TheStreet upgraded shares of Virtus Investment Partners Inc. (NASDAQ:VRTS) from a hold rating to a buy rating in a research report report published on Thursday morning.

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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