Virtus Investment Partners Inc. (VRTS) Stock Price Up 4.2%
Virtus Investment Partners Inc. (NASDAQ:VRTS) shares rose 4.2% during mid-day trading on Friday . The stock traded as high as $83.24 and last traded at $82.71, with a volume of 75,345 shares trading hands. The stock had previously closed at $79.34.
VRTS has been the subject of several recent analyst reports. Sandler O’Neill decreased their price objective on shares of Virtus Investment Partners from $91.00 to $71.00 in a report on Tuesday, April 12th. Zacks Investment Research cut shares of Virtus Investment Partners from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Finally, Credit Suisse Group AG upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.33.
The firm has a market capitalization of $676.49 million and a PE ratio of 25.59. The firm has a 50 day moving average price of $77.29 and a 200 day moving average price of $82.97.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, April 29th. The closed-end fund reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $80.30 million for the quarter, compared to analyst estimates of $81.08 million. During the same quarter in the previous year, the company earned $2.11 earnings per share. The company’s quarterly revenue was down 22.6% on a year-over-year basis. On average, equities analysts predict that Virtus Investment Partners Inc. will post $5.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, July 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.20%.
Other hedge funds and institutional investors recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in Virtus Investment Partners by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 12,648 shares of the closed-end fund’s stock worth $1,486,000 after buying an additional 145 shares during the period. Rhumbline Advisers boosted its position in Virtus Investment Partners by 3.4% in the fourth quarter. Rhumbline Advisers now owns 13,142 shares of the closed-end fund’s stock worth $1,544,000 after buying an additional 433 shares during the period. Matarin Capital Management LLC bought a new position in Virtus Investment Partners during the fourth quarter worth approximately $1,934,000. First Trust Advisors LP boosted its position in Virtus Investment Partners by 3.9% in the fourth quarter. First Trust Advisors LP now owns 24,959 shares of the closed-end fund’s stock worth $2,932,000 after buying an additional 941 shares during the period. Finally, New York State Common Retirement Fund boosted its position in Virtus Investment Partners by 9.1% in the fourth quarter. New York State Common Retirement Fund now owns 26,495 shares of the closed-end fund’s stock worth $3,112,000 after buying an additional 2,199 shares during the period.
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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