Virtus Investment Partners, Inc. (VRTS) Given Consensus Recommendation of “Hold” by Brokerages
Virtus Investment Partners, Inc. (NASDAQ:VRTS) has earned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $130.00.
VRTS has been the topic of a number of analyst reports. BidaskClub raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Morgan Stanley set a $123.00 price target on Virtus Investment Partners and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Barclays PLC initiated coverage on Virtus Investment Partners in a research report on Friday, September 8th. They issued an “equal weight” rating and a $113.00 price target on the stock. ValuEngine lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $117.00 price target on shares of Virtus Investment Partners in a research report on Friday, August 18th.
Virtus Investment Partners (VRTS) opened at 116.40 on Wednesday. The firm has a 50-day moving average of $117.67 and a 200-day moving average of $110.85. Virtus Investment Partners has a one year low of $97.60 and a one year high of $128.10. The company has a market capitalization of $840.06 million, a P/E ratio of 22.65 and a beta of 1.76.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.08). The company had revenue of $123.70 million during the quarter, compared to analyst estimates of $116.85 million. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 13.33%. Virtus Investment Partners’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. On average, analysts anticipate that Virtus Investment Partners will post $7.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 33.58%.
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Virtus Investment Partners by 83.8% during 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 acquiring an additional 595 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Virtus Investment Partners by 14.8% during 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 period. Crossmark Global Holdings Inc. acquired a new position in Virtus Investment Partners during the third quarter worth approximately $204,000. Aperio Group LLC acquired a new position in Virtus Investment Partners during the second quarter worth approximately $205,000. Finally, OppenheimerFunds Inc. increased its position in Virtus Investment Partners by 25.4% during the first quarter. OppenheimerFunds Inc. now owns 2,288 shares of the closed-end fund’s stock worth $243,000 after buying an additional 464 shares during the period. 95.55% of the stock is currently owned by institutional investors and hedge funds.
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.
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