Virtus Investmen Stock Price, News & Analysis

Virtus Investment Partners (NASDAQ: VRTS) has declared a quarterly cash dividend of $1.50 per common share for the fourth quarter of 2021. The dividend is set to be paid on February 11, 2022, to shareholders on record as of January 28, 2022. Future dividends will depend on the Board of Directors' approval.

As a multi-boutique asset management firm, Virtus Investment Partners focuses on long-term success for individual and institutional investors through a diverse range of affiliated investment managers.

Virtus AllianzGI Convertible & Income Fund (NCV) has declared a cash distribution of $0.3515625 per share for its Series A cumulative preferred shareholders. This payment will be made on December 31, 2021, to shareholders of record as of December 13, 2021. The Series A shares, trading under the symbol NCV PR A, were issued at $25.00 each and carry an annual dividend rate of $1.40625. The fund's distributions are subject to changes based on the fund's investment performance and tax regulations.

Virtus AllianzGI Convertible & Income Fund II (NCZ) has declared a cash distribution of $0.34375 per share for Series A cumulative preferred shareholders, payable on December 31, 2021. This distribution pertains to the accrual period from October 1, 2021, through December 31, 2021, with shareholders of record on December 13, 2021. The Series A shares, rated 'A' by Fitch Ratings, have an annual dividend rate of $1.375 and were issued at $25.00 per share. The shares will be callable post a five-year non-call period ending on September 11, 2023.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced monthly distributions of $0.08 per share for December 2021 through March 2022. The ex-dates for these distributions are set between December 10, 2021, and March 10, 2022, with payable dates following shortly after. The Fund aims to maintain a consistent level of distributions, which may include a return of capital if net income and capital gains are insufficient. For the fiscal year to date, the Fund has a current distribution rate of 10.25% and has distributed more than its income, indicating that a portion may be a return of capital.

Virtus Global Multi-Sector Income Fund (NYSE: VGI) has announced the removal of its managed distribution plan, effective December 2021. The fund will continue to pay $0.08 per share in monthly distributions. This decision follows the elimination of an option overlay strategy that was part of the fund's investment approach since 2015, potentially lowering fund expenses. Future distributions will depend on net investment income and capital gains, with a supplemental distribution announcement planned for January 3, 2022.

Virtus Investment Partners reported preliminary assets under management (AUM) of $187.4 billion as of October 31, 2021. This figure includes $5.1 billion from the recent acquisition of Westchester Capital Management. The company also managed $3.8 billion in additional fee-earning assets. Key figures by product type include $79.9 billion in open-end funds and $43.3 billion in retail separate accounts, reflecting a growth from $177.3 billion in AUM in September 2021.

Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, set for payment on November 19, 2021, following an ex-date of November 10, 2021. As part of its Managed Distribution Plan, distributions may include net investment income and realized capital gains, with potential returns of capital affecting shareholders. For October 2021, the fund's net investment income per share was $0.008, yielding 10.2% of the current distribution. The average annual total return on NAV for the past five years is 7.87%.

On November 5, 2021, the Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.08 per share. The ex-date is November 10, 2021, with a record date of November 12, 2021 and payable date of November 19, 2021. The Fund's Managed Distribution Plan indicates that distributions may include returns of capital if net investment income falls short. As of October 2021, approximately 52.5% of distribution sources came from net investment income, with the remainder expected to be a return of capital.

Virtus Investment Partners (NASDAQ: VRTS) reported significant financial growth for Q3 2021, with revenues of $252.1 million, a 63% increase compared to $154.8 million in Q3 2020. Operating income surged 128% to $93.3 million, and net income rose to $58.7 million, marking a 98% increase year-over-year. Adjusted earnings per share reached $9.71, up 116% from the previous year. However, total assets under management declined slightly to $177.3 billion, and net flows turned negative at $(0.6) billion. The company also announced a debt refinancing and completed the acquisition of Westchester Capital Management.