Virtus Investment Partners (VRTS) to Release Quarterly Earnings on Friday

Virtus Investment Partners (NASDAQ:VRTS) is expected to be announcing its earnings results before the market opens on Friday, July 25th. Analysts expect the company to announce earnings of $6.17 per share and revenue of $191.90 million for the quarter.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, April 25th. The closed-end fund reported $5.73 earnings per share for the quarter, beating analysts’ consensus estimates of $5.68 by $0.05. The business had revenue of $217.93 million during the quarter, compared to analyst estimates of $201.99 million. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. During the same period last year, the business earned $5.41 EPS. On average, analysts expect Virtus Investment Partners to post $28 EPS for the current fiscal year and $30 EPS for the next fiscal year.

Virtus Investment Partners Stock Up 1.3%

NASDAQ:VRTS opened at $211.12 on Friday. The firm has a market cap of $1.46 billion, a P/E ratio of 12.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. Virtus Investment Partners has a fifty-two week low of $142.18 and a fifty-two week high of $252.82. The firm has a 50-day simple moving average of $181.17 and a two-hundred day simple moving average of $180.83.

Virtus Investment Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, July 31st. This represents a $9.00 dividend on an annualized basis and a yield of 4.26%. Virtus Investment Partners’s dividend payout ratio is currently 53.41%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VRTS shares. Piper Sandler reduced their price objective on shares of Virtus Investment Partners from $216.00 to $211.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. TD Cowen reduced their price objective on shares of Virtus Investment Partners from $220.00 to $158.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Wall Street Zen upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research note on Monday, May 19th. Barclays raised their price objective on shares of Virtus Investment Partners from $150.00 to $190.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Morgan Stanley set a $171.00 price target on shares of Virtus Investment Partners and gave the company an “underweight” rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Virtus Investment Partners currently has an average rating of “Hold” and a consensus target price of $182.50.

Institutional Trading of Virtus Investment Partners

A number of institutional investors have recently made changes to their positions in VRTS. Millennium Management LLC boosted its holdings in shares of Virtus Investment Partners by 10.8% in the first quarter. Millennium Management LLC now owns 58,788 shares of the closed-end fund’s stock worth $10,133,000 after buying an additional 5,734 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Virtus Investment Partners by 57.4% in the first quarter. Jane Street Group LLC now owns 15,543 shares of the closed-end fund’s stock worth $2,679,000 after buying an additional 5,671 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Virtus Investment Partners by 20.8% in the first quarter. Intech Investment Management LLC now owns 6,587 shares of the closed-end fund’s stock worth $1,135,000 after buying an additional 1,134 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Virtus Investment Partners by 2.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,952 shares of the closed-end fund’s stock worth $681,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

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.