Virtus Investment Partners (VRTS) to Release Earnings on Friday

Key Points

• Earnings: Virtus will report before the open on Friday, April 24, with analysts forecasting $5.15 EPS and $183.62 million in revenue for the quarter.
• Dividend: The firm declared a $2.40 quarterly dividend (annualized $9.60) with an ex-dividend/record date of April 30 and payment on May 13, implying a 6.8% yield and a ~48% payout ratio.
• Stock & analyst view: Shares traded around $140.57 with a market cap of ~$939M and a P/E of 8.3, while analysts' consensus is a "Reduce" rating with an average target of $161.50 (mixed ratings: 1 Buy, 2 Hold, 2 Sell).

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) is projected to release its results before the market opens on Friday, April 24th. Analysts expect Virtus Investment Partners to post earnings of $5.15 per share and revenue of $183.6210 million for the quarter.

Virtus Investment Partners Stock Performance

Shares of VRTS opened at $140.57 on Friday. The stock has a 50 day moving average price of $135.50 and a 200 day moving average price of $156.96. 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 company has a market capitalization of $939.29 million, a price-to-earnings ratio of 8.32 and a beta of 1.47. Virtus Investment Partners has a 52-week low of $121.61 and a 52-week high of $215.06.

Virtus Investment Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Thursday, April 30th will be issued a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Thursday, April 30th. Virtus Investment Partners's dividend payout ratio is 48.02%.

Analyst Ratings Changes

VRTS has been the subject of a number of research analyst reports. TD Cowen lowered their price target on Virtus Investment Partners from $180.00 to $173.00 and set a "hold" rating for the company in a report on Wednesday, January 14th. Barclays reaffirmed an "underweight" rating and issued a $142.00 price target on shares of Virtus Investment Partners in a report on Monday, February 9th. Piper Sandler lowered their price target on Virtus Investment Partners from $218.00 to $206.00 and set an "overweight" rating for the company in a report on Wednesday, February 4th. Morgan Stanley lowered their price target on Virtus Investment Partners from $155.00 to $125.00 and set an "underweight" rating for the company in a report on Wednesday, April 1st. Finally, Zacks Research raised Virtus Investment Partners from a "strong sell" rating to a "hold" rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price of $161.50.

Insider Buying and Selling at Virtus Investment Partners

In other news, Director W Howard Morris acquired 2,150 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $129.34 per share, with a total value of $278,081.00. Following the completion of the acquisition, the director owned 2,000 shares of the company's stock, valued at $258,680. The trade was a -1,433.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Virtus Investment Partners

Institutional investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd increased its holdings in shares of Virtus Investment Partners by 269.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 307 shares of the closed-end fund's stock valued at $50,000 after acquiring an additional 224 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Virtus Investment Partners by 90.4% in the 2nd quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund's stock valued at $57,000 after acquiring an additional 150 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Virtus Investment Partners by 24.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 499 shares of the closed-end fund's stock valued at $81,000 after acquiring an additional 97 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Virtus Investment Partners by 117.0% in the 4th quarter. Advisors Asset Management Inc. now owns 588 shares of the closed-end fund's stock valued at $96,000 after acquiring an additional 317 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Virtus Investment Partners in the 2nd quarter valued at approximately $147,000. 80.52% of the stock is currently owned by institutional investors.

Virtus Investment Partners Company Profile

Virtus Investment Partners NASDAQ: VRTS is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company's product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.