Increases Investment in Virtus Investment Partners, Inc.

Millennium Management LLC has significantly increased its investment in Virtus Investment Partners, Inc. (NASDAQ:VRTS) during the second quarter, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). The firm's stake rose by 14.6%, acquiring an additional 3,589 shares, which brought its total holdings to 28,113 shares. This investment now represents approximately 0.39% of Virtus Investment Partners, valued at around $6,349,000.

In addition to Millennium Management, several other investors have also made moves in regard to Virtus Investment Partners. Lombard Odier Asset Management Europe Ltd took a new position in the second quarter, investing $6,776,000. AQR Capital Management LLC saw a substantial increase in its stake of 78.1%, acquiring 22,344 additional shares and holding a total of 50,952 shares valued at $11,508,000. Moreover, Meritage Portfolio Management, SG Americas Securities LLC, and Quadrature Capital Ltd also expanded their investments in Virtus during the first and second quarters.

Investor Engagement

A considerable portion of Virtus Investment Partners is owned by hedge funds and institutional investors, who collectively hold about 80.52% of the company's stock. Such engagement from large investors highlights the growing interest in Virtus Investment Partners and its performance within the financial sector.

Analyst Ratings Changes

Recent analyst ratings reflect varying viewpoints on Virtus Investment Partners. TD Cowen recently adjusted its price target from $250.00 to $247.00 while maintaining a “hold” rating. Piper Sandler similarly lowered its price target from $267.00 to $264.00, also categorizing it as “overweight.” Meanwhile, Barclays assigned an “underweight” rating with a price objective of $206.00, and Morgan Stanley adjusted its target from $213.00 to $208.00. Collectively, the stock has an average rating of “Hold” and a consensus target price of $231.25.

Virtus Investment Partners Price Performance

As of the latest trading sessions, shares of Virtus Investment Partners (NASDAQ:VRTS) opened at $206.12. With a market capitalization of $1.46 billion, the company has a price-to-earnings ratio of 12.42 and a beta value of 1.46. The stock has fluctuated within a 52-week range, with a low of $168.78 and a high of $263.39. The current 50-day and 200-day moving averages stand at $204.72 and $220.91, respectively. The company also shows strong financial metrics, including a current ratio and quick ratio both at 15.18, and a low debt-to-equity ratio of 0.28.

Recent Earnings Report

On July 26th, Virtus Investment Partners reported its quarterly earnings, revealing earnings per share (EPS) of $6.53. This figure fell short of analysts’ expectations which were set at $6.61. The company’s revenue for the quarter was approximately $203.02 million, slightly below the predicted $204.71 million. Its net margin stood at 12.41%, and it achieved a return on equity of 20.35%. Analysts predict that Virtus Investment Partners will report an EPS of 25.9 for the current fiscal year.

Dividend Announcement

Virtus Investment Partners has announced a quarterly dividend, which is scheduled for disbursement on November 13th. Shareholders who are on record by October 31st will receive a dividend of $2.25 per share, marking an annualized yield of 4.37%. This is an increase from the previous quarterly dividend of $1.90, demonstrating the company's commitment to returning value to its shareholders. The dividend payout ratio is currently 45.78%.

About Virtus Investment Partners

Virtus Investment Partners, Inc. is a publicly traded investment management firm, providing a range of services to individual and institutional clients. The firm specializes in managing portfolio investments, including equity and fixed income options, and offers a variety of mutual funds tailored to client needs.

Investment, Stake, Growth