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

Virtus Investment Partners, Inc. (NASDAQ:VRTSGet Free Report) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Shareholders of record on Wednesday, July 31st will be given a dividend of 1.90 per share by the closed-end fund on Thursday, August 15th. This represents a $7.60 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, July 31st.

Virtus Investment Partners has raised its dividend payment by an average of 34.3% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Virtus Investment Partners has a dividend payout ratio of 26.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Virtus Investment Partners to earn $28.77 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 26.4%.

Virtus Investment Partners Price Performance

NASDAQ VRTS opened at $233.29 on Friday. The stock has a market capitalization of $1.66 billion, a PE ratio of 14.05 and a beta of 1.50. The business has a 50 day simple moving average of $233.88 and a two-hundred day simple moving average of $226.75. Virtus Investment Partners has a 1-year low of $168.78 and a 1-year high of $263.39.

Virtus Investment Partners (NASDAQ:VRTSGet Free Report) last released its quarterly earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, meeting the consensus estimate of $5.41. The business had revenue of $200.24 million during the quarter, compared to analysts’ expectations of $203.54 million. Virtus Investment Partners had a return on equity of 19.61% and a net margin of 14.02%. On average, analysts anticipate that Virtus Investment Partners will post 26.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VRTS shares. Piper Sandler dropped their target price on Virtus Investment Partners from $275.00 to $265.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Morgan Stanley lifted their target price on 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 lifted their target price on Virtus Investment Partners from $245.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Finally, StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th.

Check Out Our Latest Analysis on Virtus Investment Partners

Virtus Investment Partners Company Profile

(Get Free Report)

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.

See Also

Dividend History for Virtus Investment Partners (NASDAQ:VRTS)

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