Goldman Sachs Group upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a neutral rating in a research report released on Tuesday, MarketBeat Ratings reports. Goldman Sachs Group currently has $130.00 price target on the closed-end fund’s stock.
A number of other equities analysts have also recently commented on VRTS. Zacks Investment Research raised shares of Virtus Investment Partners from a hold rating to a strong-buy rating and set a $133.00 target price on the stock in a report on Thursday, September 28th. Morgan Stanley set a $123.00 target price on shares of Virtus Investment Partners and gave the company an equal weight rating in a report on Thursday, October 5th. Bank of America raised shares of Virtus Investment Partners from an underperform rating to a neutral rating and lifted their target price for the company from $112.00 to $130.00 in a report on Monday, October 9th. Barclays lifted their target price on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an equal weight rating in a report on Tuesday, October 10th. Finally, Jefferies Group reaffirmed a hold rating and issued a $127.00 target price (up from $117.00) on shares of Virtus Investment Partners in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $130.63.
Shares of Virtus Investment Partners (VRTS) opened at $131.40 on Tuesday. Virtus Investment Partners has a 1-year low of $97.60 and a 1-year high of $132.85. The firm has a market cap of $929.11, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 0.47 and a beta of 1.89.
Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, October 27th. The closed-end fund reported $2.30 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 11.64% and a return on equity of 12.75%. The business’s revenue was up 50.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. research analysts anticipate that Virtus Investment Partners will post 7.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.80 annualized dividend and a yield of 1.37%. Virtus Investment Partners’s dividend payout ratio is currently 35.16%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. acquired a new position in Virtus Investment Partners in the 3rd quarter valued at $204,000. Cubist Systematic Strategies LLC increased 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 valued at $209,000 after buying an additional 1,709 shares during the period. BNP Paribas Arbitrage SA increased its stake in Virtus Investment Partners by 52.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock valued at $275,000 after buying an additional 848 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Virtus Investment Partners by 73.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after buying an additional 1,150 shares during the period. Finally, Voya Investment Management LLC increased its stake in Virtus Investment Partners by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after buying an additional 427 shares during the period. 95.78% of the stock is currently owned by 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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