Virtus Investment Partners (NASDAQ:VRTS) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Virtus Investment Partners (NASDAQ:VRTSGet Rating) posted its quarterly earnings results on Friday. The closed-end fund reported $7.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $7.91 by ($0.04), MarketWatch Earnings reports. Virtus Investment Partners had a net margin of 21.25% and a return on equity of 36.02%. During the same quarter in the previous year, the business posted $6.78 earnings per share.

VRTS traded down $0.91 during trading hours on Monday, hitting $176.25. 7 shares of the stock were exchanged, compared to its average volume of 56,585. The stock has a 50-day simple moving average of $221.24. Virtus Investment Partners has a 12 month low of $176.09 and a 12 month high of $338.80. The firm has a market capitalization of $1.32 billion, a PE ratio of 6.89 and a beta of 1.56.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Thursday, April 28th. Virtus Investment Partners’s dividend payout ratio (DPR) is presently 23.32%.

Several analysts have issued reports on VRTS shares. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 10th. Morgan Stanley lowered their price objective on shares of Virtus Investment Partners from $240.00 to $221.00 and set an “underweight” rating for the company in a research report on Tuesday, April 26th. StockNews.com raised shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler decreased their price target on shares of Virtus Investment Partners from $375.00 to $325.00 in a research report on Monday.

In related news, Director W Howard Morris bought 435 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its holdings in Virtus Investment Partners by 5.6% during the second quarter. Morgan Stanley now owns 44,519 shares of the closed-end fund’s stock worth $12,366,000 after acquiring an additional 2,368 shares during the period. Nuveen Asset Management LLC grew its holdings in Virtus Investment Partners by 64.3% during the fourth quarter. Nuveen Asset Management LLC now owns 38,584 shares of the closed-end fund’s stock worth $10,980,000 after acquiring an additional 15,100 shares during the period. LPL Financial LLC grew its holdings in Virtus Investment Partners by 6.6% during the fourth quarter. LPL Financial LLC now owns 787 shares of the closed-end fund’s stock worth $234,000 after acquiring an additional 49 shares during the period. State Street Corp grew its holdings in Virtus Investment Partners by 3.1% during the fourth quarter. State Street Corp now owns 257,848 shares of the closed-end fund’s stock worth $76,607,000 after acquiring an additional 7,803 shares during the period. Finally, Credit Suisse AG grew its holdings in Virtus Investment Partners by 1.9% during the fourth quarter. Credit Suisse AG now owns 6,376 shares of the closed-end fund’s stock worth $1,894,000 after acquiring an additional 119 shares during the period. Institutional investors and hedge funds own 85.06% of the company’s stock.

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.

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Earnings History for Virtus Investment Partners (NASDAQ:VRTS)

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