Jefferies Group Comments on Virtus Investment Partners Inc’s FY2017 Earnings (VRTS)

Virtus Investment Partners Inc (NASDAQ:VRTS) – Analysts at Jefferies Group raised their FY2017 earnings per share estimates for shares of Virtus Investment Partners in a report issued on Wednesday. Jefferies Group analyst S. Thind now expects that the closed-end fund will post earnings of $7.63 per share for the year, up from their prior forecast of $7.59. Jefferies Group has a “Hold” rating and a $127.00 price objective on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2017 earnings at $2.46 EPS, Q1 2018 earnings at $2.61 EPS, Q2 2018 earnings at $3.02 EPS, Q3 2018 earnings at $3.26 EPS, Q4 2018 earnings at $3.44 EPS, FY2018 earnings at $12.34 EPS and FY2019 earnings at $13.89 EPS.

Several other research analysts have also issued reports on VRTS. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 price target on the stock in a research report on Thursday, September 28th. BidaskClub lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Sandler O’Neill set a $132.00 price target on shares of Virtus Investment Partners and gave the stock a “hold” rating in a research report on Thursday. Goldman Sachs Group upgraded shares of Virtus Investment Partners from a “sell” rating to a “neutral” rating and set a $130.00 price target on the stock in a research report on Tuesday, January 9th. Finally, Barclays lifted their price target on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Virtus Investment Partners has a consensus rating of “Hold” and a consensus price target of $132.13.

Virtus Investment Partners (VRTS) opened at $131.40 on Friday. The stock has a market cap of $929.11, a P/E ratio of 24.51, a price-to-earnings-growth 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 posted its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). The business 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%. The company’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS.

A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC boosted its stake in Virtus Investment Partners by 1,798.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock worth $209,000 after purchasing an additional 1,709 shares during the period. Point72 Asset Management L.P. boosted its stake in Virtus Investment Partners by 2,031.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 74,600 shares of the closed-end fund’s stock worth $8,657,000 after purchasing an additional 71,100 shares during the period. Mangrove Partners boosted its stake in Virtus Investment Partners by 9.8% in the 3rd quarter. Mangrove Partners now owns 49,344 shares of the closed-end fund’s stock worth $5,726,000 after purchasing an additional 4,412 shares during the period. OxFORD Asset Management LLP boosted its stake in Virtus Investment Partners by 139.3% in the 3rd quarter. OxFORD Asset Management LLP now owns 13,016 shares of the closed-end fund’s stock worth $1,510,000 after purchasing an additional 7,577 shares during the period. Finally, KBC Group NV boosted its stake in Virtus Investment Partners by 455.1% in the 3rd quarter. KBC Group NV now owns 9,531 shares of the closed-end fund’s stock worth $1,106,000 after purchasing an additional 7,814 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, January 30th. Virtus Investment Partners’s dividend payout ratio is 33.58%.

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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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