Virtus Investment Partners Reaches New 52-Week High at $224.37 (VRTS)
Virtus Investment Partners (NASDAQ:VRTS) reached a new 52-week high on Thursday , Analyst Ratings News reports. The company traded as high as $224.37 and last traded at $223.80, with a volume of 20,716 shares. The stock had previously closed at $222.75.
A number of analysts have recently weighed in on VRTS shares. Analysts at Raymond James reiterated an “outperform” rating on shares of Virtus Investment Partners in a research note on Tuesday, July 29th. They now have a $235.00 price target on the stock, down previously from $245.00. Separately, analysts at Bank of America reiterated a “neutral” rating on shares of Virtus Investment Partners in a research note on Tuesday, July 29th. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Virtus Investment Partners in a research note on Tuesday, July 29th. They now have a $234.00 price target on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $218.20.
The stock’s 50-day moving average is $211.2 and its 200-day moving average is $193.1. The company has a market cap of $2.042 billion and a price-to-earnings ratio of 23.13.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Monday, July 28th. The company reported $2.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.57 by $0.47. The company had revenue of $112.70 million for the quarter, compared to the consensus estimate of $113.53 million. During the same quarter in the prior year, the company posted $1.91 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts expect that Virtus Investment Partners will post $10.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, October 29th.
Virtus Investment Partners, Inc (NASDAQ:VRTS) is a provider of investment management products and services to individuals and institutions.
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