Virtus Investment Partners (VRTS) Set to Release Earnings on Friday

Virtus Investment Partners (NASDAQ:VRTS) is expected to be releasing its results before the market opens on Friday, October 30th. Analysts expect Virtus Investment Partners to post earnings of $5.78 per share and revenue of $181.36 million for the quarter.

Virtus Investment Partners Trading Up 1.5%

Shares of VRTS stock opened at $120.68 on Wednesday. Virtus Investment Partners has a 12-month low of $117.44 and a 12-month high of $175.66. The company has a current ratio of 11.86, a quick ratio of 11.86 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $140.35 and its 200-day moving average price is $146.06. The stock has a market capitalization of $799.26 million, a price-to-earnings ratio of 7.14 and a beta of 1.41.

Virtus Investment Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, October 30th. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 dividend on an annualized basis and a yield of 8.1%. Virtus Investment Partners’s dividend payout ratio is currently 55.84%.

Analyst Upgrades and Downgrades

VRTS has been the subject of several research analyst reports. Piper Sandler cut their price target on Virtus Investment Partners from $172.00 to $146.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Zacks Research cut Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 14th. Morgan Stanley decreased their price objective on Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, September 25th. TD Cowen lowered their target price on Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research report on Monday, October 12th. Finally, Barclays cut their target price on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating for the company in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $129.75.

Insider Transactions at Virtus Investment Partners

In related news, EVP Michael A. Angerthal sold 14,975 shares of Virtus Investment Partners stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $167.34, for a total value of $2,505,916.50. Following the completion of the transaction, the executive vice president owned 63,461 shares in the company, valued at approximately $10,619,563.74. This trade represents a 19.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director W. Morris sold 435 shares of Virtus Investment Partners stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total value of $60,286.65. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.40% of the company’s stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc is an asset management company that provides investment products and services to individual and institutional investors. The company operates as a multi-boutique investment firm, partnering with affiliated and unaffiliated investment managers that offer specialized expertise across a range of asset classes and investment strategies.

Virtus distributes mutual funds, exchange-traded funds, separately managed accounts, closed-end funds and other investment solutions.