Research Analysts Set Expectations for Virtus Investment Partners, Inc.’s FY2019 Earnings (VRTS)

Virtus Investment Partners, Inc. (NASDAQ:VRTS) – Stock analysts at Jefferies Group issued their FY2019 earnings per share estimates for shares of Virtus Investment Partners in a research note issued on Tuesday. Jefferies Group analyst S. Thind forecasts that the closed-end fund will post earnings of $12.36 per share for the year. Jefferies Group has a “Hold” rating and a $127.00 price objective on the stock.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, July 28th. The closed-end fund reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.05). Virtus Investment Partners had a net margin of 12.13% and a return on equity of 11.35%. The firm had revenue of $94.10 million for the quarter, compared to analysts’ expectations of $91.78 million. During the same quarter last year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year.

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Several other research firms have also commented on VRTS. Credit Suisse Group raised their price target on shares of Virtus Investment Partners from $141.00 to $147.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Morgan Stanley set a $110.00 price target on shares of Virtus Investment Partners and gave the company a “hold” rating in a research report on Monday, July 17th. BidaskClub upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Finally, ValuEngine lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Virtus Investment Partners has an average rating of “Hold” and an average target price of $129.33.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a $0.45 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. Virtus Investment Partners’s dividend payout ratio (DPR) is 35.02%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Virtus Investment Partners by 0.5% in the second quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock valued at $488,000 after purchasing an additional 21 shares during the period. Sterling Capital Management LLC grew its position in shares of Virtus Investment Partners by 0.8% in the second quarter. Sterling Capital Management LLC now owns 7,712 shares of the closed-end fund’s stock valued at $856,000 after purchasing an additional 58 shares during the period. Prudential Financial Inc. grew its position in shares of Virtus Investment Partners by 0.5% in the second quarter. Prudential Financial Inc. now owns 11,278 shares of the closed-end fund’s stock valued at $1,251,000 after purchasing an additional 60 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Virtus Investment Partners by 3.8% in the second quarter. Louisiana State Employees Retirement System now owns 2,700 shares of the closed-end fund’s stock valued at $300,000 after purchasing an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its position in shares of Virtus Investment Partners by 6.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 1,570 shares of the closed-end fund’s stock valued at $174,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

About Virtus Investment Partners

Virtus Investment Partners, Inc (Virtus) is a provider of investment management and related services to individuals and institutions. The Company provides its products in various forms and through multiple distribution channels. Its retail products include open-end mutual funds, closed-end funds, exchange traded funds, variable insurance funds, undertakings for collective investments in transferable securities (UCITS) and separately managed accounts.

Earnings History and Estimates for Virtus Investment Partners (NASDAQ:VRTS)

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