Morgan Stanley set a $123.00 target price on Virtus Investment Partners, Inc. (NASDAQ:VRTS) in a report issued on Thursday. The firm currently has an equal weight rating on the closed-end fund’s stock.

Several other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Virtus Investment Partners from a hold rating to a strong-buy rating and set a $133.00 target price for the company in a research note on Thursday, September 28th. Barclays PLC began coverage on shares of Virtus Investment Partners in a research note on Friday, September 8th. They issued an equal weight rating and a $113.00 target price for the company. ValuEngine downgraded shares of Virtus Investment Partners from a buy rating to a hold rating in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a hold rating and issued a $117.00 target price on shares of Virtus Investment Partners in a research note on Friday, August 18th. Finally, BidaskClub downgraded shares of Virtus Investment Partners from a hold rating to a sell rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $123.83.

Virtus Investment Partners (VRTS) traded up 0.33% on Thursday, reaching $120.45. 43,276 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $110.29 and its 200 day moving average price is $108.74. The firm has a market capitalization of $869.29 million, a PE ratio of 23.44 and a beta of 1.76. Virtus Investment Partners has a 52-week low of $92.80 and a 52-week high of $128.10.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 28th. The closed-end fund reported $1.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The firm had revenue of $94.10 million during the quarter, compared to the consensus estimate of $91.78 million. During the same period in the previous year, the company posted $1.24 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts predict that Virtus Investment Partners will post $7.64 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 35.02%.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Virtus Investment Partners by 8.3% in the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after purchasing an additional 63,155 shares in the last quarter. Vanguard Group Inc. grew its position in Virtus Investment Partners by 8.6% in the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock valued at $78,051,000 after purchasing an additional 55,871 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Virtus Investment Partners by 23.6% in the first quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after purchasing an additional 90,422 shares in the last quarter. Huber Capital Management LLC grew its position in Virtus Investment Partners by 10.3% in the second quarter. Huber Capital Management LLC now owns 437,985 shares of the closed-end fund’s stock valued at $48,594,000 after purchasing an additional 40,924 shares in the last quarter. Finally, Royal Bank of Canada grew its position in Virtus Investment Partners by 9.5% in the second quarter. Royal Bank of Canada now owns 245,109 shares of the closed-end fund’s stock valued at $27,195,000 after purchasing an additional 21,362 shares in the last quarter. 95.86% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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