Virtus Investment Partners Inc (NASDAQ:VRTS) announced a quarterly dividend on Friday, February 17th. Stockholders of record on Friday, April 28th will be given a dividend of 0.45 per share by the closed-end fund on Wednesday, May 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Wednesday, April 26th.
Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at 111.50 on Friday. The firm has a market capitalization of $760.32 million, a P/E ratio of 17.98 and a beta of 1.84. The stock’s 50 day moving average price is $106.78 and its 200-day moving average price is $110.20. Virtus Investment Partners has a 12-month low of $67.76 and a 12-month high of $128.10.
Virtus Investment Partners (NASDAQ:VRTS) last posted its quarterly earnings results on Wednesday, January 25th. The closed-end fund reported $1.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.80 by $0.05. The business had revenue of $79.90 million for the quarter, compared to the consensus estimate of $81.07 million. Virtus Investment Partners had a return on equity of 9.22% and a net margin of 15.04%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. On average, equities analysts expect that Virtus Investment Partners will post $7.71 EPS for the current year.
VRTS has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Virtus Investment Partners from a “strong-buy” rating to a “hold” rating in a research note on Saturday, December 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $124.00 target price on shares of Virtus Investment Partners in a research note on Wednesday, January 11th. Finally, Bank of America Corp initiated coverage on shares of Virtus Investment Partners in a research note on Tuesday, January 31st. They issued an “underperform” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Virtus Investment Partners currently has a consensus rating of “Hold” and an average target price of $116.50.
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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.
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