NCV (NCV)
Financial Services · NYQ
Fundamentals
Valuation and ratings
NCV trades at USD16.86, which is 117% below the USD36.52 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 66 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 4.5 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
NCV dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.816 | 6 |
| 2025 | USD1.63 | 12 |
| 2024 | USD1.63 | 12 |
| 2023 | USD1.74 | 12 |
| 2022 | USD2.06 | 12 |
| 2021 | USD2.06 | 12 |
| 2020 | USD2.18 | 12 |
| 2019 | USD2.69 | 12 |
| 2018 | USD3.12 | 12 |
| 2017 | USD3.12 | 12 |
| 2016 | USD3.12 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About NCV
Virtus Convertible & Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Allianz Global Investors U.S. LLC. It invests in fixed income markets of the United States. The fund primarily invests in convertible securities and non-convertible high-yield bonds rated below investment grade. It invests in securities with a broad range of maturities, with a weighted average maturity ranging between five to ten years. The fund employs fundamental analysis with a bottom up stock picking approach to create its portfolio. It conducts in house research using proprietary models. The fund was formerly known as AGIC Convertible & Income Fund. Virtus Convertible & Income Fund was formed on March 31, 2003 and is domiciled in the United States.
NCV passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
1 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Israel Englander, MILLENNIUM MANAGEMENT LLC$397.7K · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is NCV (NCV) undervalued?
Against our discounted cash flow estimate of USD36.52, NCV at USD16.86 is 117% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own NCV?
1 of the institutions we track reported a position in NCV in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is NCV's P/E ratio?
NCV trades at 4.5 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does NCV (NCV) pay a dividend?
Yes. NCV yields 9.83% at the current share price. It has paid USD1.50 per share over the trailing twelve months. It has paid a dividend in each of the last 23 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
The full research page for NCV, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.