Virtus Investment Partners (NASDAQ:VRTS) announced its quarterly earnings data on Friday. The closed-end fund reported $3.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.41 by $0.22, Morningstar.com reports. Virtus Investment Partners had a return on equity of 20.19% and a net margin of 13.35%. The firm had revenue of $140.49 million for the quarter, compared to analysts’ expectations of $144.92 million. During the same period last year, the firm earned $2.73 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year.
Virtus Investment Partners stock traded up $6.91 during midday trading on Friday, reaching $112.43. The stock had a trading volume of 2,304 shares, compared to its average volume of 65,327. Virtus Investment Partners has a 52-week low of $70.00 and a 52-week high of $134.25. The company has a market capitalization of $768.11 million, a price-to-earnings ratio of 9.16, a price-to-earnings-growth ratio of 1.63 and a beta of 1.63. The stock has a fifty day simple moving average of $106.59.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Tuesday, July 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 17.94%.
Several research firms recently issued reports on VRTS. Zacks Investment Research raised Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Saturday, July 13th. TheStreet upgraded shares of ZTO Express (Cayman) from a “c+” rating to a “b” rating in a report on Thursday, May 16th. Morgan Stanley lowered their target price on shares of Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. ValuEngine upgraded shares of Valmont Industries from a “sell” rating to a “hold” rating in a report on Friday, July 12th. Finally, Bank of America set a $20.00 target price on shares of Fiat Chrysler Automobiles and gave the company a “hold” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $110.00.
A number of institutional investors have recently bought and sold shares of VRTS. BlackRock Inc. increased its stake in shares of Virtus Investment Partners by 1.9% in the 4th quarter. BlackRock Inc. now owns 1,075,246 shares of the closed-end fund’s stock valued at $85,407,000 after purchasing an additional 19,717 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Virtus Investment Partners by 5.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 562,751 shares of the closed-end fund’s stock valued at $44,700,000 after purchasing an additional 29,871 shares during the period. WCM Investment Management LLC grew its holdings in Virtus Investment Partners by 70.0% during the first quarter. WCM Investment Management LLC now owns 125,198 shares of the closed-end fund’s stock valued at $12,213,000 after purchasing an additional 51,542 shares during the period. Bank of New York Mellon Corp grew its holdings in Virtus Investment Partners by 11.0% during the fourth quarter. Bank of New York Mellon Corp now owns 104,923 shares of the closed-end fund’s stock valued at $8,334,000 after purchasing an additional 10,410 shares during the period. Finally, Norges Bank bought a new position in Virtus Investment Partners during the fourth quarter valued at $6,569,000. 94.26% of the stock is currently owned by institutional investors.
Virtus Investment Partners Company Profile
Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.
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