Zacks Investment Research Lowers Virtus Investment Partners (VRTS) to Hold

Zacks Investment Research lowered shares of Virtus Investment Partners (NASDAQ:VRTS) from a buy rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

How to Become a New Pot Stock Millionaire

Other equities analysts also recently issued reports about the stock. TheStreet raised shares of Virtus Investment Partners from a c+ rating to a b rating in a report on Thursday, November 30th. BidaskClub raised shares of Virtus Investment Partners from a hold rating to a buy rating in a report on Wednesday, February 7th. Barclays lifted their price objective on shares of Virtus Investment Partners from $133.00 to $140.00 and gave the stock an equal weight rating in a report on Monday, February 5th. Morgan Stanley lifted their price objective on shares of Virtus Investment Partners from $127.00 to $136.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Finally, Sandler O’Neill set a $136.00 price objective on shares of Virtus Investment Partners and gave the stock a hold rating in a report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Virtus Investment Partners currently has an average rating of Hold and a consensus price target of $140.63.

Virtus Investment Partners (VRTS) opened at $132.05 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 17.17 and a current ratio of 17.17. The stock has a market cap of $938.36, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 0.29 and a beta of 1.74. Virtus Investment Partners has a fifty-two week low of $97.60 and a fifty-two week high of $135.90.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.18. The firm had revenue of $128.00 million for the quarter, compared to the consensus estimate of $127.09 million. Virtus Investment Partners had a net margin of 8.70% and a return on equity of 13.75%. The business’s revenue for the quarter was up 60.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. sell-side analysts anticipate that Virtus Investment Partners will post 12.36 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, April 27th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 45.57%.

Several large investors have recently modified their holdings of VRTS. Point72 Asset Management L.P. boosted its holdings in shares of Virtus Investment Partners by 2,031.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 74,600 shares of the closed-end fund’s stock worth $8,657,000 after buying an additional 71,100 shares during the last quarter. WCM Investment Management CA boosted its holdings in shares of Virtus Investment Partners by 494.8% in the 4th quarter. WCM Investment Management CA now owns 55,076 shares of the closed-end fund’s stock worth $6,336,000 after buying an additional 45,817 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Virtus Investment Partners by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 174,866 shares of the closed-end fund’s stock worth $20,302,000 after buying an additional 42,139 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Virtus Investment Partners by 5.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 475,167 shares of the closed-end fund’s stock worth $55,143,000 after buying an additional 23,679 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Virtus Investment Partners by 155.4% in the 4th quarter. Renaissance Technologies LLC now owns 31,229 shares of the closed-end fund’s stock worth $3,593,000 after buying an additional 19,000 shares during the last quarter. 95.81% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2018/03/17/zacks-investment-research-lowers-virtus-investment-partners-vrts-to-hold.html.

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.

Get a free copy of the Zacks research report on Virtus Investment Partners (VRTS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply