Virtus Investment Partners (VRTS) Cut to “C+” at TheStreet

TheStreet lowered shares of Virtus Investment Partners (NASDAQ:VRTS) from a b rating to a c+ rating in a research note issued to investors on Wednesday.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Virtus Investment Partners from a hold rating to a buy rating and set a $145.00 price objective for the company in a research note on Saturday, January 13th. BidaskClub upgraded Virtus Investment Partners from a hold rating to a buy rating in a research note on Saturday, December 2nd. Barclays lifted their price objective on Virtus Investment Partners from $116.00 to $125.00 and gave the company an equal weight rating in a research note on Monday, October 30th. 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 note 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 note on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $139.00.

Virtus Investment Partners (NASDAQ VRTS) opened at $126.00 on Wednesday. The stock has a market capitalization of $900.12, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 0.28 and a beta of 1.79. Virtus Investment Partners has a one year low of $97.60 and a one year high of $134.65.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.18. The business had revenue of $128.00 million during the quarter, compared to analysts’ expectations 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 previous year, the business earned $1.75 earnings per share. analysts expect 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 Tuesday, May 15th. Shareholders of record on Monday, April 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, April 27th. Virtus Investment Partners’s payout ratio is 45.57%.

Several institutional investors have recently bought and sold shares of VRTS. Wells Fargo & Company MN increased its holdings in shares of Virtus Investment Partners by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock worth $488,000 after purchasing an additional 21 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Virtus Investment Partners by 21.2% in the 2nd quarter. Alliancebernstein L.P. now owns 9,723 shares of the closed-end fund’s stock worth $1,079,000 after purchasing an additional 1,700 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Virtus Investment Partners by 21.6% in the 2nd quarter. Teachers Advisors LLC now owns 11,940 shares of the closed-end fund’s stock worth $1,325,000 after purchasing an additional 2,121 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Virtus Investment Partners by 28.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 17,891 shares of the closed-end fund’s stock worth $1,985,000 after purchasing an additional 3,979 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Virtus Investment Partners by 8.3% in the 2nd quarter. BlackRock Inc. now owns 825,955 shares of the closed-end fund’s stock worth $91,638,000 after purchasing an additional 63,155 shares in the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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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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