Virtus Investment Partners’ (VRTS) “Neutral” Rating Reiterated at Bank of America

Bank of America reaffirmed their neutral rating on shares of Virtus Investment Partners (NASDAQ:VRTS) in a report published on Thursday, Marketbeat reports. The firm currently has a $100.00 price target on the closed-end fund’s stock, down from their previous price target of $115.00.

Several other equities analysts have also recently issued reports on VRTS. BidaskClub cut Virtus Investment Partners from a buy rating to a hold rating in a research report on Wednesday, August 29th. ValuEngine cut Virtus Investment Partners from a sell rating to a strong sell rating in a research report on Thursday, September 27th. Morgan Stanley upped their price objective on Virtus Investment Partners from $145.00 to $147.00 and gave the company a hold rating in a research report on Tuesday, October 9th. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a buy rating and set a $126.00 price objective on the stock in a research report on Saturday, October 13th. Finally, Credit Suisse Group set a $150.00 price objective on Virtus Investment Partners and gave the company a buy rating in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $124.57.

Shares of Virtus Investment Partners stock traded down $0.55 during midday trading on Thursday, hitting $84.88. The company had a trading volume of 529 shares, compared to its average volume of 48,518. The company has a market capitalization of $652.98 million, a P/E ratio of 11.08, a PEG ratio of 0.30 and a beta of 1.39. Virtus Investment Partners has a 52-week low of $84.19 and a 52-week high of $138.02.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, October 26th. The closed-end fund reported $3.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.30. The business had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $149.06 million. Virtus Investment Partners had a return on equity of 19.05% and a net margin of 14.55%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.30 EPS. Research analysts predict that Virtus Investment Partners will post 12.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be given a $0.55 dividend. The ex-dividend date is Wednesday, January 30th. This represents a $2.20 annualized dividend and a yield of 2.59%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 28.65%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC lifted its holdings in shares of Virtus Investment Partners by 4.8% during the 3rd quarter. Teachers Advisors LLC now owns 13,457 shares of the closed-end fund’s stock valued at $1,531,000 after buying an additional 622 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Virtus Investment Partners by 47.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 2,564 shares of the closed-end fund’s stock valued at $328,000 after buying an additional 828 shares during the period. Legal & General Group Plc lifted its holdings in shares of Virtus Investment Partners by 5.9% during the 3rd quarter. Legal & General Group Plc now owns 16,276 shares of the closed-end fund’s stock valued at $1,854,000 after buying an additional 910 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Virtus Investment Partners by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 54,963 shares of the closed-end fund’s stock valued at $6,804,000 after buying an additional 1,398 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Virtus Investment Partners by 12.7% during the 3rd quarter. Wells Fargo & Company MN now owns 13,679 shares of the closed-end fund’s stock valued at $1,556,000 after buying an additional 1,543 shares during the period. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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