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

Virtus Investment Partners (NASDAQ:VRTS) is expected to issue its results before the market opens on Friday, October 24th. Analysts expect Virtus Investment Partners to post earnings of $6.77 per share and revenue of $198.8160 million for the quarter.

Virtus Investment Partners (NASDAQ:VRTS) last issued its quarterly earnings data on Friday, July 25th. The closed-end fund reported $6.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.08. The firm had revenue of $210.53 million during the quarter, compared to analysts’ expectations of $191.90 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%.During the same period in the previous year, the firm posted $6.53 earnings per share. 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 Down 1.9%

Virtus Investment Partners stock opened at $177.09 on Wednesday. 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 market capitalization of $1.20 billion, a price-to-earnings ratio of 10.48 and a beta of 1.43. The stock’s fifty day moving average is $192.88 and its two-hundred day moving average is $182.35. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $2.40 dividend. This represents a $9.60 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Friday, October 31st. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.25. Virtus Investment Partners’s dividend payout ratio is currently 46.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VRTS. Morgan Stanley dropped their price objective on shares of Virtus Investment Partners from $180.00 to $170.00 and set an “underweight” rating for the company in a research note on Tuesday. Piper Sandler raised their target price on shares of Virtus Investment Partners from $211.00 to $234.00 and gave the stock an “overweight” rating in a research report on Monday, July 21st. Finally, Barclays lowered their price target on Virtus Investment Partners from $190.00 to $175.00 and set an “underweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Virtus Investment Partners has an average rating of “Reduce” and a consensus target price of $184.25.

Hedge Funds Weigh In On Virtus Investment Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in Virtus Investment Partners by 90.4% in the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund’s stock valued at $57,000 after acquiring an additional 150 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Virtus Investment Partners in the 2nd quarter valued at about $147,000. Oxford Asset Management LLP bought a new stake in shares of Virtus Investment Partners during the second quarter valued at approximately $217,000. Cerity Partners LLC acquired a new position in Virtus Investment Partners during the 2nd quarter worth $365,000. Finally, Quantinno Capital Management LP lifted its holdings in Virtus Investment Partners by 56.4% in the second quarter. Quantinno Capital Management LP now owns 2,114 shares of the closed-end fund’s stock worth $383,000 after purchasing an additional 762 shares during the period. 80.52% of the stock is currently owned by hedge funds and other 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.