Goldman Sachs Group upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a sell rating to a neutral rating in a report issued on Tuesday, MarketBeat reports. Goldman Sachs Group currently has $130.00 price target on the closed-end fund’s stock.

Other analysts have also issued reports about the stock. Barclays raised their price objective on shares of Virtus Investment Partners from $113.00 to $116.00 and gave the company an equal weight rating in a research note on Tuesday, October 10th. BidaskClub upgraded shares of Virtus Investment Partners from a sell rating to a hold rating in a research note on Tuesday. TheStreet upgraded shares of Virtus Investment Partners from a c+ rating to a b rating in a research note on Thursday, November 30th. Morgan Stanley set a $121.00 price objective on shares of Virtus Investment Partners and gave the company a hold rating in a research note on Monday, October 23rd. Finally, Jefferies Group restated a hold rating and set a $127.00 price objective (up from $117.00) on shares of Virtus Investment Partners in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The stock has a consensus rating of Hold and an average target price of $130.63.

Shares of Virtus Investment Partners (NASDAQ VRTS) traded up $2.55 during trading on Tuesday, hitting $129.80. 70,400 shares of the company traded hands, compared to its average volume of 87,563. The company has a market cap of $929.11, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 0.47 and a beta of 1.89. Virtus Investment Partners has a 52 week low of $97.60 and a 52 week high of $130.13.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.38 by ($0.08). The business had revenue of $123.70 million during the quarter, compared to the consensus estimate of $116.85 million. Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. The firm’s revenue was up 50.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 earnings per share. analysts predict that Virtus Investment Partners will post 7.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, January 30th. Virtus Investment Partners’s payout ratio is currently 35.16%.

Several institutional investors have recently added to or reduced their stakes in VRTS. Point72 Asset Management L.P. raised its position in shares of Virtus Investment Partners by 2,031.4% during the third quarter. Point72 Asset Management L.P. now owns 74,600 shares of the closed-end fund’s stock valued at $8,657,000 after buying an additional 71,100 shares during the last quarter. BlackRock Inc. raised its position in shares of Virtus Investment Partners by 8.3% during the second quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock valued at $91,638,000 after buying an additional 63,155 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Virtus Investment Partners by 8.6% during the second quarter. Vanguard Group Inc. now owns 703,488 shares of the closed-end fund’s stock valued at $78,051,000 after buying an additional 55,871 shares during the last quarter. Mangrove Partners bought a new stake in shares of Virtus Investment Partners during the second quarter valued at approximately $4,985,000. Finally, JPMorgan Chase & Co. raised its position in shares of Virtus Investment Partners by 31.7% during the third quarter. JPMorgan Chase & Co. now owns 174,866 shares of the closed-end fund’s stock valued at $20,302,000 after buying an additional 42,139 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

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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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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