Shares of Virtus Investment Partners Inc (NASDAQ:VRTS) have been given an average rating of "Hold" by the eight research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $159.20.
VRTS has been the topic of several research reports. Bank of America lifted their target price on Virtus Investment Partners from $140.00 to $154.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Barclays lifted their target price on Virtus Investment Partners from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. They noted that the move was a valuation call. BidaskClub cut Virtus Investment Partners from a "buy" rating to a "hold" rating in a report on Thursday, September 10th. Morgan Stanley boosted their price objective on Virtus Investment Partners from $133.00 to $159.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 28th. Finally, Zacks Investment Research raised Virtus Investment Partners from a "hold" rating to a "buy" rating and set a $128.00 price objective on the stock in a research note on Tuesday, July 7th.
Shares of VRTS stock opened at $136.08 on Wednesday. Virtus Investment Partners has a 12-month low of $55.37 and a 12-month high of $148.24. The company has a current ratio of 32.42, a quick ratio of 32.42 and a debt-to-equity ratio of 0.35. The stock's 50-day moving average price is $139.23 and its 200-day moving average price is $107.99. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.70.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 24th. The closed-end fund reported $3.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $3.05 by $0.19. Virtus Investment Partners had a return on equity of 20.04% and a net margin of 9.48%. The firm had revenue of $118.08 million for the quarter, compared to analysts' expectations of $118.05 million. As a group, research analysts predict that Virtus Investment Partners will post 15.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.82 per share. This is a boost from Virtus Investment Partners's previous quarterly dividend of $0.67. This represents a $3.28 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 29th. Virtus Investment Partners's payout ratio is presently 18.11%.
In other Virtus Investment Partners news, EVP Francis G. Waltman sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $143.08, for a total transaction of $2,861,600.00. Insiders own 5.20% of the company's stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley grew its stake in shares of Virtus Investment Partners by 66.7% during the first quarter. Morgan Stanley now owns 75,107 shares of the closed-end fund's stock valued at $5,715,000 after buying an additional 30,039 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Virtus Investment Partners by 8.7% during the first quarter. Rhumbline Advisers now owns 27,354 shares of the closed-end fund's stock valued at $2,082,000 after buying an additional 2,194 shares during the last quarter. State Street Corp grew its stake in shares of Virtus Investment Partners by 10.2% during the first quarter. State Street Corp now owns 214,938 shares of the closed-end fund's stock valued at $16,359,000 after buying an additional 19,929 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Virtus Investment Partners by 11.2% during the first quarter. Legal & General Group Plc now owns 20,999 shares of the closed-end fund's stock valued at $1,598,000 after buying an additional 2,113 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Virtus Investment Partners by 109.3% during the first quarter. AQR Capital Management LLC now owns 39,919 shares of the closed-end fund's stock valued at $3,038,000 after buying an additional 20,848 shares during the last quarter. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
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.
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