Virtus Investment Partners, Inc. (VRTS) Receives $123.83 Average Price Target from Brokerages

Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $129.33.

Several equities analysts recently commented on VRTS shares. Credit Suisse Group increased their target price on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Morgan Stanley set a $110.00 target price on shares of Virtus Investment Partners and gave the company a “hold” rating in a report on Monday, July 17th. BidaskClub raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $117.00 target price on shares of Virtus Investment Partners in a report on Friday, August 18th. Finally, ValuEngine lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Virtus Investment Partners by 8.3% during the 2nd quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after buying an additional 63,155 shares during the period. Vanguard Group Inc. boosted its position in Virtus Investment Partners by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock valued at $78,051,000 after buying an additional 55,871 shares during the period. Dimensional Fund Advisors LP boosted its position in Virtus Investment Partners by 23.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after buying an additional 90,422 shares during the period. Huber Capital Management LLC boosted its position in Virtus Investment Partners by 10.3% during the 2nd quarter. Huber Capital Management LLC now owns 437,985 shares of the closed-end fund’s stock valued at $48,594,000 after buying an additional 40,924 shares during the period. Finally, Royal Bank of Canada boosted its position in Virtus Investment Partners by 9.5% during the 2nd quarter. Royal Bank of Canada now owns 245,109 shares of the closed-end fund’s stock valued at $27,195,000 after buying an additional 21,362 shares during the period. 95.86% of the stock is owned by institutional investors and hedge funds.

Shares of Virtus Investment Partners (NASDAQ VRTS) traded up 0.49% during trading on Friday, hitting $122.75. 99,486 shares of the stock were exchanged. The stock’s 50 day moving average price is $111.14 and its 200 day moving average price is $109.09. Virtus Investment Partners has a 52 week low of $92.80 and a 52 week high of $128.10. The firm has a market capitalization of $885.89 million, a price-to-earnings ratio of 23.89 and a beta of 1.76.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The business had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. During the same period in the prior year, the business posted $1.24 EPS. Virtus Investment Partners’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities analysts predict that Virtus Investment Partners will post $7.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.45 per share. The ex-dividend date is Monday, October 30th. This represents a $1.80 annualized dividend and a yield of 1.47%. Virtus Investment Partners’s payout ratio is cu

Several equities analysts recently commented on VRTS shares. Credit Suisse Group increased their target price on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Morgan Stanley set a $110.00 target price on shares of Virtus Investment Partners and gave the company a “hold” rating in a report on Monday, July 17th. BidaskClub raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $117.00 target price on shares of Virtus Investment Partners in a report on Friday, August 18th. Finally, ValuEngine lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

WARNING: “Virtus Investment Partners, Inc. (VRTS) Receives $123.83 Average Price Target from Brokerages” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/virtus-investment-partners-inc-vrts-receives-123-83-average-price-target-from-brokerages.html.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Virtus Investment Partners by 8.3% during the 2nd quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after buying an additional 63,155 shares during the period. Vanguard Group Inc. boosted its position in Virtus Investment Partners by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock valued at $78,051,000 after buying an additional 55,871 shares during the period. Dimensional Fund Advisors LP boosted its position in Virtus Investment Partners by 23.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after buying an additional 90,422 shares during the period. Huber Capital Management LLC boosted its position in Virtus Investment Partners by 10.3% during the 2nd quarter. Huber Capital Management LLC now owns 437,985 shares of the closed-end fund’s stock valued at $48,594,000 after buying an additional 40,924 shares during the period. Finally, Royal Bank of Canada boosted its position in Virtus Investment Partners by 9.5% during the 2nd quarter. Royal Bank of Canada now owns 245,109 shares of the closed-end fund’s stock valued at $27,195,000 after buying an additional 21,362 shares during the period. 95.86% of the stock is owned by institutional investors and hedge funds.

Shares of Virtus Investment Partners (NASDAQ VRTS) traded up 0.49% during trading on Friday, hitting $122.75. 99,486 shares of the stock were exchanged. The stock’s 50 day moving average price is $111.14 and its 200 day moving average price is $109.09. Virtus Investment Partners has a 52 week low of $92.80 and a 52 week high of $128.10. The firm has a market capitalization of $885.89 million, a price-to-earnings ratio of 23.89 and a beta of 1.76.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The business had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. During the same period in the prior year, the business posted $1.24 EPS. Virtus Investment Partners’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities analysts predict that Virtus Investment Partners will post $7.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.45 per share. The ex-dividend date is Monday, October 30th. This represents a $1.80 annualized dividend and a yield of 1.47%. Virtus Investment Partners’s payout ratio is currently 35.02%.

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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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