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Virtus Investment Partners, Inc. - VRTS STOCK NEWS

Welcome to our dedicated page for Virtus Investment Partners news (Ticker: VRTS), a resource for investors and traders seeking the latest updates and insights on Virtus Investment Partners stock.

Virtus Investment Partners, Inc. (Nasdaq: VRTS) is a premier investment management firm dedicated to providing high-quality investment products and services to both individuals and institutions. Known for its integrity, quality, and strength, the company operates on a multi-manager model that encompasses several affiliated managers, each with distinct investment styles and autonomous processes. This structure allows Virtus to offer a wide array of investment options, including open-end mutual funds, closed-end funds, exchange-traded funds (ETFs), and variable insurance funds.

The company's core business revolves around generating revenue through investment management fees, distribution and service fees, and administration and shareholder service fees. Headquartered in the United States, Virtus serves clients nationwide, building lasting partnerships and ensuring their success as investors. The firm places a strong emphasis on client responsibility and is committed to delivering exceptional value.

Recent Achievements and Current Projects:

  • Virtus has expanded its suite of investment products to include more ESG (Environmental, Social, and Governance) focused funds, reflecting a growing investor demand for responsible and sustainable investing options.
  • The firm has also undertaken significant digital transformation projects aimed at enhancing the client experience through cutting-edge technology and user-friendly platforms.

Financial Condition:

Virtus Investment Partners has shown robust financial performance, evidenced by consistent growth in assets under management (AUM) and a strong balance sheet. The company’s revenue streams are well-diversified, providing a stable financial foundation and resilience against market fluctuations.

Partnerships:

The company collaborates with a variety of financial institutions and advisory firms to broaden its reach and improve service offerings. These partnerships enable Virtus to deliver specialized investment solutions and maintain a competitive edge in the asset management industry.

Virtus Investment Partners continues to adapt to market trends and economic conditions, ensuring that they remain a trusted partner for investors seeking comprehensive investment strategies and superior portfolio management.

For important disclaimers and more information, please visit Virtus Social Media Guidelines.

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Virtus Investment Partners reported preliminary assets under management (AUM) totaling $116.6 billion as of October 31, 2020, including $1.4 billion in liquidity assets. Long-term AUM reached $115.2 billion, reflecting growth across various fund types. Notable figures include $43.6 billion in open-end funds and $25.2 billion in retail separate accounts. Compared to September 30, 2020, total AUM increased marginally from $116.5 billion.

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Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08, payable on November 19, 2020. The fund's Managed Distribution Plan aims to maintain consistent distribution levels, which may include returns from net investment income and realized capital gains. Shareholders are informed that distributions may include a return of capital if net income and gains are insufficient. For October 2020, 11.3% of the distribution came from net investment income, while 88.7% was a return of capital. The fund’s current fiscal year-to-date annualized distribution rate is 11.05%. VRTS is the ticker symbol for the parent company.

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Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10, payable on November 19, 2020. The distribution, under its Managed Distribution Plan, aims to maintain consistent levels, potentially funded by net investment income and realized capital gains. Notably, the Fund has indicated that it has distributed more than its income and capital gains, implying a portion may be a return of capital. The estimated breakdown shows net investment income accounts for 46.1% of the current distribution, while return of capital constitutes 53.9%.

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The Board of Directors of DTF Tax-Free Income announced the successful placement of $65 million in Remarketable Variable Rate MuniFund Term Preferred Shares (RVMTPs).

The proceeds will be used for the early redemption of $65 million in Variable Rate MuniFund Term Preferred Shares (VMTPs) scheduled for January 31, 2021. The redemption will occur on November 12, 2020, at 100% of their liquidation preference along with accrued dividends.

The RVMTPs will provide leverage for the fund's common shareholders, paying variable rate dividends set weekly.

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Virtus Investment Partners (NASDAQ: VRTS) reported Q3 2020 financial results with revenues of $154.8 million, a 6% increase year-over-year. Operating income rose 15% to $41.0 million, and net income attributable to common stockholders surged 35% to $29.6 million, translating to $3.71 per diluted share. Assets under management increased 12% to $115.0 billion, driven by market appreciation and net flows of $1.2 billion. The gross debt was reduced by 26% to $223.2 million, while a dividend of $0.82 per share was declared, marking a 22% increase from the previous quarter.

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Virtus Investment Partners (NASDAQ: VRTS) will release its third-quarter 2020 financial results on October 23, 2020, prior to market open. A conference call for investors will take place at 10:00 a.m. Eastern, featuring CEO George R. Aylward and CFO Michael A. Angerthal. The call can be accessed via a webcast or by phone. A replay will be available until October 30, 2020. The firm is known for its multi-manager asset management strategy and offers a broad range of investment products through various affiliated managers.

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Virtus Investment Partners reported preliminary assets under management (AUM) as of September 30, 2020, totaling $116.5 billion, including $1.5 billion in liquidity assets. Long-term AUM increased to $115.0 billion, driven by market appreciation and favorable net inflows in retail separate accounts, mutual funds, and ETFs, despite some outflows in other products. Notable figures include $43.4 billion in open-end funds and $5.6 billion in closed-end funds. The report reflects a robust investment performance during the quarter.

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On October 5, 2020, Virtus Global Multi-Sector Income Fund (NYSE: VGI) announced a monthly distribution of $0.10 per share. The ex-date is set for October 9, 2020, with a record date of October 13 and payable date of October 20. Under its Managed Distribution Plan, a portion of this distribution may come from return of capital, indicating that some of the money invested may be returned to shareholders. The fund estimates that 54.9% of the distribution will be a return of capital for September 2020.

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On October 5, 2020, Virtus Total Return Fund (NYSE: ZTR) announced a monthly distribution of $0.08 per share. The ex-dividend date is October 9, with the record date on October 13 and payment on October 20. Under its Managed Distribution Plan, the Fund may pay distributions from net investment income and realized capital gains; however, if these are insufficient, it may draw from its assets, which could result in a return of capital. In September 2020, 33.2% of the distribution came from net investment income, while 66.8% was a return of capital. The Fund has a fiscal YTD cumulative distribution rate of 11.37%.

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The Board of Directors of DNP Select Income Fund (NYSE: DNP) has approved a dividend payment of 6.5 cents per share. The dividends will be distributed four times: on November 10, 2020, December 10, 2020, and additional payments scheduled for October 30, 2020 and November 30, 2020. The Fund follows a Managed Distribution Plan to maintain this distribution rate. In 2020, 67% of the current distribution comes from a return of capital, while only 29% derives from net investment income, raising sustainability concerns.

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FAQ

What is the current stock price of Virtus Investment Partners (VRTS)?

The current stock price of Virtus Investment Partners (VRTS) is $245.55 as of December 6, 2024.

What is the market cap of Virtus Investment Partners (VRTS)?

The market cap of Virtus Investment Partners (VRTS) is approximately 1.7B.

What does Virtus Investment Partners, Inc. specialize in?

Virtus Investment Partners specializes in providing investment management products and services, including mutual funds, ETFs, and variable insurance funds.

How does Virtus Investment Partners generate revenue?

The company generates revenue through investment management fees, distribution and service fees, and administration and shareholder service fees.

What is the business model of Virtus Investment Partners?

Virtus operates a multi-manager asset management business, comprising several affiliated managers with distinct investment styles and autonomous processes.

Where is Virtus Investment Partners headquartered?

The company is headquartered in the United States and serves clients nationwide.

What recent achievements has Virtus Investment Partners accomplished?

Virtus has expanded its investment products to include more ESG-focused funds and has enhanced client experience through significant digital transformation projects.

How does Virtus Investment Partners ensure client success?

Virtus places a strong emphasis on client responsibility and is dedicated to delivering exceptional value and comprehensive investment strategies.

What is the financial condition of Virtus Investment Partners?

Virtus shows robust financial performance with consistent growth in assets under management (AUM) and a strong balance sheet.

Who are the partners of Virtus Investment Partners?

Virtus collaborates with various financial institutions and advisory firms to broaden its reach and improve service offerings.

What types of investment products does Virtus offer?

Virtus offers a wide range of investment products, including open-end mutual funds, closed-end funds, exchange-traded funds (ETFs), and variable insurance funds.

Where can I find more information about Virtus Investment Partners?

For more information, including important disclaimers, visit Virtus' social media guidelines page at https://www.virtus.com/social-media-guidelines.

Virtus Investment Partners, Inc.

Nasdaq:VRTS

VRTS Rankings

VRTS Stock Data

1.74B
6.59M
6.12%
83.58%
0.99%
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