Equities Analysts Set Expectations for Virtus Investment Partners, Inc.’s FY2019 Earnings (VRTS)
Virtus Investment Partners, Inc. (NASDAQ:VRTS) – Stock analysts at Jefferies Group issued their FY2019 EPS estimates for Virtus Investment Partners in a research note issued to investors on Tuesday. Jefferies Group analyst S. Thind anticipates that the closed-end fund will post earnings of $12.36 per share for the year. Jefferies Group has a “Hold” rating and a $127.00 price target on the stock.
Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $94.10 million for the quarter, compared to analyst estimates of $91.78 million. During the same period in the previous year, the business posted $1.24 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis.
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Several other analysts have also recently weighed in on VRTS. Morgan Stanley reissued an “equal weight” rating and set a $114.00 price objective (up from $105.00) on shares of Virtus Investment Partners in a report on Monday, July 10th. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Credit Suisse Group raised 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. ValuEngine cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, Barclays PLC started coverage on Virtus Investment Partners in a report on Friday, September 8th. They set an “equal weight” rating and a $113.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Virtus Investment Partners currently has an average rating of “Hold” and an average price target of $129.33.
Virtus Investment Partners (NASDAQ VRTS) traded up 0.41% during trading on Thursday, hitting $122.05. 32,356 shares of the stock traded hands. Virtus Investment Partners has a 52 week low of $92.80 and a 52 week high of $128.10. The firm’s 50-day moving average is $112.05 and its 200 day moving average is $109.33. The stock has a market cap of $880.83 million, a P/E ratio of 23.75 and a beta of 1.76.
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 dividend of $0.45 per share. The ex-dividend date is Monday, October 30th. This represents a $1.80 annualized dividend and a yield of 1.48%. Virtus Investment Partners’s dividend payout ratio is currently 35.02%.
A number of large investors have recently made changes to their positions in the business. Prudential Financial Inc. increased its stake in shares of Virtus Investment Partners by 14.8% in the 1st quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock valued at $1,188,000 after acquiring an additional 1,448 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Virtus Investment Partners in the 1st quarter valued at about $1,739,000. Texas Permanent School Fund increased its stake in shares of Virtus Investment Partners by 15.0% in the 1st quarter. Texas Permanent School Fund now owns 4,690 shares of the closed-end fund’s stock valued at $497,000 after acquiring an additional 610 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Virtus Investment Partners in the 2nd quarter valued at about $579,000. Finally, UBS Group AG increased its stake in shares of Virtus Investment Partners by 62.8% in the 1st quarter. UBS Group AG now owns 15,717 shares of the closed-end fund’s stock valued at $1,664,000 after acquiring an additional 6,065 shares during the last quarter. 95.86% of the stock is owned by hedge funds and other 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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