Virtus Investment Partners, Inc. (NASDAQ:VRTS) – Stock analysts at Jefferies Group dropped their FY2017 earnings per share estimates for shares of Virtus Investment Partners in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Thind now forecasts that the closed-end fund will post earnings per share of $7.59 for the year, down from their previous estimate of $7.81. Jefferies Group currently has a “Hold” rating and a $127.00 target price on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2017 earnings at $2.43 EPS, Q1 2018 earnings at $2.12 EPS, Q2 2018 earnings at $2.46 EPS, Q3 2018 earnings at $2.65 EPS, Q4 2018 earnings at $2.80 EPS, FY2018 earnings at $10.03 EPS and FY2019 earnings at $11.30 EPS.

Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). Virtus Investment Partners had a net margin of 16.59% and a return on equity of 14.32%. The firm had revenue of $123.70 million during the quarter, compared to analyst estimates of $116.85 million. During the same quarter last year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 50.3% on a year-over-year basis.

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Several other brokerages also recently issued reports on VRTS. Morgan Stanley set a $121.00 target price on shares of Virtus Investment Partners and gave the company a “hold” rating in a research note on Monday, October 23rd. Barclays PLC raised their target price on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 12th. Bank of America Corporation upgraded shares of Virtus Investment Partners from an “underperform” rating to a “neutral” rating and raised their target price for the company from $112.00 to $130.00 in a research note on Monday, October 9th. Finally, BidaskClub downgraded shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $130.50.

Shares of Virtus Investment Partners (VRTS) opened at $115.15 on Friday. Virtus Investment Partners has a one year low of $97.60 and a one year high of $128.10. The stock has a market cap of $824.25, a PE ratio of 16.50, a P/E/G ratio of 0.59 and a beta of 1.86.

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in Virtus Investment Partners by 17.7% during the second quarter. Goldman Sachs Group Inc. now owns 20,622 shares of the closed-end fund’s stock worth $2,288,000 after acquiring an additional 3,100 shares during the last quarter. Prudential Financial Inc. lifted its position in Virtus Investment Partners by 14.8% during the first quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock worth $1,188,000 after acquiring an additional 1,448 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Virtus Investment Partners during the second quarter worth approximately $579,000. Teachers Advisors LLC lifted its position in Virtus Investment Partners by 21.6% during the second quarter. Teachers Advisors LLC now owns 11,940 shares of the closed-end fund’s stock worth $1,325,000 after acquiring an additional 2,121 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Virtus Investment Partners by 8.3% during the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock worth $91,638,000 after acquiring an additional 63,155 shares during the last quarter. Hedge funds and other institutional investors own 96.32% 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.

Earnings History and Estimates for Virtus Investment Partners (NASDAQ:VRTS)

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