Virtus Investment Partners, Inc. (VRTS) Price Target Raised to $116.00 at Barclays PLC

Virtus Investment Partners, Inc. (NASDAQ:VRTS) had its price objective raised by Barclays PLC from $113.00 to $116.00 in a research report sent to investors on Tuesday morning. They currently have an equal weight rating on the closed-end fund’s stock.

A number of other equities analysts have also issued reports on VRTS. Morgan Stanley set a $110.00 target price on shares of Virtus Investment Partners and gave the company a hold rating in a research report on Monday, July 17th. Credit Suisse Group upgraded shares of Virtus Investment Partners from a neutral rating to an outperform rating and increased their target price for the company from $141.00 to $147.00 in a research report on Monday, July 31st. BidaskClub upgraded shares of Virtus Investment Partners from a hold rating to a buy rating in a research report on Sunday, July 16th. ValuEngine lowered shares of Virtus Investment Partners from a buy rating to a hold rating in a research report on Friday, September 1st. Finally, Bank of America Corporation upgraded shares of Virtus Investment Partners from an underperform rating to a neutral rating and increased their target price for the company from $112.00 to $130.00 in a research report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company’s stock. Virtus Investment Partners presently has an average rating of Hold and an average target price of $129.33.

Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at 122.75 on Tuesday. The stock has a 50 day moving average of $111.61 and a 200 day moving average of $109.24. Virtus Investment Partners has a one year low of $92.80 and a one year high of $128.10. The stock has a market cap of $885.89 million, a P/E ratio of 23.89 and a beta of 1.76.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.66 by ($0.05). Virtus Investment Partners had a return on equity of 11.35% and a net margin of 12.13%. The firm had revenue of $94.10 million during the quarter, compared to analyst estimates of $91.78 million. During the same period last year, the business earned $1.24 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. Equities analysts expect that Virtus Investment Partners will post $7.63 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be given a $0.45 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.47%. Virtus Investment Partners’s dividend payout ratio is presently 35.02%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its position in Virtus Investment Partners by 83.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,305 shares of the closed-end fund’s stock valued at $144,000 after buying an additional 595 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Virtus Investment Partners by 14.8% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 1,470 shares of the closed-end fund’s stock valued at $156,000 after purchasing an additional 190 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Virtus Investment Partners by 23.9% during the 1st quarter. Mason Street Advisors LLC now owns 1,515 shares of the closed-end fund’s stock valued at $160,000 after purchasing an additional 292 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Virtus Investment Partners by 17.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,627 shares of the closed-end fund’s stock valued at $172,000 after purchasing an additional 244 shares in the last quarter. Finally, Aperio Group LLC bought a new position in shares of Virtus Investment Partners during the 2nd quarter valued at about $205,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

About Virtus Investment Partners

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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