Q3 2016 Earnings Estimate for Virtus Investment Partners Inc. Issued By Jefferies Group (VRTS)
Virtus Investment Partners Inc. (NASDAQ:VRTS) – Equities research analysts at Jefferies Group boosted their Q3 2016 EPS estimates for Virtus Investment Partners in a research report issued to clients and investors on Tuesday. Jefferies Group analyst S. Thind now forecasts that the brokerage will post earnings of $1.51 per share for the quarter, up from their prior estimate of $1.47. Jefferies Group currently has a “Hold” rating and a $97.00 target price on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2016 earnings at $1.53 EPS, FY2016 earnings at $5.37 EPS and FY2017 earnings at $6.25 EPS.
VRTS has been the subject of several other research reports. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group AG upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $90.00 to $91.00 in a research note on Thursday, July 14th.
Virtus Investment Partners (NASDAQ:VRTS) opened at 96.25 on Wednesday. The stock’s 50 day moving average price is $94.47 and its 200 day moving average price is $82.70. The firm has a market capitalization of $742.86 million, a PE ratio of 31.35 and a beta of 1.79. Virtus Investment Partners has a one year low of $66.12 and a one year high of $141.97.
Virtus Investment Partners (NASDAQ:VRTS) last issued its earnings results on Friday, July 29th. The closed-end fund reported $1.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The company had revenue of $80.10 million for the quarter, compared to analyst estimates of $78.86 million. Virtus Investment Partners had a return on equity of 9.37% and a net margin of 7.80%. The company’s revenue for the quarter was down 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Virtus Investment Partners by 260.8% in the second quarter. BlackRock Inc. now owns 1,786 shares of the closed-end fund’s stock valued at $127,000 after buying an additional 1,291 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Virtus Investment Partners by 87.4% in the second quarter. BNP Paribas Arbitrage SA now owns 2,052 shares of the closed-end fund’s stock valued at $146,000 after buying an additional 957 shares during the period. Loews Corp purchased a new stake in Virtus Investment Partners during the second quarter valued at about $205,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Virtus Investment Partners during the first quarter valued at about $375,000. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in Virtus Investment Partners during the second quarter valued at about $345,000. Institutional investors and hedge funds own 96.23% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 11th. Investors of record on Monday, October 31st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.80 annualized dividend and a dividend yield of 1.87%. Virtus Investment Partners’s payout ratio is 57.88%.
About Virtus Investment Partners
Virtus Investment Partners, Inc is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.
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