Virtus Investment Partners Inc (NASDAQ:VRTS) has earned an average rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $111.50.
VRTS has been the topic of a number of research reports. TheStreet raised Virtus Investment Partners from a “c” rating to a “b-” rating in a report on Friday, April 26th. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Morgan Stanley set a $121.00 price objective on Virtus Investment Partners and gave the company a “hold” rating in a report on Thursday, May 2nd. ValuEngine raised Virtus Investment Partners from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Finally, Bank of America set a $119.00 target price on Virtus Investment Partners and gave the company a “hold” rating in a research report on Tuesday, April 9th.
Several large investors have recently added to or reduced their stakes in VRTS. Norges Bank bought a new stake in shares of Virtus Investment Partners during the 4th quarter valued at $6,569,000. WCM Investment Management LLC lifted its position in shares of Virtus Investment Partners by 70.0% during the 1st quarter. WCM Investment Management LLC now owns 125,198 shares of the closed-end fund’s stock worth $12,213,000 after buying an additional 51,542 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Virtus Investment Partners by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 562,751 shares of the closed-end fund’s stock worth $44,700,000 after buying an additional 29,871 shares during the last quarter. BlackRock Inc. lifted its position in shares of Virtus Investment Partners by 1.9% during the 4th quarter. BlackRock Inc. now owns 1,075,246 shares of the closed-end fund’s stock worth $85,407,000 after buying an additional 19,717 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Virtus Investment Partners during the 1st quarter worth $1,817,000. Hedge funds and other institutional investors own 93.80% of the company’s stock.
NASDAQ VRTS traded up $1.80 on Monday, reaching $107.40. The stock had a trading volume of 88,635 shares, compared to its average volume of 60,601. The stock’s fifty day moving average is $108.36. Virtus Investment Partners has a 1-year low of $70.00 and a 1-year high of $134.25. The stock has a market capitalization of $737.86 million, a P/E ratio of 8.76, a P/E/G ratio of 2.03 and a beta of 1.69.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, April 26th. The closed-end fund reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.42. Virtus Investment Partners had a return on equity of 20.19% and a net margin of 13.35%. The firm had revenue of $130.70 million for the quarter, compared to analyst estimates of $131.64 million. During the same period in the prior year, the firm posted $2.59 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts forecast that Virtus Investment Partners will post 13.13 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. Virtus Investment Partners’s payout ratio is 17.94%.
Virtus Investment Partners Company Profile
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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