Virtus Investment Partners, Inc. (NASDAQ:VRTS - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 40,042 shares changed hands during mid-day trading, a decline of 1% from the previous session's volume of 40,440 shares.The stock last traded at $170.78 and had previously closed at $171.22.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on VRTS. Piper Sandler cut their price target on Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays set a $150.00 target price on shares of Virtus Investment Partners and gave the company an "underweight" rating in a research report on Monday, April 28th. Morgan Stanley boosted their price objective on shares of Virtus Investment Partners from $149.00 to $152.00 and gave the company an "underweight" rating in a research report on Tuesday, May 6th. TD Cowen cut their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $167.75.
View Our Latest Research Report on VRTS
Virtus Investment Partners Stock Up 1.0%
The company has a market capitalization of $1.18 billion, a P/E ratio of 10.06 and a beta of 1.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The firm's fifty day moving average is $162.30 and its 200-day moving average is $191.92.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The closed-end fund reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.68 by $0.05. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. The firm had revenue of $217.93 million during the quarter, compared to the consensus estimate of $201.99 million. During the same quarter last year, the firm earned $5.41 earnings per share. As a group, equities research analysts predict that Virtus Investment Partners, Inc. will post 27.7 EPS for the current year.
Virtus Investment Partners Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Thursday, July 31st. Virtus Investment Partners's dividend payout ratio is presently 53.41%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Virtus Investment Partners by 30.2% during the first quarter. Signaturefd LLC now owns 366 shares of the closed-end fund's stock worth $63,000 after buying an additional 85 shares during the period. Handelsbanken Fonder AB boosted its position in Virtus Investment Partners by 8.3% during the fourth quarter. Handelsbanken Fonder AB now owns 1,300 shares of the closed-end fund's stock valued at $287,000 after acquiring an additional 100 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Virtus Investment Partners by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund's stock valued at $681,000 after acquiring an additional 103 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Virtus Investment Partners by 170.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 200 shares of the closed-end fund's stock worth $44,000 after purchasing an additional 126 shares in the last quarter. Finally, Man Group plc increased its stake in shares of Virtus Investment Partners by 0.5% in the 4th quarter. Man Group plc now owns 29,390 shares of the closed-end fund's stock valued at $6,483,000 after acquiring an additional 146 shares in the last quarter. Institutional investors own 80.52% of the company's stock.
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.
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