Virtus Investment Partners (NASDAQ:VRTS) PT Raised to $159.00

Virtus Investment Partners (NASDAQ:VRTS) had its price target lifted by Morgan Stanley from $133.00 to $159.00 in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the closed-end fund’s stock.

Several other brokerages have also recently commented on VRTS. Bank of America lifted their price target on shares of Virtus Investment Partners from $140.00 to $154.00 and gave the stock a buy rating in a research report on Friday, July 10th. Barclays lifted their price objective on shares of Virtus Investment Partners from $150.00 to $170.00 and gave the stock an overweight rating in a research note on Monday, July 27th. They noted that the move was a valuation call. Piper Sandler lifted their price objective on shares of Virtus Investment Partners from $150.00 to $185.00 and gave the stock an overweight rating in a research note on Monday, July 27th. Zacks Investment Research raised shares of Virtus Investment Partners from a hold rating to a buy rating and set a $128.00 price objective on the stock in a research note on Tuesday, July 7th. Finally, BidaskClub raised shares of Virtus Investment Partners from a hold rating to a buy rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Virtus Investment Partners currently has an average rating of Buy and an average target price of $159.20.

Shares of NASDAQ:VRTS opened at $135.92 on Tuesday. Virtus Investment Partners has a one year low of $55.37 and a one year high of $143.49. The company has a 50 day moving average of $120.80 and a 200-day moving average of $105.95. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.81 and a beta of 1.65.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, July 24th. The closed-end fund reported $3.24 EPS for the quarter, topping the consensus estimate of $3.05 by $0.19. Virtus Investment Partners had a net margin of 9.48% and a return on equity of 20.57%. The company had revenue of $118.08 million during the quarter, compared to analysts’ expectations of $118.05 million. On average, sell-side analysts anticipate that Virtus Investment Partners will post 15.3 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, July 31st will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, July 30th. Virtus Investment Partners’s payout ratio is currently 18.11%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. bought a new position in Virtus Investment Partners in the first quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC lifted its position in shares of Virtus Investment Partners by 1,761.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 335 shares of the closed-end fund’s stock worth $25,000 after purchasing an additional 317 shares in the last quarter. NEXT Financial Group Inc lifted its position in shares of Virtus Investment Partners by 1,217.9% in the first quarter. NEXT Financial Group Inc now owns 369 shares of the closed-end fund’s stock worth $28,000 after purchasing an additional 341 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Virtus Investment Partners by 105.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 240 shares of the closed-end fund’s stock worth $30,000 after purchasing an additional 123 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of Virtus Investment Partners by 55.3% in the first quarter. Meeder Asset Management Inc. now owns 553 shares of the closed-end fund’s stock worth $42,000 after purchasing an additional 197 shares in the last quarter. 82.13% of the stock is currently owned by hedge funds and other institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

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