Virtus Investment Partners (NASDAQ:VRTS) PT Lowered to $118.00 at Morgan Stanley

Virtus Investment Partners (NASDAQ:VRTS) had its price objective trimmed by Morgan Stanley from $121.00 to $118.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the closed-end fund’s stock.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of GRIFOLS S A/S from a sell rating to a hold rating in a research report on Friday, April 12th. Bank of America set a $20.00 price target on shares of Fiat Chrysler Automobiles and gave the company a hold rating in a research report on Thursday, June 6th. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a research report on Friday, June 28th. ValuEngine raised shares of YPF from a sell rating to a hold rating in a research note on Monday, June 24th. Finally, TheStreet raised shares of ZTO Express (Cayman) from a c+ rating to a b rating in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Virtus Investment Partners has an average rating of Hold and a consensus target price of $111.00.

NASDAQ VRTS opened at $111.15 on Tuesday. The company’s 50-day simple moving average is $106.04. Virtus Investment Partners has a 12-month low of $70.00 and a 12-month high of $134.25. The stock has a market capitalization of $758.96 million, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.63.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, April 26th. The closed-end fund reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.42. Virtus Investment Partners had a net margin of 13.35% and a return on equity of 20.19%. The business had revenue of $130.70 million during the quarter, compared to analyst estimates of $131.64 million. During the same period in the prior year, the business posted $2.59 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts forecast that Virtus Investment Partners will post 13.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, July 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is 17.94%.

Several large investors have recently modified their holdings of VRTS. GYL Financial Synergies LLC bought a new stake in Virtus Investment Partners in the 1st quarter valued at $979,000. Marshall Wace LLP bought a new stake in Virtus Investment Partners in the 1st quarter valued at $1,817,000. Loews Corp bought a new stake in Virtus Investment Partners in the 1st quarter valued at $211,000. WCM Investment Management LLC increased its holdings in Virtus Investment Partners by 70.0% in the 1st quarter. WCM Investment Management LLC now owns 125,198 shares of the closed-end fund’s stock valued at $12,213,000 after acquiring an additional 51,542 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Virtus Investment Partners in the 1st quarter valued at $590,000. 93.80% of the stock is 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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