Virtus Investment Partners Inc (NASDAQ:VRTS) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Virtus Investment Partners Inc (NASDAQ:VRTS) have received a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $159.20.

Several equities research analysts recently weighed in on the company. Barclays boosted their target price on Virtus Investment Partners from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. They noted that the move was a valuation call. Bank of America boosted their target price on Virtus Investment Partners from $140.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Piper Sandler boosted their target price on Virtus Investment Partners from $150.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. Zacks Investment Research upgraded Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a report on Tuesday, July 7th. Finally, Morgan Stanley boosted their target price on Virtus Investment Partners from $133.00 to $159.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 28th.

Shares of NASDAQ VRTS traded down $0.18 during trading hours on Tuesday, hitting $135.92. The stock had a trading volume of 30,404 shares, compared to its average volume of 46,450. The company has a market capitalization of $1.05 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.77 and a beta of 1.65. The firm’s 50-day moving average price is $120.80 and its two-hundred day moving average price is $105.95. Virtus Investment Partners has a 52 week low of $55.37 and a 52 week high of $143.49.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, July 24th. The closed-end fund reported $3.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.05 by $0.19. Virtus Investment Partners had a return on equity of 20.57% and a net margin of 9.48%. The firm had revenue of $118.08 million during the quarter, compared to analyst estimates of $118.05 million. Equities research analysts anticipate that Virtus Investment Partners will post 15.3 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, July 30th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.97%. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 18.11%.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Virtus Investment Partners by 8.8% in the first quarter. BlackRock Inc. now owns 1,211,188 shares of the closed-end fund’s stock valued at $92,183,000 after purchasing an additional 98,343 shares in the last quarter. State Street Corp raised its stake in shares of Virtus Investment Partners by 10.2% in the first quarter. State Street Corp now owns 214,938 shares of the closed-end fund’s stock valued at $16,359,000 after purchasing an additional 19,929 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Virtus Investment Partners by 5.5% in the first quarter. WCM Investment Management LLC now owns 141,406 shares of the closed-end fund’s stock valued at $10,762,000 after purchasing an additional 7,375 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Virtus Investment Partners by 3.5% in the first quarter. Royal Bank of Canada now owns 141,237 shares of the closed-end fund’s stock valued at $10,750,000 after purchasing an additional 4,758 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its stake in shares of Virtus Investment Partners by 0.3% in the first quarter. Peregrine Capital Management LLC now owns 135,373 shares of the closed-end fund’s stock valued at $10,303,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 82.13% of the company’s stock.

About Virtus Investment Partners

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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