Morgan Stanley Trims Virtus Investment Partners (NASDAQ:VRTS) Target Price to $106.00

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Virtus Investment Partners (NASDAQ:VRTS) had its price objective cut by Morgan Stanley from $108.00 to $106.00 in a report released on Tuesday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the closed-end fund’s stock.

A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Virtus Investment Partners from a hold rating to a sell rating in a research report on Friday, October 4th. ValuEngine upgraded Virtus Investment Partners from a strong sell rating to a sell rating in a research report on Thursday, October 3rd. Zacks Investment Research upgraded Virtus Investment Partners from a hold rating to a strong-buy rating and set a $122.00 target price on the stock in a research report on Saturday, July 13th. Finally, Bank of America decreased their target price on Virtus Investment Partners from $123.00 to $110.00 and set a neutral rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $108.33.

Shares of Virtus Investment Partners stock opened at $90.90 on Tuesday. The stock’s 50-day simple moving average is $108.39 and its 200-day simple moving average is $108.53. Virtus Investment Partners has a 52 week low of $70.00 and a 52 week high of $126.55. The company has a market capitalization of $631.30 million, a price-to-earnings ratio of 7.41, a PEG ratio of 1.10 and a beta of 1.54. The company has a quick ratio of 27.91, a current ratio of 27.91 and a debt-to-equity ratio of 0.55.

Virtus Investment Partners (NASDAQ:VRTS) last announced its quarterly earnings data on Friday, July 26th. The closed-end fund reported $3.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.41 by $0.22. Virtus Investment Partners had a return on equity of 21.29% and a net margin of 13.86%. The business had revenue of $140.49 million for the quarter, compared to the consensus estimate of $144.92 million. During the same period in the previous year, the business earned $2.73 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts expect that Virtus Investment Partners will post 13.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.67 dividend. This is an increase from Virtus Investment Partners’s previous quarterly dividend of $0.55. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, October 30th. Virtus Investment Partners’s payout ratio is currently 17.94%.

Several large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its position in shares of Virtus Investment Partners by 111.1% in the third quarter. State of Alaska Department of Revenue now owns 5,018 shares of the closed-end fund’s stock worth $554,000 after buying an additional 2,641 shares in the last quarter. Macquarie Group Ltd. increased its stake in Virtus Investment Partners by 3.9% during the second quarter. Macquarie Group Ltd. now owns 15,619 shares of the closed-end fund’s stock worth $1,677,000 after acquiring an additional 587 shares during the last quarter. Royal Bank of Canada increased its stake in Virtus Investment Partners by 0.7% during the second quarter. Royal Bank of Canada now owns 135,578 shares of the closed-end fund’s stock worth $14,562,000 after acquiring an additional 916 shares during the last quarter. HM Payson & Co. bought a new stake in Virtus Investment Partners during the second quarter worth approximately $193,000. Finally, Susquehanna International Group LLP bought a new stake in Virtus Investment Partners during the second quarter worth approximately $260,000. Institutional investors own 90.34% of the company’s stock.

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.

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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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