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, January 9th, MarketBeat reports. They currently have $130.00 price target on the closed-end fund’s stock.
Other analysts have also recently issued reports about the stock. Barclays upped 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. Morgan Stanley set a $121.00 price target on shares of Virtus Investment Partners and gave the stock a hold rating in a research report on Monday, October 23rd. TheStreet raised shares of Virtus Investment Partners from a c+ rating to a b rating in a research report on Thursday, November 30th. BidaskClub cut shares of Virtus Investment Partners from a hold rating to a sell rating in a research report on Wednesday, December 27th. Finally, Jefferies Group reaffirmed a hold rating and set a $127.00 price target (up from $117.00) on shares of Virtus Investment Partners in a research report on Tuesday, October 10th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Virtus Investment Partners currently has an average rating of Hold and an average price target of $132.13.
Shares of Virtus Investment Partners (NASDAQ VRTS) traded up $0.35 during midday trading on Tuesday, hitting $129.95. 68,874 shares of the stock traded hands, compared to its average volume of 53,226. Virtus Investment Partners has a one year low of $97.60 and a one year high of $134.65. The stock has a market cap of $930.18, a PE ratio of 32.90, a PEG ratio of 0.33 and a beta of 1.79.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.18. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The company had revenue of $128.00 million during the quarter, compared to analysts’ expectations of $127.09 million. During the same period in the previous year, the company earned $1.75 EPS. The business’s quarterly revenue was up 60.2% compared to the same quarter last year. analysts predict that Virtus Investment Partners will post 11.97 earnings per share for the current 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 given a $0.45 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.39%. Virtus Investment Partners’s payout ratio is currently 45.57%.
Large investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new position in Virtus Investment Partners in the 3rd quarter valued at about $204,000. Cubist Systematic Strategies LLC boosted its position 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 last quarter. BNP Paribas Arbitrage SA boosted its position 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 last quarter. Municipal Employees Retirement System of Michigan boosted its position 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 last quarter. Finally, Voya Investment Management LLC boosted its position 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 last quarter. 95.62% of the stock is owned by institutional investors.
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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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