Shares of Virtus Investment Partners Inc (NASDAQ:VRTS) have been given an average recommendation of “Hold” by the eight brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $98.80.
VRTS has been the topic of several research reports. BidaskClub lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine raised Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. Barclays raised their price objective on Virtus Investment Partners from $90.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 19th. Morgan Stanley set a $92.00 price objective on Virtus Investment Partners and gave the company a “hold” rating in a research report on Friday, February 8th. Finally, Credit Suisse Group set a $113.00 price objective on Virtus Investment Partners and gave the company an “outperform” rating in a research report on Monday, January 14th.
Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its position in Virtus Investment Partners by 1.1% in the third quarter. Vanguard Group Inc now owns 683,345 shares of the closed-end fund’s stock valued at $77,731,000 after purchasing an additional 7,394 shares during the period. Teachers Advisors LLC increased its position in shares of Virtus Investment Partners by 4.8% during the third quarter. Teachers Advisors LLC now owns 13,457 shares of the closed-end fund’s stock worth $1,531,000 after acquiring an additional 622 shares during the last quarter. BlackRock Inc. increased its position in shares of Virtus Investment Partners by 3.9% during the third quarter. BlackRock Inc. now owns 1,055,529 shares of the closed-end fund’s stock worth $120,066,000 after acquiring an additional 39,371 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Virtus Investment Partners by 1.1% during the third quarter. Vanguard Group Inc. now owns 683,345 shares of the closed-end fund’s stock worth $77,731,000 after acquiring an additional 7,394 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Virtus Investment Partners by 63.5% during the fourth quarter. WCM Investment Management LLC now owns 73,656 shares of the closed-end fund’s stock worth $5,850,000 after acquiring an additional 28,597 shares during the last quarter. 94.47% of the stock is currently owned by institutional investors.
Shares of VRTS opened at $100.46 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 16.69 and a current ratio of 16.69. The firm has a market capitalization of $700.49 million, a P/E ratio of 8.19, a PEG ratio of 0.58 and a beta of 1.53. Virtus Investment Partners has a twelve month low of $70.00 and a twelve month high of $138.02.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, February 1st. The closed-end fund reported $3.06 earnings per share for the quarter, hitting the consensus estimate of $3.06. The business had revenue of $138.10 million for the quarter, compared to analyst estimates of $143.54 million. Virtus Investment Partners had a return on equity of 19.83% and a net margin of 13.68%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $2.60 EPS. Equities research analysts expect that Virtus Investment Partners will post 10.34 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.19%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 17.94%.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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