Virtus Investment Partners Inc (NASDAQ:VRTS) declared a quarterly dividend on Friday, February 16th, Wall Street Journal reports. Investors of record on Monday, April 30th will be paid a dividend of 0.45 per share by the closed-end fund on Tuesday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, April 27th.
Shares of Virtus Investment Partners (NASDAQ:VRTS) traded up $0.25 on Friday, reaching $126.00. 166,319 shares of the company traded hands, compared to its average volume of 69,340. Virtus Investment Partners has a fifty-two week low of $97.60 and a fifty-two week high of $134.65. The firm has a market capitalization of $901.19, a PE ratio of 31.84, a price-to-earnings-growth ratio of 0.28 and a beta of 1.79.
Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.18. Virtus Investment Partners had a net margin of 8.70% and a return on equity of 13.93%. The business had revenue of $128.00 million during the quarter, compared to analysts’ expectations of $127.09 million. During the same quarter in the prior year, the company posted $1.75 earnings per share. The firm’s revenue was up 60.2% on a year-over-year basis. equities research analysts forecast that Virtus Investment Partners will post 12.22 EPS for the current fiscal year.
Several research analysts recently commented on the stock. Sandler O’Neill set a $132.00 target price on shares of Virtus Investment Partners and gave the stock a “hold” rating in a report on Thursday, January 11th. TheStreet cut shares of Virtus Investment Partners from a “b” rating to a “c+” rating in a research note on Wednesday. Morgan Stanley set a $121.00 price target on shares of Virtus Investment Partners and gave the company a “hold” rating in a research note on Monday, October 23rd. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Finally, Barclays increased their price target on shares of Virtus Investment Partners from $133.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $139.00.
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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