Virtus Investment Partners Inc. (VRTS) Raised to Buy at TheStreet
Other analysts have also issued reports about the stock. Jefferies Group increased their price target on shares of Virtus Investment Partners from $87.00 to $97.00 and gave the stock a hold rating in a research report on Tuesday, October 11th. Zacks Investment Research raised shares of Virtus Investment Partners from a sell rating to a hold rating in a research report on Wednesday, August 10th. Finally, Credit Suisse Group AG raised shares of Virtus Investment Partners from a neutral rating to an outperform rating and increased their price target for the stock from $90.00 to $91.00 in a research report on Thursday, July 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Virtus Investment Partners has an average rating of Hold and an average price target of $97.00.
Virtus Investment Partners (NASDAQ:VRTS) opened at 110.25 on Thursday. The stock has a market capitalization of $839.00 million, a P/E ratio of 21.53 and a beta of 1.77. The stock has a 50 day moving average of $100.04 and a 200 day moving average of $87.45. Virtus Investment Partners has a 52 week low of $66.12 and a 52 week high of $141.97.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 28th. The closed-end fund reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.16. The business earned $82.30 million during the quarter, compared to analyst estimates of $80.77 million. Virtus Investment Partners had a net margin of 12.99% and a return on equity of 9.15%. The firm’s revenue was down 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. On average, equities research analysts predict that Virtus Investment Partners will post $5.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 11th. Shareholders of record on Monday, October 31st were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, October 27th. This represents a $1.80 annualized dividend and a yield of 1.63%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 34.82%.
In other Virtus Investment Partners news, major shareholder Of Montreal /Can/ Bank sold 1,727,746 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $93.50, for a total transaction of $161,544,251.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. increased its position in shares of 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 period. Marcato Capital Management LP increased its position in shares of Virtus Investment Partners by 28.6% in the first quarter. Marcato Capital Management LP now owns 59,305 shares of the closed-end fund’s stock valued at $4,632,000 after buying an additional 13,200 shares during the period. BNP Paribas Arbitrage SA increased 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. Bank of Montreal Can bought a new position in shares of Virtus Investment Partners during the second quarter valued at approximately $124,561,000. Finally, First Trust Advisors LP increased its position in shares of Virtus Investment Partners by 276.4% in the second quarter. First Trust Advisors LP now owns 12,912 shares of the closed-end fund’s stock valued at $919,000 after buying an additional 9,482 shares during the period. 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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