Virtus Investment Partners (NASDAQ:VRTS) had its price target increased by Morgan Stanley from $190.00 to $250.00 in a report published on Monday, AR Network reports. The firm currently has an equal weight rating on the closed-end fund’s stock.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a buy rating and set a $243.00 price target for the company in a report on Tuesday, January 5th. BidaskClub upgraded shares of Virtus Investment Partners from a buy rating to a strong-buy rating in a research report on Thursday, October 22nd. Barclays upped their price target on shares of Virtus Investment Partners from $180.00 to $215.00 and gave the stock an overweight rating in a research note on Monday, October 26th. Piper Sandler increased their price target on shares of Virtus Investment Partners from $200.00 to $267.00 and gave the company an overweight rating in a report on Monday, October 26th. Finally, ValuEngine raised shares of Virtus Investment Partners from a strong sell rating to a sell rating in a report on Tuesday, December 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Virtus Investment Partners currently has an average rating of Buy and a consensus price target of $225.80.
VRTS stock opened at $233.81 on Monday. The stock has a market capitalization of $1.78 billion, a PE ratio of 35.27 and a beta of 1.66. The company has a fifty day moving average of $209.71 and a 200-day moving average of $161.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 32.42 and a current ratio of 32.42. Virtus Investment Partners has a one year low of $55.37 and a one year high of $239.99.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, October 23rd. The closed-end fund reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.42 by $0.07. Virtus Investment Partners had a net margin of 9.48% and a return on equity of 20.04%. The firm had revenue of $137.63 million during the quarter, compared to analysts’ expectations of $138.18 million. Equities analysts forecast that Virtus Investment Partners will post 15.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Friday, January 29th will be given a $0.82 dividend. The ex-dividend date of this dividend is Thursday, January 28th. This represents a $3.28 annualized dividend and a dividend yield of 1.40%. Virtus Investment Partners’s dividend payout ratio is presently 22.16%.
A number of hedge funds and other institutional investors have recently modified their holdings of VRTS. Schonfeld Strategic Advisors LLC raised its position in Virtus Investment Partners by 28.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 112,410 shares of the closed-end fund’s stock worth $15,585,000 after acquiring an additional 25,096 shares during the last quarter. Point72 Europe London LLP purchased a new position in shares of Virtus Investment Partners during the 3rd quarter worth approximately $5,005,000. State of Tennessee Treasury Department increased its stake in shares of Virtus Investment Partners by 113.0% during the 3rd quarter. State of Tennessee Treasury Department now owns 5,185 shares of the closed-end fund’s stock worth $718,000 after purchasing an additional 2,751 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Virtus Investment Partners by 253.7% during the 3rd quarter. Squarepoint Ops LLC now owns 7,286 shares of the closed-end fund’s stock worth $1,010,000 after purchasing an additional 5,226 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Virtus Investment Partners by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 801,434 shares of the closed-end fund’s stock valued at $93,200,000 after buying an additional 50,204 shares in the last quarter. 83.23% of the stock is currently owned by hedge funds and other institutional investors.
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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