Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) is projected to announce its earnings results before the market opens on Friday, July 25th. Analysts expect the company to announce earnings of $6.17 per share and revenue of $191.90 million for the quarter.
Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $217.93 million for the quarter, compared to the consensus estimate of $201.99 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%. During the same quarter last year, the company posted $5.41 earnings per share. On average, analysts expect Virtus Investment Partners to post $28 EPS for the current fiscal year and $30 EPS for the next fiscal year.
Virtus Investment Partners Stock Performance
Shares of Virtus Investment Partners stock traded down $0.16 during midday trading on Monday, hitting $207.17. The company had a trading volume of 51,876 shares, compared to its average volume of 53,839. The stock has a market cap of $1.43 billion, a PE ratio of 12.26 and a beta of 1.44. Virtus Investment Partners has a 1-year low of $142.18 and a 1-year high of $252.82. The business's 50 day simple moving average is $182.02 and its two-hundred day simple moving average is $180.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 11.86 and a quick ratio of 11.86.
Virtus Investment Partners Dividend Announcement
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 issued 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 4.34%. Virtus Investment Partners's dividend payout ratio is 53.41%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 worth $681,000 after purchasing an additional 103 shares in the last quarter. Intech Investment Management LLC increased its stake in Virtus Investment Partners by 20.8% during the first quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund's stock worth $1,135,000 after acquiring an additional 1,134 shares during the last quarter. Jane Street Group LLC boosted its stake in Virtus Investment Partners by 57.4% during the first quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund's stock worth $2,679,000 after buying an additional 5,671 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Virtus Investment Partners by 10.8% in the first quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund's stock valued at $10,133,000 after buying an additional 5,734 shares in the last quarter. 80.52% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
VRTS has been the topic of a number of research analyst reports. Wall Street Zen upgraded Virtus Investment Partners from a "hold" rating to a "buy" rating in a research note on Monday, May 19th. Barclays raised their price objective on Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. TD Cowen decreased 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. Morgan Stanley set a $171.00 target price on Virtus Investment Partners and gave the stock an "underweight" rating in a research note on Wednesday, July 2nd. Finally, Piper Sandler raised their target price on Virtus Investment Partners from $211.00 to $234.00 and gave the stock an "overweight" rating in a research note on Monday. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $188.25.
Get Our Latest Report on VRTS
About Virtus Investment Partners
(
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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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