BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a buy rating in a research note released on Wednesday, BidAskClub reports.
VRTS has been the subject of several other research reports. Bank of America dropped their price objective on Virtus Investment Partners from $103.00 to $74.00 and set a buy rating for the company in a report on Monday, March 23rd. Morgan Stanley increased their price objective on Virtus Investment Partners from $90.00 to $128.00 and gave the stock an equal weight rating in a report on Thursday, July 2nd. Barclays raised their target price on Virtus Investment Partners from $105.00 to $118.00 and gave the company an overweight rating in a research note on Monday, June 15th. Finally, Zacks Investment Research upgraded Virtus Investment Partners from a hold rating to a buy rating and set a $128.00 target price for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $136.60.
NASDAQ VRTS opened at $122.03 on Wednesday. Virtus Investment Partners has a fifty-two week low of $55.37 and a fifty-two week high of $141.79. The stock has a 50 day simple moving average of $108.34 and a two-hundred day simple moving average of $105.18. The stock has a market cap of $952.18 million, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.02 and a beta of 1.65.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, May 1st. The closed-end fund reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.20. Virtus Investment Partners had a return on equity of 22.11% and a net margin of 12.06%. The business had revenue of $127.11 million during the quarter, compared to analysts’ expectations of $120.39 million. Equities analysts forecast that Virtus Investment Partners will post 13.74 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, July 30th. Virtus Investment Partners’s payout ratio is presently 18.11%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Virtus Investment Partners by 10.2% during the first quarter. State Street Corp now owns 214,938 shares of the closed-end fund’s stock valued at $16,359,000 after buying an additional 19,929 shares during the last quarter. Royal Bank of Canada raised its stake in Virtus Investment Partners by 3.5% during the first quarter. Royal Bank of Canada now owns 141,237 shares of the closed-end fund’s stock valued at $10,750,000 after buying an additional 4,758 shares during the last quarter. Morgan Stanley raised its stake in Virtus Investment Partners by 66.7% during the first quarter. Morgan Stanley now owns 75,107 shares of the closed-end fund’s stock valued at $5,715,000 after buying an additional 30,039 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in Virtus Investment Partners during the first quarter valued at $5,607,000. Finally, Advisor Group Holdings Inc. purchased a new position in Virtus Investment Partners during the first quarter valued at $102,000. Institutional investors own 82.18% of the company’s stock.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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