BidaskClub cut shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) from a hold rating to a sell rating in a research report released on Monday.

Several other equities analysts have also recently issued reports on the stock. Credit Suisse Group upped their target price on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the company a neutral rating in a research note on Tuesday, August 8th. Morgan Stanley set a $110.00 price objective on shares of Virtus Investment Partners and gave the stock a hold rating in a research note on Monday, July 17th. Zacks Investment Research cut shares of Virtus Investment Partners from a buy rating to a hold rating in a research note on Wednesday, June 14th. Finally, Jefferies Group LLC set a $110.00 price objective on shares of Virtus Investment Partners and gave the stock a hold rating in a research note on Sunday, April 30th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $119.80.

Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at 110.20 on Monday. The stock has a market cap of $795.31 million, a P/E ratio of 21.44 and a beta of 1.72. The company’s 50-day moving average is $113.82 and its 200-day moving average is $108.52. Virtus Investment Partners has a 12-month low of $87.03 and a 12-month high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.05. The company had revenue of $94.10 million for the quarter, compared to the consensus estimate of $91.78 million. Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. Virtus Investment Partners’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.24 EPS. On average, equities research analysts anticipate that Virtus Investment Partners will post $7.62 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Thursday, July 27th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 35.02%.

Several institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of Virtus Investment Partners by 0.8% in the second quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock valued at $856,000 after buying an additional 58 shares during the period. California State Teachers Retirement System boosted its position in shares of Virtus Investment Partners by 17.8% in the second quarter. California State Teachers Retirement System now owns 11,921 shares of the closed-end fund’s stock valued at $1,323,000 after buying an additional 1,800 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Virtus Investment Partners by 40.6% in the second quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the closed-end fund’s stock valued at $594,000 after buying an additional 1,544 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of Virtus Investment Partners during the second quarter valued at $330,000. Finally, State Street Corp boosted its position in shares of Virtus Investment Partners by 6.8% in the second quarter. State Street Corp now owns 154,490 shares of the closed-end fund’s stock valued at $17,136,000 after buying an additional 9,784 shares during the period. Hedge funds and other institutional investors own 94.51% of the company’s stock.

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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