Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have received an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $110.00.

A number of brokerages have issued reports on VRTS. Zacks Investment Research raised shares of Virtus Investment Partners from a “sell” rating to a “hold” rating and set a $122.00 price objective on the stock in a research report on Friday, April 14th. Jefferies Group LLC set a $110.00 price objective on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Sunday, April 30th. Morgan Stanley began coverage on shares of Virtus Investment Partners in a research report on Thursday, June 1st. They set an “equal weight” rating and a $105.00 price objective on the stock. Finally, BidaskClub raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th.

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Shares of Virtus Investment Partners (VRTS) traded up 0.49% during midday trading on Monday, reaching $113.70. 10,208 shares of the company’s stock traded hands. Virtus Investment Partners has a 52-week low of $79.84 and a 52-week high of $128.10. The company has a 50 day moving average of $109.84 and a 200 day moving average of $109.32. The firm has a market cap of $794.65 million, a PE ratio of 17.82 and a beta of 1.71.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, April 28th. The closed-end fund reported $1.16 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $79.78 million during the quarter, compared to analysts’ expectations of $80.67 million. During the same period in the previous year, the firm earned $1.12 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Virtus Investment Partners will post $7.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, July 27th. Virtus Investment Partners’s payout ratio is 27.91%.

A number of institutional investors have recently bought and sold shares of VRTS. Comerica Bank boosted its position in shares of Virtus Investment Partners by 2.9% in the fourth quarter. Comerica Bank now owns 5,920 shares of the closed-end fund’s stock valued at $729,000 after buying an additional 167 shares during the period. State Street Corp raised its stake in Virtus Investment Partners by 1.1% in the fourth quarter. State Street Corp now owns 123,883 shares of the closed-end fund’s stock valued at $14,622,000 after buying an additional 1,320 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Virtus Investment Partners by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,040 shares of the closed-end fund’s stock valued at $359,000 after buying an additional 170 shares in the last quarter. Norges Bank purchased a new stake in Virtus Investment Partners during the fourth quarter valued at about $5,237,000. Finally, Peregrine Capital Management LLC raised its stake in Virtus Investment Partners by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 176,231 shares of the closed-end fund’s stock valued at $18,284,000 after buying an additional 12,089 shares in the last quarter. Institutional investors and hedge funds own 98.41% of the company’s stock.

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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