Virtus Investment Partners, Inc. (VRTS) Rating Reiterated by Morgan Stanley
Virtus Investment Partners, Inc. (NASDAQ:VRTS)‘s stock had its “equal weight” rating reiterated by analysts at Morgan Stanley in a note issued to investors on Monday. They presently have a $114.00 target price on the closed-end fund’s stock, up from their prior target price of $105.00. Morgan Stanley’s target price indicates a potential upside of 1.83% from the company’s current price.
A number of other analysts have also weighed in on VRTS. Zacks Investment Research upgraded Virtus Investment Partners from a “sell” rating to a “hold” rating and set a $122.00 target price on the stock in a research note on Friday, April 14th. Jefferies Group LLC set a $110.00 price target on Virtus Investment Partners and gave the stock a “hold” rating in a research report on Sunday, April 30th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Virtus Investment Partners has a consensus rating of “Hold” and an average price target of $113.20.
Virtus Investment Partners (NASDAQ:VRTS) remained flat at $111.95 during mid-day trading on Monday. 16,033 shares of the company’s stock were exchanged. The stock has a market cap of $782.42 million, a price-to-earnings ratio of 17.55 and a beta of 1.71. Virtus Investment Partners has a 52 week low of $75.68 and a 52 week high of $128.10. The stock has a 50-day moving average of $105.17 and a 200 day moving average of $109.89.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, April 28th. The closed-end fund reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by $0.46. Virtus Investment Partners had a return on equity of 10.71% and a net margin of 15.27%. The business had revenue of $79.78 million during the quarter, compared to analysts’ expectations of $80.67 million. During the same quarter in the previous year, the business earned $1.12 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Virtus Investment Partners will post $7.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, July 27th. Virtus Investment Partners’s payout ratio is 27.91%.
A number of large investors have recently modified their holdings of VRTS. Municipal Employees Retirement System of Michigan increased its stake in shares of Virtus Investment Partners by 14.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock worth $156,000 after buying an additional 190 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Virtus Investment Partners by 23.9% in the first quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock worth $160,000 after buying an additional 292 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Virtus Investment Partners by 17.6% in the first quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock worth $172,000 after buying an additional 244 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Virtus Investment Partners during the first quarter worth $203,000. Finally, Trexquant Investment LP bought a new stake in shares of Virtus Investment Partners during the first quarter worth $220,000. 98.54% of the stock is currently owned by institutional investors.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc (Virtus) 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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