Virtus Investment Partners (VRTS) Expected to Announce Quarterly Earnings on Friday

Key Points

• Virtus Investment Partners is expected to report quarterly earnings before the market opens Friday, October 30. Analysts project earnings of $5.73 per share on revenue of approximately $181.36 million.
• The company raised its quarterly dividend to $2.45 per share, or $9.80 annualized, implying an approximately 8.0% yield. The dividend is payable November 13 to shareholders of record as of October 30.
• Analyst sentiment is broadly negative: Virtus has a consensus “Reduce” rating, with three sell ratings, one hold, and one buy, and a consensus price target of $129.75. Shares recently traded at $122.22, near their one-year low of $117.44.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) is expected to be posting its results before the market opens on Friday, October 30th. Analysts expect Virtus Investment Partners to announce earnings of $5.73 per share and revenue of $181.36 million for the quarter.

Virtus Investment Partners Stock Performance

Shares of NASDAQ:VRTS opened at $122.22 on Friday. The business's 50-day simple moving average is $143.10 and its 200 day simple moving average is $146.88. The company has a market cap of $809.46 million, a P/E ratio of 7.23 and a beta of 1.41. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners has a one year low of $117.44 and a one year high of $183.04.

Virtus Investment Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be given a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 8.0%. This is a positive change from Virtus Investment Partners's previous quarterly dividend of $2.40. The ex-dividend date of this dividend is Friday, October 30th. Virtus Investment Partners's dividend payout ratio is 55.84%.

Insider Transactions at Virtus Investment Partners

In related news, Director W. Morris sold 435 shares of Virtus Investment Partners stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total value of $60,286.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael A. Angerthal sold 14,975 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $167.34, for a total value of $2,505,916.50. Following the completion of the sale, the executive vice president directly owned 63,461 shares of the company's stock, valued at approximately $10,619,563.74. This represents a 19.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VRTS shares. TD Cowen dropped their price objective on shares of Virtus Investment Partners from $155.00 to $136.00 and set a "hold" rating on the stock in a research note on Monday, October 12th. Barclays reduced their target price on shares of Virtus Investment Partners from $135.00 to $117.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 14th. Piper Sandler decreased their target price on shares of Virtus Investment Partners from $172.00 to $146.00 and set an "overweight" rating for the company in a research note on Monday. Zacks Research lowered shares of Virtus Investment Partners from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 14th. Finally, Morgan Stanley dropped their price target on shares of Virtus Investment Partners from $130.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Virtus Investment Partners currently has a consensus rating of "Reduce" and a consensus price target of $129.75.

About Virtus Investment Partners

Virtus Investment Partners, Inc is an asset management company that provides investment products and services to individual and institutional investors. The company operates as a multi-boutique investment firm, partnering with affiliated and unaffiliated investment managers that offer specialized expertise across a range of asset classes and investment strategies.

Virtus distributes mutual funds, exchange-traded funds, separately managed accounts, closed-end funds and other investment solutions.

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