Virtus Investment Partners (NASDAQ:VRTS - Free Report) had its price objective increased by Piper Sandler from $211.00 to $234.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the closed-end fund's stock.
VRTS has been the subject of several other reports. Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the company an "underweight" rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Barclays raised their target price on Virtus Investment Partners from $150.00 to $190.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Finally, TD Cowen lowered their target price on Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $188.25.
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Virtus Investment Partners Price Performance
Shares of VRTS stock traded up $0.36 during trading hours on Monday, hitting $214.34. 77,525 shares of the company's stock were exchanged, compared to its average volume of 70,139. The firm has a 50 day moving average of $184.12 and a two-hundred day moving average of $180.56. Virtus Investment Partners has a fifty-two week low of $142.18 and a fifty-two week high of $252.82. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.48 billion, a P/E ratio of 12.68 and a beta of 1.44.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 EPS for the quarter, beating the consensus estimate of $5.68 by $0.05. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. The firm had revenue of $217.93 million during the quarter, compared to the consensus estimate of $201.99 million. During the same period in the prior year, the company earned $5.41 EPS. Sell-side analysts forecast that Virtus Investment Partners will post 27.7 EPS for the current year.
Virtus Investment Partners Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a $2.25 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.20%. Virtus Investment Partners's dividend payout ratio (DPR) is presently 53.41%.
Institutional Trading of Virtus Investment Partners
Institutional investors have recently modified their holdings of the business. Hilltop National Bank purchased a new stake in shares of Virtus Investment Partners in the second quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its position in Virtus Investment Partners by 14,100.0% during the second quarter. Farther Finance Advisors LLC now owns 142 shares of the closed-end fund's stock worth $26,000 after purchasing an additional 141 shares in the last quarter. ST Germain D J Co. Inc. purchased a new stake in Virtus Investment Partners during the second quarter worth $31,000. Signaturefd LLC boosted its position in 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 purchasing an additional 85 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Virtus Investment Partners during the first quarter worth $93,000. 80.52% of the stock is currently owned by hedge funds and other institutional investors.
Virtus Investment Partners Company Profile
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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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