Virtus Investment Partners Inc to Post Q2 2018 Earnings of $3.16 Per Share, Jefferies Group Forecasts (VRTS)

Virtus Investment Partners Inc (NASDAQ:VRTS) – Analysts at Jefferies Group lifted their Q2 2018 EPS estimates for Virtus Investment Partners in a research report issued on Thursday. Jefferies Group analyst S. Thind now anticipates that the closed-end fund will post earnings of $3.16 per share for the quarter, up from their prior estimate of $3.02. Jefferies Group also issued estimates for Virtus Investment Partners’ Q3 2018 earnings at $3.50 EPS, Q4 2018 earnings at $3.67 EPS, FY2018 earnings at $12.75 EPS and FY2019 earnings at $14.70 EPS.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, beating the 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 the consensus estimate of $127.09 million. During the same quarter last year, the firm posted $1.75 EPS. Virtus Investment Partners’s revenue was up 60.2% compared to the same quarter last year.

Several other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. Goldman Sachs Group raised shares of Virtus Investment Partners from a “sell” rating to a “neutral” rating and set a $130.00 price target for the company in a research report on Tuesday, January 9th. Morgan Stanley set a $121.00 price target on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Saturday, January 13th. Finally, Barclays lifted their price target on shares of Virtus Investment Partners from $116.00 to $125.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $139.00.

Shares of Virtus Investment Partners (VRTS) opened at $126.00 on Monday. Virtus Investment Partners has a 52-week low of $97.60 and a 52-week high of $134.65. The stock has a market cap of $901.91, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.28 and a beta of 1.79.

The business also recently disclosed 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. This represents a $1.80 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, April 27th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 45.57%.

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in Virtus Investment Partners by 17.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 20,622 shares of the closed-end fund’s stock valued at $2,288,000 after acquiring an additional 3,100 shares in the last quarter. State Street Corp lifted its stake in Virtus Investment Partners by 6.8% during the 2nd quarter. State Street Corp now owns 154,490 shares of the closed-end fund’s stock valued at $17,136,000 after acquiring an additional 9,784 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in Virtus Investment Partners by 73.2% during 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 acquiring an additional 1,150 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Virtus Investment Partners by 7.8% during the 3rd quarter. Principal Financial Group Inc. now owns 54,432 shares of the closed-end fund’s stock valued at $6,317,000 after acquiring an additional 3,932 shares in the last quarter. Finally, BlackRock Inc. lifted its stake 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 acquiring an additional 63,155 shares in the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

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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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