Virtus Investment Partners (VRTS) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Several other equities analysts have also recently issued reports on VRTS. Morgan Stanley set a $123.00 price objective on Virtus Investment Partners and gave the stock an equal weight rating in a research note on Thursday, October 5th. Barclays raised their price objective on Virtus Investment Partners from $116.00 to $125.00 and gave the stock an equal weight rating in a research note on Monday, October 30th. TheStreet upgraded Virtus Investment Partners from a c+ rating to a b rating in a research note on Thursday, November 30th. Zacks Investment Research cut Virtus Investment Partners from a strong-buy rating to a hold rating in a research note on Thursday, October 12th. Finally, Bank of America upgraded Virtus Investment Partners from an underperform rating to a neutral rating and raised their price objective for the stock from $112.00 to $130.00 in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $130.63.

Virtus Investment Partners (VRTS) opened at $131.40 on Tuesday. The company has a market capitalization of $929.11, a P/E ratio of 25.66, a PEG ratio of 0.47 and a beta of 1.89. Virtus Investment Partners has a one year low of $97.60 and a one year high of $132.85.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results 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 business had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $116.85 million. Virtus Investment Partners had a net margin of 11.64% and a return on equity of 12.75%. The business’s quarterly revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. analysts expect that Virtus Investment Partners will post 7.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date is Tuesday, January 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 35.16%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its position in Virtus Investment Partners by 0.5% in the second quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock worth $488,000 after buying an additional 21 shares during the period. Sterling Capital Management LLC increased its position in Virtus Investment Partners by 0.8% in the second quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock worth $856,000 after buying an additional 58 shares during the period. Prudential Financial Inc. increased its position in Virtus Investment Partners by 0.5% in the second quarter. Prudential Financial Inc. now owns 11,278 shares of the closed-end fund’s stock worth $1,251,000 after buying an additional 60 shares during the period. Loews Corp increased its position in Virtus Investment Partners by 2.8% in the second quarter. Loews Corp now owns 3,687 shares of the closed-end fund’s stock worth $409,000 after buying an additional 100 shares during the period. Finally, Macquarie Group Ltd. increased its position in Virtus Investment Partners by 0.8% in the second quarter. Macquarie Group Ltd. now owns 14,023 shares of the closed-end fund’s stock worth $1,556,000 after buying an additional 107 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

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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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