Brokerages Set Virtus Investment Partners Inc (VRTS) Target Price at $98.80

Shares of Virtus Investment Partners Inc (NASDAQ:VRTS) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $107.83.

Several research firms recently weighed in on VRTS. Credit Suisse Group set a $113.00 price target on shares of Virtus Investment Partners and gave the stock an “outperform” rating in a report on Monday, January 14th. Bank of America boosted their price target on shares of Virtus Investment Partners from $119.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Barclays boosted their price target on shares of Virtus Investment Partners from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 19th. Finally, ValuEngine upgraded shares of Virtus Investment Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th.

Virtus Investment Partners stock traded up $2.40 during midday trading on Wednesday, hitting $118.96. 82,814 shares of the stock were exchanged, compared to its average volume of 78,765. Virtus Investment Partners has a 52-week low of $70.00 and a 52-week high of $138.02. The stock has a market cap of $804.69 million, a PE ratio of 9.70, a price-to-earnings-growth ratio of 3.49 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 16.69 and a current ratio of 16.69.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, February 1st. The closed-end fund reported $3.06 earnings per share for the quarter, hitting the consensus estimate of $3.06. Virtus Investment Partners had a net margin of 13.68% and a return on equity of 19.83%. The business had revenue of $138.10 million for the quarter, compared to analysts’ expectations of $143.54 million. During the same period in the previous year, the company earned $2.60 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts predict that Virtus Investment Partners will post 10.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, April 29th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 17.94%.

A number of hedge funds have recently made changes to their positions in VRTS. Oppenheimer Asset Management Inc. bought a new stake in Virtus Investment Partners in the fourth quarter worth about $28,000. Public Employees Retirement System of Ohio raised its position in Virtus Investment Partners by 67.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 370 shares of the closed-end fund’s stock worth $29,000 after acquiring an additional 149 shares during the period. Neuburgh Advisers LLC raised its position in Virtus Investment Partners by 14.8% in the fourth quarter. Neuburgh Advisers LLC now owns 992 shares of the closed-end fund’s stock worth $79,000 after acquiring an additional 128 shares during the period. Penserra Capital Management LLC raised its position in Virtus Investment Partners by 29.3% in the fourth quarter. Penserra Capital Management LLC now owns 1,272 shares of the closed-end fund’s stock worth $101,000 after acquiring an additional 288 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its position in Virtus Investment Partners by 358.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,313 shares of the closed-end fund’s stock worth $184,000 after acquiring an additional 1,808 shares during the period. 97.10% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Capital gains and your 401(k) or IRA

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

Receive News & Ratings for Virtus Investment Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtus Investment Partners and related companies with MarketBeat.com's FREE daily email newsletter.