Piper Sandler Comments on Virtus Investment Partners, Inc.’s Q1 2022 Earnings (NASDAQ:VRTS)

Virtus Investment Partners, Inc. (NASDAQ:VRTSGet Rating) – Stock analysts at Piper Sandler raised their Q1 2022 EPS estimates for Virtus Investment Partners in a research report issued on Monday, April 11th. Piper Sandler analyst S. Mody now forecasts that the closed-end fund will post earnings per share of $7.79 for the quarter, up from their previous estimate of $7.68. Piper Sandler currently has a “Overweight” rating and a $375.00 price target on the stock. Piper Sandler also issued estimates for Virtus Investment Partners’ Q2 2022 earnings at $9.00 EPS, Q3 2022 earnings at $9.43 EPS, Q4 2022 earnings at $9.67 EPS, FY2022 earnings at $35.88 EPS, Q1 2023 earnings at $8.13 EPS, Q2 2023 earnings at $9.87 EPS, Q3 2023 earnings at $10.36 EPS, Q4 2023 earnings at $10.64 EPS and FY2023 earnings at $39.00 EPS.

Virtus Investment Partners (NASDAQ:VRTSGet Rating) last posted its quarterly earnings data on Friday, February 4th. The closed-end fund reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.93 by $0.43. The business had revenue of $232.60 million during the quarter, compared to analyst estimates of $228.57 million. Virtus Investment Partners had a return on equity of 36.02% and a net margin of 21.25%. During the same period last year, the company earned $5.15 EPS.

A number of other equities research analysts have also issued reports on the company. Morgan Stanley lowered Virtus Investment Partners from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $393.00 to $240.00 in a research note on Friday, April 8th. Zacks Investment Research lowered Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 10th. Finally, StockNews.com lowered Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Friday, April 8th.

Shares of VRTS stock opened at $198.28 on Wednesday. Virtus Investment Partners has a 52-week low of $197.24 and a 52-week high of $338.80. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 7.61 and a beta of 1.56. The business’s 50 day simple moving average is $238.58.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VRTS. Bank of America Corp DE increased its holdings in shares of Virtus Investment Partners by 38.8% in the 2nd quarter. Bank of America Corp DE now owns 318,906 shares of the closed-end fund’s stock valued at $88,584,000 after acquiring an additional 89,161 shares during the period. Norges Bank purchased a new position in shares of Virtus Investment Partners in the 4th quarter valued at $20,103,000. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Virtus Investment Partners in the 4th quarter valued at $11,884,000. Vulcan Value Partners LLC increased its holdings in shares of Virtus Investment Partners by 12.9% in the 4th quarter. Vulcan Value Partners LLC now owns 338,969 shares of the closed-end fund’s stock valued at $100,708,000 after acquiring an additional 38,640 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Virtus Investment Partners by 272.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 39,649 shares of the closed-end fund’s stock valued at $11,780,000 after acquiring an additional 29,004 shares during the period. Institutional investors own 84.05% of the company’s stock.

In other news, Director W Howard Morris acquired 435 shares of Virtus Investment Partners stock in a transaction on Thursday, March 17th. The shares were bought at an average cost of $231.00 per share, for a total transaction of $100,485.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.50% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Friday, April 29th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $6.00 annualized dividend and a yield of 3.03%. Virtus Investment Partners’s payout ratio is currently 23.03%.

Virtus Investment Partners Company Profile (Get Rating)

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.

Further Reading

Earnings History and Estimates for Virtus Investment Partners (NASDAQ:VRTS)

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