Virtus Investmen Stock Price, News & Analysis

Virtus Investment Partners (NASDAQ: VRTS) has declared a quarterly cash dividend of $0.82 per common share for Q2 2021. The dividend will be paid on August 13, 2021 to shareholders of record as of July 30, 2021. Future dividends will require Board approval. This dividend reflects the company's ongoing commitment to returning value to shareholders while maintaining a focus on long-term investment success.

Virtus Investment Partners reported total assets under management (AUM) of $176.2 billion as of April 30, 2021, reflecting growth from $168.9 billion at the end of March 2021. The company also administered $3.8 billion in other fee-earning assets. Key product types include Open-End Funds at $74.8 billion, Closed-End Funds at $12.0 billion, and Institutional Accounts at $44.7 billion. The comprehensive report showcases Virtus's commitment to asset management and its diverse investment strategies.

On May 4, 2021, Virtus Total Return Fund Inc. (NYSE: ZTR) announced a monthly distribution of $0.08 per share, payable on May 20, 2021. The distribution's ex-date is May 12, 2021, and the record date is May 13, 2021. Under its Managed Distribution Plan, the fund may pay distributions partially from net investment income and realized capital gains, with potential returns from the fund's assets if income falls short. The fund estimates over-distribution from its capital, potentially impacting shareholders' capital. The current fiscal YTD annualized distribution rate stands at 10.07%.

Virtus Investment Partners (NASDAQ: VRTS) announced the appointment of Rick Smirl as executive vice president and chief operating officer, bringing over 20 years of asset management experience. Smirl will oversee product management and investment operations, succeeding Frank Waltman, who retired in March. Previously, he held leadership roles at Russell Investments and William Blair Investment Management, focusing on global operations, product development, and technology. CEO George R. Aylward praised Smirl's industry expertise and leadership skills, aligning with Virtus' strategic goals of enhancing investment capabilities.

Virtus Investment Partners (NASDAQ: VRTS) reported significant financial growth for Q1 2021. Revenues surged 50% year-over-year to $216.9 million, while net income grew to $36.6 million, up from a loss of $4.3 million the previous year. Operating income rose 152% to $62.1 million, with an operating margin of 28.7%. Total assets under management increased 28% to $168.9 billion, boosted by a $29.5 billion addition from the AllianzGI partnership. The diluted EPS reached $4.54, reflecting substantial operational improvements and positive net flows of $2.4 billion.

Virtus Investment Partners (NASDAQ: VRTS) will release its Q1 2021 financial results on April 28, 2021, before market open. A conference call will follow at 10:00 a.m. Eastern, featuring CEO George R. Aylward and CFO Michael A. Angerthal. Investors can access the call via a webcast or by telephone. A replay will be available until May 5, 2021. Virtus focuses on long-term investment success for clients, partnering with boutique investment managers to offer diverse investment products.

Virtus Investment Partners (NASDAQ: VRTS) announced total assets under management (AUM) of $168.9 billion as of March 31, 2021, marking an increase attributed to a $29.5 billion inflow from its strategic partnership with Allianz Global Investors, alongside market appreciation and positive net flows. The company also reported $3.4 billion in additional fee-earning assets outside of AUM. The AUM figures for key product types include $72.164 billion in open-end funds and $37.244 billion in retail separate accounts.

Virtus Total Return Fund Inc. (NYSE: ZTR) has announced a monthly distribution of $0.08 for April 2021. The ex-date is set for April 9, 2021, with a record date of April 12, 2021, and payments scheduled for April 19, 2021. The fund operates under a Managed Distribution Plan, which may result in some distributions being a return of capital. For March 2021, 27.4% of the distribution comes from net investment income, while 72.6% is classified as a return of capital. Shareholders are advised not to draw conclusions about the fund's performance from this distribution.

DNP Select Income Fund (NYSE: DNP) will redeem its Floating Rate Mandatory Redeemable Preferred Shares on April 1, 2021. This includes the redemption of 600 Series B MRP Shares valued at $60 million and 330 Series D MRP Shares worth $33 million, both at 100% of their liquidation preference. The total redemption will be financed by a $93 million borrowing from the Fund's existing credit facility. These shares will not incur accrued and unpaid dividends as they are redeemed on their final payment date.