Zacks Investment Research cut shares of Virtus Investment Partners (NASDAQ:VRTS) from a buy rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Virtus Investment Partners, Inc., headquartered in Hartford, Connecticut, provides investment management products and services to individuals and institutions in the United States. . It operates a multi-manager asset management business, comprising a number of individual affiliated managers, each with a distinct investment style, autonomous investment process and individual brand. Investors have an array of needs and Virtus Investment Partners offers a variety of investment styles and multiple disciplines to meet those needs. The Company provides its products in a number of forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds and separately managed accounts. The Company manages institutional accounts for corporations, multi-employer retirement funds and foundations, endowments, special purpose funds and other types of institutions. “

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Other analysts have also recently issued reports about the company. TheStreet raised Virtus Investment Partners from a c+ rating to a b rating in a research report on Thursday, November 30th. BidaskClub raised Virtus Investment Partners from a hold rating to a buy rating in a research report on Wednesday, February 7th. Barclays lifted their price objective on Virtus Investment Partners from $133.00 to $140.00 and gave the company an equal weight rating in a research report on Monday, February 5th. Morgan Stanley lifted their price objective on Virtus Investment Partners from $127.00 to $136.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, Sandler O’Neill set a $136.00 price objective on Virtus Investment Partners and gave the company a hold rating in a research report on Monday, February 5th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $139.00.

Shares of Virtus Investment Partners (VRTS) opened at $130.85 on Wednesday. The company has a quick ratio of 17.17, a current ratio of 17.17 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $941.95, a PE ratio of 17.13, a P/E/G ratio of 0.29 and a beta of 1.74. Virtus Investment Partners has a 12 month low of $97.60 and a 12 month high of $135.90.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.18. The company had revenue of $128.00 million for the quarter, compared to analysts’ expectations of $127.09 million. Virtus Investment Partners had a return on equity of 13.75% and a net margin of 8.70%. Virtus Investment Partners’s quarterly revenue was up 60.2% on a year-over-year basis. During the same period last year, the firm earned $1.75 earnings per share. analysts predict that Virtus Investment Partners will post 12.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, April 30th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, April 27th. This represents a $1.80 annualized dividend and a yield of 1.38%. Virtus Investment Partners’s payout ratio is 45.57%.

Institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new position in shares of Virtus Investment Partners during the third quarter valued at approximately $204,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Virtus Investment Partners by 1,798.9% during the third 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 during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Virtus Investment Partners during the fourth quarter valued at approximately $287,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Virtus Investment Partners by 73.2% during the third 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 during the last quarter. Finally, MetLife Investment Advisors LLC purchased a new position in shares of Virtus Investment Partners during the fourth quarter valued at approximately $373,000. 95.81% of the stock is currently owned by institutional investors and hedge funds.

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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.

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