Virtus Investment Partners, Inc. (VRTS) Given Average Recommendation of “Hold” by Analysts
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.
COPYRIGHT VIOLATION NOTICE: This article was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/07/24/virtus-investment-partners-inc-vrts-given-average-recommendation-of-hold-by-analysts.html.
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.
Receive News & Ratings for Virtus Investment Partners Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners Inc. and related companies with MarketBeat.com's FREE daily email newsletter.