Virtus Investment Partners, Inc. (VRTS) Receives $130.00 Consensus Price Target from Brokerages
Shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) have received a consensus rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $130.00.
Several equities analysts recently commented on VRTS shares. Morgan Stanley reissued an “equal weight” rating and issued a $114.00 price objective (up previously from $105.00) on shares of Virtus Investment Partners in a research note on Monday, July 10th. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Credit Suisse Group upgraded shares of Virtus Investment Partners from a “neutral” rating to an “outperform” rating and upped their price target for the company from $141.00 to $147.00 in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and issued a $117.00 price target on shares of Virtus Investment Partners in a research report on Friday, August 18th. Finally, ValuEngine cut shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
Institutional investors and hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Virtus Investment Partners by 14.8% during the first quarter. Prudential Financial Inc. now owns 11,218 shares of the closed-end fund’s stock worth $1,188,000 after buying an additional 1,448 shares during the period. Marshall Wace North America L.P. acquired a new stake in Virtus Investment Partners in the second quarter worth $579,000. Mangrove Partners acquired a new stake in Virtus Investment Partners in the second quarter worth $4,985,000. UBS Group AG grew its holdings in Virtus Investment Partners by 62.8% in the first quarter. UBS Group AG now owns 15,717 shares of the closed-end fund’s stock worth $1,664,000 after purchasing an additional 6,065 shares during the period. Finally, Citadel Advisors LLC grew its holdings in Virtus Investment Partners by 8.7% in the second quarter. Citadel Advisors LLC now owns 191,116 shares of the closed-end fund’s stock worth $21,204,000 after purchasing an additional 15,310 shares during the period. Institutional investors own 95.55% of the company’s stock.
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Virtus Investment Partners (NASDAQ:VRTS) traded up $1.85 during trading hours on Wednesday, hitting $116.25. 29,398 shares of the stock were exchanged, compared to its average volume of 48,210. The stock has a market capitalization of $847.38, a PE ratio of 17.21, a P/E/G ratio of 0.61 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 19.32 and a current ratio of 19.32.
Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, October 27th. The closed-end fund reported $2.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). The company had revenue of $123.70 million during the quarter, compared to the consensus estimate of $116.85 million. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 13.33%. Virtus Investment Partners’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 EPS. analysts predict that Virtus Investment Partners will post 7.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 33.58%.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc (Virtus) 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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