Virtus Investment Partners (NASDAQ:VRTS) had its price target boosted by Morgan Stanley from $127.00 to $136.00 in a research report sent to investors on Wednesday. The brokerage currently has an equal weight rating on the closed-end fund’s stock.

A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded Virtus Investment Partners from a hold rating to a sell rating in a research report on Wednesday, December 27th. Goldman Sachs Group raised Virtus Investment Partners from a sell rating to a neutral rating and set a $130.00 price target on the stock in a research report on Tuesday, January 9th. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a buy rating and set a $145.00 price target on the stock in a research report on Saturday, January 13th. Barclays increased their price target on Virtus Investment Partners from $116.00 to $125.00 and gave the stock an equal weight rating in a research report on Monday, October 30th. Finally, TheStreet raised Virtus Investment Partners from a c+ rating to a b rating in a research report on Thursday, November 30th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $139.63.

Shares of Virtus Investment Partners (VRTS) opened at $121.15 on Wednesday. The stock has a market capitalization of $860.39, a P/E ratio of 30.67, a P/E/G ratio of 0.27 and a beta of 1.79. Virtus Investment Partners has a 12-month low of $97.60 and a 12-month high of $134.65.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.42 by $0.18. The business had revenue of $128.00 million for the quarter, compared to the consensus estimate of $127.09 million. Virtus Investment Partners had a return on equity of 13.93% and a net margin of 8.70%. The firm’s quarterly revenue was up 60.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 earnings per share. equities research analysts anticipate that Virtus Investment Partners will post 12.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, January 30th. Virtus Investment Partners’s dividend payout ratio is presently 45.57%.

Hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. acquired a new stake in shares of Virtus Investment Partners in the 3rd quarter valued at $204,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Virtus Investment Partners by 1,798.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock valued at $209,000 after purchasing an additional 1,709 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Virtus Investment Partners in the 4th quarter valued at $287,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Virtus Investment Partners by 73.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 2,720 shares of the closed-end fund’s stock valued at $316,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Virtus Investment Partners by 17.5% in the 2nd quarter. Voya Investment Management LLC now owns 2,871 shares of the closed-end fund’s stock valued at $319,000 after purchasing an additional 427 shares in the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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