Q3 2016 EPS Estimates for Virtus Investment Partners Inc. Increased by Analyst (VRTS)
Virtus Investment Partners Inc. (NASDAQ:VRTS) – Research analysts at Jefferies Group increased their Q3 2016 EPS estimates for shares of Virtus Investment Partners in a research note issued on Tuesday. Jefferies Group analyst S. Thind now anticipates that the brokerage will earn $1.51 per share for the quarter, up from their previous estimate of $1.47. Jefferies Group currently has a “Hold” rating and a $97.00 target price on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2016 earnings at $1.53 EPS, FY2016 earnings at $5.37 EPS and FY2017 earnings at $6.25 EPS.
VRTS has been the subject of a number of other reports. Zacks Investment Research downgraded Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Credit Suisse Group AG raised Virtus Investment Partners from a “neutral” rating to an “outperform” rating and increased their price target for the company from $90.00 to $91.00 in a research report on Thursday, July 14th.
Virtus Investment Partners (NASDAQ:VRTS) traded up 0.41% on Wednesday, reaching $98.26. The company’s stock had a trading volume of 22,833 shares. The company has a market cap of $758.37 million, a P/E ratio of 32.01 and a beta of 1.79. The company has a 50-day moving average price of $94.02 and a 200 day moving average price of $82.49. Virtus Investment Partners has a 12 month low of $66.12 and a 12 month high of $141.97.
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Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 29th. The closed-end fund reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by $0.08. Virtus Investment Partners had a return on equity of 9.37% and a net margin of 7.80%. The company had revenue of $80.10 million for the quarter, compared to analyst estimates of $78.86 million. During the same quarter in the prior year, the company earned $2.21 earnings per share. The business’s revenue was down 19.6% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 11th. Shareholders of record on Monday, October 31st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, October 27th. Virtus Investment Partners’s dividend payout ratio is currently 57.88%.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock worth $127,000 after buying an additional 1,291 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Virtus Investment Partners by 87.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,052 shares of the closed-end fund’s stock worth $146,000 after buying an additional 957 shares in the last quarter. Loews Corp purchased a new stake in Virtus Investment Partners during the second quarter worth about $205,000. BW Gestao de Investimentos Ltda. purchased a new stake in Virtus Investment Partners during the second quarter worth about $345,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Virtus Investment Partners during the first quarter worth about $375,000. 96.23% of the stock is owned by institutional investors and hedge funds.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc 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.
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