Virtus Investment Partners, Inc. (VRTS) Lowered to Hold at BidaskClub
BidaskClub downgraded shares of Virtus Investment Partners, Inc. (NASDAQ:VRTS) from a buy rating to a hold rating in a research report released on Tuesday.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Virtus Investment Partners from a sell rating to a hold rating and set a $122.00 price target for the company in a research report on Friday, April 14th. Morgan Stanley initiated coverage on Virtus Investment Partners in a research report on Thursday, June 1st. They set an equal weight rating and a $105.00 price target for the company. Finally, Jefferies Group LLC set a $110.00 price target on Virtus Investment Partners and gave the company a hold rating in a research report on Sunday, April 30th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $112.40.
Shares of Virtus Investment Partners (VRTS) traded down 2.41% on Tuesday, hitting $113.30. The company had a trading volume of 91,447 shares. The stock’s 50-day moving average is $112.10 and its 200 day moving average is $109.09. Virtus Investment Partners has a 52 week low of $84.00 and a 52 week high of $128.10. The company has a market capitalization of $791.85 million, a price-to-earnings ratio of 17.76 and a beta of 1.71.
Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.66 by $0.05. The company had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $91.78 million. Virtus Investment Partners had a net margin of 15.27% and a return on equity of 10.71%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. Equities analysts expect that Virtus Investment Partners will post $7.51 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.59%. The ex-dividend date is Thursday, July 27th. Virtus Investment Partners’s payout ratio is currently 27.91%.
A number of hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Virtus Investment Partners during the first quarter valued at approximately $18,618,000. Vanguard Group Inc. raised its stake in shares of Virtus Investment Partners by 26.5% in the first quarter. Vanguard Group Inc. now owns 647,617 shares of the closed-end fund’s stock valued at $68,583,000 after buying an additional 135,509 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Virtus Investment Partners by 23.6% in the first quarter. Dimensional Fund Advisors LP now owns 472,922 shares of the closed-end fund’s stock valued at $50,082,000 after buying an additional 90,422 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Virtus Investment Partners by 356.1% in the first quarter. California Public Employees Retirement System now owns 87,112 shares of the closed-end fund’s stock valued at $9,225,000 after buying an additional 68,012 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Virtus Investment Partners by 50.4% in the first quarter. JPMorgan Chase & Co. now owns 185,925 shares of the closed-end fund’s stock valued at $19,690,000 after buying an additional 62,331 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors.
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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