Virtus Investment Partners, Inc. (NASDAQ:VRTS) Declares $1.90 Quarterly Dividend

Virtus Investment Partners, Inc. (NASDAQ:VRTS) declared a quarterly dividend on Thursday, February 22nd, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be paid a dividend of 1.90 per share by the closed-end fund on Wednesday, May 15th. This represents a $7.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, April 29th.

Virtus Investment Partners has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Virtus Investment Partners to earn $29.45 per share next year, which means the company should continue to be able to cover its $7.60 annual dividend with an expected future payout ratio of 25.8%.

Virtus Investment Partners Price Performance

Shares of Virtus Investment Partners stock opened at $227.58 on Friday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 12.85 and a beta of 1.52. The stock’s 50-day moving average is $235.74 and its 200-day moving average is $221.52. Virtus Investment Partners has a one year low of $165.00 and a one year high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, February 2nd. The closed-end fund reported $6.11 EPS for the quarter, beating the consensus estimate of $5.96 by $0.15. The firm had revenue of $214.59 million for the quarter, compared to analysts’ expectations of $196.20 million. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. During the same quarter in the previous year, the business posted $5.17 EPS. On average, equities analysts expect that Virtus Investment Partners will post 27.04 EPS for the current year.

Analyst Ratings Changes

VRTS has been the subject of several recent research reports. Morgan Stanley increased their target price on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. TD Cowen cut Virtus Investment Partners from a “buy” rating to a “hold” rating and decreased their price objective for the company from $285.00 to $264.00 in a report on Monday, April 8th. Piper Sandler upped their target price on Virtus Investment Partners from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Finally, StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.