Virtus Investment Partners Inc. (VRTS) Price Target Increased to $97.00 by Analysts at Jefferies Group
Virtus Investment Partners Inc. (NASDAQ:VRTS) had its price objective upped by Jefferies Group from $87.00 to $97.00 in a research report sent to investors on Tuesday. The brokerage currently has a hold rating on the closed-end fund’s stock.
Other equities analysts have also issued reports about the company. Credit Suisse Group AG upgraded Virtus Investment Partners from a neutral rating to an outperform rating and upped their target price for the stock from $90.00 to $91.00 in a research note on Thursday, July 14th. Zacks Investment Research lowered Virtus Investment Partners from a hold rating to a sell rating in a research note on Thursday, June 30th.
Virtus Investment Partners (NASDAQ:VRTS) traded up 0.437% during mid-day trading on Tuesday, reaching $98.288. The company had a trading volume of 17,708 shares. The firm has a market capitalization of $758.59 million, a P/E ratio of 32.016 and a beta of 1.79. The firm’s 50-day moving average is $94.02 and its 200-day moving average is $82.49. Virtus Investment Partners has a one year low of $66.12 and a one year high of $141.97.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 29th. The closed-end fund reported $1.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by $0.08. Virtus Investment Partners had a net margin of 7.80% and a return on equity of 9.37%. The company had revenue of $80.10 million for the quarter, compared to the consensus estimate of $78.86 million. During the same quarter in the previous year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was down 19.6% compared to the same quarter last year. On average, equities research analysts anticipate that Virtus Investment Partners will post $5.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 11th. Stockholders of record on Monday, October 31st will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, October 27th. This represents a $1.80 annualized dividend and a dividend yield of 1.84%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 57.88%.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 1,291 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Virtus Investment Partners by 87.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,052 shares of the closed-end fund’s stock valued at $146,000 after buying an additional 957 shares during the period. Loews Corp purchased a new position in shares of Virtus Investment Partners during the second quarter valued at approximately $205,000. BW Gestao de Investimentos Ltda. purchased a new position in shares of Virtus Investment Partners during the second quarter valued at approximately $345,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Virtus Investment Partners during the first quarter valued at approximately $375,000. Hedge funds and other institutional investors own 96.23% of the company’s stock.
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.
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