BidaskClub downgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a sell rating in a research report sent to investors on Wednesday, December 27th.
Other research analysts have also issued research reports about the company. Morgan Stanley set a $123.00 price objective on Virtus Investment Partners and gave the company an equal weight rating in a research report on Thursday, October 5th. Barclays boosted their price objective on Virtus Investment Partners from $116.00 to $125.00 and gave the company an equal weight rating in a research report on Monday, October 30th. TheStreet upgraded Virtus Investment Partners from a c+ rating to a b rating in a research report on Thursday, November 30th. Zacks Investment Research lowered Virtus Investment Partners from a strong-buy rating to a hold rating in a research report on Thursday, October 12th. Finally, Bank of America upgraded Virtus Investment Partners from an underperform rating to a neutral rating and boosted their price objective for the company from $112.00 to $130.00 in a research report on Monday, October 9th. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $132.13.
Virtus Investment Partners (VRTS) opened at $131.40 on Wednesday. The company has a market capitalization of $929.11, a P/E ratio of 24.51, a PEG ratio of 0.33 and a beta of 1.90. Virtus Investment Partners has a 12-month low of $97.60 and a 12-month high of $132.85.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, October 27th. The closed-end fund reported $2.30 EPS for the quarter, missing the consensus estimate of $2.38 by ($0.08). The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $116.85 million. Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. Virtus Investment Partners’s revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. research analysts expect that Virtus Investment Partners will post 7.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, January 30th. Virtus Investment Partners’s payout ratio is currently 33.58%.
Institutional investors have recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan raised its stake in Virtus Investment Partners by 6.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 1,570 shares of the closed-end fund’s stock valued at $174,000 after acquiring an additional 100 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Virtus Investment Partners during the 3rd quarter valued at $204,000. Aperio Group LLC bought a new stake in Virtus Investment Partners during the 2nd quarter valued at $205,000. Cubist Systematic Strategies LLC raised its stake in Virtus Investment Partners by 1,798.9% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after acquiring an additional 1,709 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Virtus Investment Partners by 52.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock valued at $275,000 after acquiring an additional 848 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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