Virtus Investment Partners, Inc. (NASDAQ:VRTS) has earned a consensus rating of “Hold” from the nine research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $119.40.
Several research analysts recently commented on the stock. BidaskClub downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Barclays PLC assumed coverage on shares of Virtus Investment Partners in a research note on Friday, September 8th. They issued an “equal weight” rating and a $113.00 target price on the stock. Credit Suisse Group raised shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $141.00 to $147.00 in a research note on Monday, July 31st. ValuEngine downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $117.00 target price on shares of Virtus Investment Partners in a research note on Friday, August 18th.
Virtus Investment Partners (VRTS) traded up 0.99% during midday trading on Tuesday, hitting $111.80. 145,951 shares of the stock traded hands. The company has a market capitalization of $806.86 million, a price-to-earnings ratio of 21.76 and a beta of 1.74. The stock’s 50-day moving average price is $109.81 and its 200 day moving average price is $108.08. Virtus Investment Partners has a 52 week low of $90.39 and a 52 week high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The firm had revenue of $94.10 million during the quarter, compared to analysts’ expectations of $91.78 million. During the same period in the previous year, the firm earned $1.24 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts predict that Virtus Investment Partners will post $7.60 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, October 30th. Virtus Investment Partners’s payout ratio is currently 35.02%.
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Institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue boosted its holdings in shares of Virtus Investment Partners by 83.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock valued at $144,000 after buying an additional 595 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Virtus Investment Partners by 14.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock valued at $156,000 after buying an additional 190 shares in the last quarter. Mason Street Advisors LLC boosted its holdings in shares of Virtus Investment Partners by 23.9% during the 1st quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock valued at $160,000 after buying an additional 292 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Virtus Investment Partners by 17.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock valued at $172,000 after buying an additional 244 shares in the last quarter. Finally, Aperio Group LLC bought a new stake in shares of Virtus Investment Partners during the 2nd quarter valued at $205,000. 95.86% of the stock is currently owned by institutional investors and hedge funds.
About Virtus Investment Partners
Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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