Jefferies Group Comments on Virtus Investment Partners, Inc.’s Q3 2017 Earnings (VRTS)
Virtus Investment Partners, Inc. (NASDAQ:VRTS) – Equities researchers at Jefferies Group increased their Q3 2017 earnings per share estimates for shares of Virtus Investment Partners in a note issued to investors on Tuesday. Jefferies Group analyst S. Thind now expects that the closed-end fund will post earnings of $2.40 per share for the quarter, up from their previous forecast of $2.34. Jefferies Group has a “Hold” rating and a $127.00 price target on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2017 earnings at $2.56 EPS, FY2017 earnings at $7.81 EPS and FY2018 earnings at $10.89 EPS.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The business had revenue of $94.10 million during the quarter, compared to analyst estimates of $91.78 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was up 17.5% on a year-over-year basis.
COPYRIGHT VIOLATION NOTICE: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/11/jefferies-group-comments-on-virtus-investment-partners-inc-s-q3-2017-earnings-vrts.html.
A number of other equities analysts have also commented on the stock. Morgan Stanley set a $110.00 price objective on shares of Virtus Investment Partners and gave the stock a “hold” rating in a report on Monday, July 17th. Credit Suisse Group upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $141.00 to $147.00 in a report on Monday, July 31st. Barclays PLC started coverage on shares of Virtus Investment Partners in a report on Friday, September 8th. They issued an “equal weight” rating and a $113.00 price objective on the stock. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, ValuEngine lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $129.33.
Shares of Virtus Investment Partners (VRTS) opened at 122.75 on Wednesday. The firm has a market capitalization of $885.89 million, a PE ratio of 23.89 and a beta of 1.76. Virtus Investment Partners has a 1-year low of $92.80 and a 1-year high of $128.10. The firm has a 50-day moving average price of $111.61 and a 200-day moving average price of $109.24.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.45 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. Virtus Investment Partners’s dividend payout ratio is currently 35.02%.
A number of hedge funds have recently modified their holdings of VRTS. State of Alaska Department of Revenue lifted its holdings in Virtus Investment Partners by 83.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock worth $144,000 after buying an additional 595 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Virtus Investment Partners by 14.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock valued at $156,000 after purchasing an additional 190 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Virtus Investment Partners by 23.9% in the 1st quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock valued at $160,000 after purchasing an additional 292 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Virtus Investment Partners by 17.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock valued at $172,000 after purchasing an additional 244 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in shares of Virtus Investment Partners in the 2nd quarter valued at about $205,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.
About Virtus Investment Partners
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.