Sandler O’Neill reissued their hold rating on shares of Virtus Investment Partners (NASDAQ:VRTS) in a research note published on Thursday, March 15th. They currently have a $142.00 price target on the closed-end fund’s stock.
A number of other research analysts have also weighed in on VRTS. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a buy rating and set a $145.00 price objective on the stock in a report on Saturday, January 13th. BidaskClub lowered Virtus Investment Partners from a buy rating to a hold rating in a report on Friday, January 26th. Barclays raised their target price on Virtus Investment Partners from $133.00 to $140.00 and gave the stock an equal weight rating in a report on Monday, February 5th. TheStreet lowered Virtus Investment Partners from a b rating to a c+ rating in a report on Wednesday, February 14th. Finally, Goldman Sachs raised Virtus Investment Partners from a sell rating to a neutral rating and set a $130.00 target price on the stock in a report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Virtus Investment Partners currently has an average rating of Hold and a consensus price target of $140.63.
VRTS opened at $124.50 on Thursday. Virtus Investment Partners has a 52-week low of $97.60 and a 52-week high of $135.90. The firm has a market cap of $903.94, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 0.28 and a beta of 1.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 17.17 and a quick ratio of 17.17.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.18. The business had revenue of $128.00 million during the quarter, compared to analysts’ expectations of $127.09 million. Virtus Investment Partners had a return on equity of 13.75% and a net margin of 8.70%. The business’s revenue for the quarter was up 60.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.75 EPS. research analysts forecast that Virtus Investment Partners will post 12.36 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, April 27th. This represents a $1.80 annualized dividend and a yield of 1.45%. Virtus Investment Partners’s dividend payout ratio (DPR) is 23.44%.
A number of hedge funds have recently bought and sold shares of VRTS. Point72 Asset Management L.P. increased its stake in Virtus Investment Partners by 2,031.4% during the third quarter. Point72 Asset Management L.P. now owns 74,600 shares of the closed-end fund’s stock worth $8,657,000 after acquiring an additional 71,100 shares during the last quarter. WCM Investment Management CA grew its stake in shares of Virtus Investment Partners by 494.8% in the fourth quarter. WCM Investment Management CA now owns 55,076 shares of the closed-end fund’s stock valued at $6,336,000 after buying an additional 45,817 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Virtus Investment Partners by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 174,866 shares of the closed-end fund’s stock valued at $20,302,000 after buying an additional 42,139 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Virtus Investment Partners by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 475,167 shares of the closed-end fund’s stock valued at $55,143,000 after buying an additional 23,679 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Virtus Investment Partners by 155.4% in the fourth quarter. Renaissance Technologies LLC now owns 31,229 shares of the closed-end fund’s stock valued at $3,593,000 after buying an additional 19,000 shares in the last quarter. 95.81% 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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