Virtus Investment Partners (VRTS) Projected to Announce Earnings on Thursday

Virtus Investment Partners (NASDAQ:VRTS) is expected to issue its results before the market opens on Thursday, July 30th. Analysts expect the company to post earnings of $6.08 per share and revenue of $184.1810 million for the quarter.

Virtus Investment Partners Price Performance

VRTS opened at $164.32 on Thursday. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. Virtus Investment Partners has a 52-week low of $121.61 and a 52-week high of $215.06. The company has a 50 day moving average of $147.74 and a two-hundred day moving average of $146.02. The company has a market cap of $1.10 billion, a P/E ratio of 9.72 and a beta of 1.38.

Virtus Investment Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be issued a dividend of $2.40 per share. The ex-dividend date is Friday, July 31st. This represents a $9.60 annualized dividend and a dividend yield of 5.8%. Virtus Investment Partners’s payout ratio is presently 56.50%.

Institutional Investors Weigh In On Virtus Investment Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Virtus Investment Partners by 0.5% in the 4th quarter. State Street Corp now owns 306,375 shares of the closed-end fund’s stock valued at $49,985,000 after buying an additional 1,586 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Virtus Investment Partners by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 300,098 shares of the closed-end fund’s stock worth $48,961,000 after acquiring an additional 2,917 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Virtus Investment Partners by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 297,128 shares of the closed-end fund’s stock worth $48,477,000 after acquiring an additional 6,885 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Virtus Investment Partners by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 245,344 shares of the closed-end fund’s stock worth $40,028,000 after acquiring an additional 15,987 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Virtus Investment Partners by 6.9% in the fourth quarter. AQR Capital Management LLC now owns 122,725 shares of the closed-end fund’s stock valued at $20,023,000 after purchasing an additional 7,958 shares during the last quarter. Hedge funds and other institutional investors own 80.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VRTS. Morgan Stanley upped their price target on shares of Virtus Investment Partners from $112.00 to $119.00 and gave the stock an “underweight” rating in a research report on Friday, June 26th. Barclays boosted their price objective on Virtus Investment Partners from $125.00 to $141.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. Piper Sandler decreased their target price on Virtus Investment Partners from $181.00 to $170.00 and set an “overweight” rating for the company in a research report on Monday, May 4th. Finally, TD Cowen increased their target price on Virtus Investment Partners from $136.00 to $147.00 and gave the company a “hold” rating in a research note on Monday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Virtus Investment Partners presently has an average rating of “Reduce” and a consensus target price of $144.25.

Virtus Investment Partners Company Profile

Virtus Investment Partners (NASDAQ: VRTS) is a publicly traded investment management company headquartered in Hartford, Connecticut. The firm offers a broad range of investment solutions to institutional, high-net-wealth, and retail investors, drawing on the expertise of multiple affiliated investment teams. Since its founding in 1995, Virtus has grown by integrating specialized asset managers and expanding its product lineup, while maintaining a focus on active management across diverse market environments.

The company’s product suite encompasses mutual funds, closed-end funds, exchange-traded funds (ETFs), collective trusts, UCITS funds, and separately managed accounts.