Virtus Investment Partners (VRTS) Set to Announce Quarterly Earnings on Friday

Virtus Investment Partners (NASDAQ:VRTS) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, April 26th. Analysts expect the company to announce earnings of $5.44 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $6.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.96 by $0.15. Virtus Investment Partners had a net margin of 15.45% and a return on equity of 18.83%. The business had revenue of $214.59 million during the quarter, compared to the consensus estimate of $196.20 million. During the same quarter last year, the firm posted $5.17 EPS. On average, analysts expect Virtus Investment Partners to post $27 EPS for the current fiscal year and $29 EPS for the next fiscal year.

Virtus Investment Partners Trading Up 0.6 %

Virtus Investment Partners stock opened at $219.80 on Friday. The firm’s fifty day moving average price is $236.12 and its two-hundred day moving average price is $219.99. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.41 and a beta of 1.52. Virtus Investment Partners has a 1-year low of $165.00 and a 1-year high of $263.39.

Virtus Investment Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $1.90 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $7.60 dividend on an annualized basis and a yield of 3.46%. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 42.91%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. TD Cowen lowered Virtus Investment Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $285.00 to $264.00 in a report on Monday, April 8th. Piper Sandler raised their price objective on Virtus Investment Partners from $264.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. StockNews.com lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley increased their target price on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a report on Wednesday.

Institutional Investors Weigh In On Virtus Investment Partners

A number of hedge funds have recently made changes to their positions in the business. Raymond James & Associates increased its stake in shares of Virtus Investment Partners by 11.9% during the 1st quarter. Raymond James & Associates now owns 7,685 shares of the closed-end fund’s stock worth $1,844,000 after purchasing an additional 815 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Virtus Investment Partners by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 86,264 shares of the closed-end fund’s stock valued at $20,702,000 after purchasing an additional 2,054 shares during the period. Citigroup Inc. increased its position in Virtus Investment Partners by 7.4% in the first quarter. Citigroup Inc. now owns 6,692 shares of the closed-end fund’s stock worth $1,606,000 after buying an additional 460 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Virtus Investment Partners by 37.2% in the first quarter. PNC Financial Services Group Inc. now owns 572 shares of the closed-end fund’s stock valued at $138,000 after buying an additional 155 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Virtus Investment Partners by 55.5% during the 1st quarter. MetLife Investment Management LLC now owns 3,887 shares of the closed-end fund’s stock valued at $933,000 after buying an additional 1,388 shares during the last quarter. 80.52% of the stock is currently owned by 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.