Today The Virtus Investment Partners, Inc. (VRTS) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Today The Virtus Investment Partners, Inc. (VRTS) Posts Quarterly  Earnings Results, Misses Expectations By $0.05 EPS

Virtus Investment Partners, Inc. (NASDAQ:VRTS) released its quarterly earnings results on Wednesday. The closed-end fund reported $1.75 EPS for the quarter, missing the Zacks’ consensus estimate of $1.80 by $0.05. The business had revenue of $79.90 million for the quarter, compared to analyst estimates of $81.07 million. Virtus Investment Partners had a return on equity of 9.15% and a net margin of 12.99%. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.37 EPS.

Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at 125.00 on Wednesday. The company has a 50-day moving average price of $120.83 and a 200-day moving average price of $101.84. The firm has a market cap of $736.00 million, a price-to-earnings ratio of 24.41 and a beta of 1.83. Virtus Investment Partners has a 12 month low of $66.12 and a 12 month high of $128.10.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Tuesday, January 31st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, January 27th. Virtus Investment Partners’s dividend payout ratio is presently 34.82%.

A number of research firms have recently commented on VRTS. Jefferies Group LLC raised their price target on Virtus Investment Partners from $87.00 to $97.00 and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Credit Suisse Group reaffirmed a “hold” rating and set a $110.00 price target on shares of Virtus Investment Partners in a research report on Monday, November 7th. TheStreet raised Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Thursday, November 10th. Finally, Zacks Investment Research lowered Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday, December 31st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $103.75.

In other Virtus Investment Partners news, major shareholder Of Montreal /Can/ Bank sold 1,727,746 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $93.50, for a total value of $161,544,251.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan raised its stake in shares of Virtus Investment Partners by 1.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 1,320 shares of the closed-end fund’s stock valued at $129,000 after buying an additional 20 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Virtus Investment Partners by 0.9% in the third quarter. Arizona State Retirement System now owns 3,000 shares of the closed-end fund’s stock valued at $294,000 after buying an additional 28 shares during the last quarter. BlackRock Inc. raised its stake in shares of Virtus Investment Partners by 2.9% in the third quarter. BlackRock Inc. now owns 1,837 shares of the closed-end fund’s stock valued at $179,000 after buying an additional 51 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Virtus Investment Partners by 3.0% in the third quarter. BlackRock Group LTD now owns 8,902 shares of the closed-end fund’s stock valued at $870,000 after buying an additional 263 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Virtus Investment Partners by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 22,046 shares of the closed-end fund’s stock valued at $1,570,000 after buying an additional 294 shares during the last quarter. Institutional investors own 96.65% of the company’s stock.

Virtus Investment Partners Company Profile

Virtus Investment Partners, Inc 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.

Related posts

Leave a Comment