Virtus Investment Partners Inc. (NASDAQ:VRTS) – Equities research analysts at Jefferies Group lifted their Q3 2016 EPS estimates for Virtus Investment Partners in a research note issued to investors on Tuesday. Jefferies Group analyst S. Thind now forecasts that the firm will post earnings of $1.51 per share for the quarter, up from their prior estimate of $1.47. Jefferies Group has a “Hold” rating and a $97.00 price target on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2016 earnings at $1.53 EPS, FY2016 earnings at $5.37 EPS and FY2017 earnings at $6.25 EPS.

Several other analysts have also recently issued reports on the stock. Credit Suisse Group AG raised shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $90.00 to $91.00 in a research note on Thursday, July 14th. Zacks Investment Research raised shares of Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective for the company in a research note on Wednesday, August 31st.

Earnings History and Estimates for Virtus Investment Partners (NASDAQ:VRTS)

Virtus Investment Partners (NASDAQ:VRTS) traded up 0.41% on Wednesday, hitting $98.26. The company’s stock had a trading volume of 22,833 shares. The firm has a 50 day moving average of $94.02 and a 200 day moving average of $82.49. Virtus Investment Partners has a 12 month low of $66.12 and a 12 month high of $141.97. The firm has a market cap of $758.37 million, a price-to-earnings ratio of 32.01 and a beta of 1.79.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by $0.08. Virtus Investment Partners had a return on equity of 9.37% and a net margin of 7.80%. The firm had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $78.86 million. During the same quarter last year, the company posted $2.21 EPS. The firm’s revenue was down 19.6% on a year-over-year basis.

A number of institutional investors have recently bought and sold shares of VRTS. Schwab Charles Investment Management Inc. raised its position in Virtus Investment Partners by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,046 shares of the closed-end fund’s stock valued at $1,570,000 after buying an additional 294 shares during the last quarter. Prudential Financial Inc. raised its position in Virtus Investment Partners by 1.9% in the first quarter. Prudential Financial Inc. now owns 16,308 shares of the closed-end fund’s stock valued at $1,274,000 after buying an additional 300 shares during the last quarter. Alliancebernstein L.P. raised its position in Virtus Investment Partners by 2.7% in the second quarter. Alliancebernstein L.P. now owns 11,523 shares of the closed-end fund’s stock valued at $820,000 after buying an additional 300 shares during the last quarter. Ameriprise Financial Inc. raised its position in Virtus Investment Partners by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 31,530 shares of the closed-end fund’s stock valued at $2,244,000 after buying an additional 423 shares during the last quarter. Finally, BlackRock Group LTD raised its position in Virtus Investment Partners by 5.5% in the second quarter. BlackRock Group LTD now owns 8,639 shares of the closed-end fund’s stock valued at $615,000 after buying an additional 448 shares during the last quarter. Institutional investors own 96.23% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 11th. Shareholders of record on Monday, October 31st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.80 annualized dividend and a yield of 1.84%. Virtus Investment Partners’s payout ratio is 57.88%.

About Virtus Investment Partners

Virtus Investment Partners, Inc 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.

5 Day Chart for NASDAQ:VRTS

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