Virtus Investment Partners (VRTS) to Release Quarterly Earnings on Friday

Virtus Investment Partners (NASDAQ:VRTS) will be releasing its earnings data before the market opens on Friday, April 26th. Analysts expect Virtus Investment Partners to post earnings of $5.44 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $6.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.96 by $0.15. The firm had revenue of $214.59 million for the quarter, compared to the consensus estimate of $196.20 million. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. During the same quarter in the previous year, the company earned $5.17 EPS. On average, analysts expect Virtus Investment Partners to post $27 EPS for the current fiscal year and $29 EPS for the next fiscal year.

Virtus Investment Partners Price Performance

Virtus Investment Partners stock opened at $219.80 on Friday. Virtus Investment Partners has a fifty-two week low of $165.00 and a fifty-two week high of $263.39. The firm’s 50 day simple moving average is $236.12 and its 200-day simple moving average is $219.99. The company has a market cap of $1.58 billion, a P/E ratio of 12.41 and a beta of 1.52.

Virtus Investment Partners Announces Dividend

The company 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 dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, April 29th. Virtus Investment Partners’s payout ratio is 42.91%.

Institutional Trading of Virtus Investment Partners

A number of institutional investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC increased its position in Virtus Investment Partners by 87.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 146,100 shares of the closed-end fund’s stock worth $27,969,000 after buying an additional 68,002 shares during the last quarter. Norges Bank bought a new stake in shares of Virtus Investment Partners during the 4th quarter worth about $12,827,000. Vanguard Group Inc. increased its holdings in shares of Virtus Investment Partners by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 896,632 shares of the closed-end fund’s stock valued at $215,182,000 after acquiring an additional 48,669 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Virtus Investment Partners by 39.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,635 shares of the closed-end fund’s stock valued at $20,125,000 after acquiring an additional 28,359 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Virtus Investment Partners by 2.3% in the 1st quarter. BlackRock Inc. now owns 1,188,513 shares of the closed-end fund’s stock worth $285,232,000 after purchasing an additional 27,115 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRTS shares. Morgan Stanley increased their target price on Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a report on Wednesday. TD Cowen downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $285.00 to $264.00 in a research note on Monday, April 8th. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Piper Sandler upped their target price on Virtus Investment Partners from $264.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, March 27th.

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.