Sandler O’Neill restated their hold rating on shares of Virtus Investment Partners (NASDAQ:VRTS) in a report issued on Thursday morning. The firm currently has a $142.00 target price on the closed-end fund’s stock.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Virtus Investment Partners from a hold rating to a buy rating and set a $147.00 price target on the stock in a report on Thursday. BidaskClub upgraded Virtus Investment Partners from a hold rating to a buy rating in a report on Friday, March 9th. TheStreet cut Virtus Investment Partners from a b rating to a c+ rating in a research note on Wednesday, February 14th. Morgan Stanley increased their price objective on Virtus Investment Partners from $127.00 to $136.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Finally, Credit Suisse Group increased their price objective on Virtus Investment Partners from $166.00 to $173.00 and gave the stock an outperform rating in a research note on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Virtus Investment Partners currently has an average rating of Hold and a consensus target price of $140.63.
Shares of VRTS stock opened at $132.05 on Thursday. The company has a quick ratio of 17.17, a current ratio of 17.17 and a debt-to-equity ratio of 0.50. Virtus Investment Partners has a fifty-two week low of $97.60 and a fifty-two week high of $135.90. The firm has a market capitalization of $946.97, a P/E ratio of 17.22, a PEG ratio of 0.29 and a beta of 1.74.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.18. Virtus Investment Partners had a return on equity of 13.75% and a net margin of 8.70%. The firm had revenue of $128.00 million for the quarter, compared to the consensus estimate of $127.09 million. During the same period in the prior year, the business posted $1.75 earnings per share. The company’s revenue for the quarter was up 60.2% on a year-over-year basis. research analysts anticipate that Virtus Investment Partners will post 12.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Monday, April 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.80 annualized dividend and a yield of 1.36%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 45.57%.
A number of large investors have recently made changes to their positions in VRTS. Crossmark Global Holdings Inc. bought a new position in Virtus Investment Partners in the third quarter worth approximately $204,000. Cubist Systematic Strategies LLC grew its stake in Virtus Investment Partners by 1,798.9% in the third quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock worth $209,000 after purchasing an additional 1,709 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Virtus Investment Partners during the 4th quarter valued at $287,000. Municipal Employees Retirement System of Michigan boosted its position 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. Finally, MetLife Investment Advisors LLC bought a new stake in Virtus Investment Partners during the 4th quarter valued at $373,000. 95.81% of the stock is currently owned by institutional investors.
Virtus Investment Partners Company Profile
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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