Virtus Investment Partners (VRTS) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Virtus Investment Partners (NASDAQ:VRTS) from a hold rating to a buy rating in a research note released on Wednesday.

Several other analysts have also weighed in on the company. Credit Suisse Group set a $173.00 price target on Virtus Investment Partners and gave the company an outperform rating in a report on Tuesday. Sandler O’Neill restated a hold rating and set a $136.00 price target on shares of Virtus Investment Partners in a report on Monday. Barclays increased their price target on Virtus Investment Partners from $133.00 to $140.00 and gave the company an equal weight rating in a report on Monday. Zacks Investment Research upgraded Virtus Investment Partners from a hold rating to a buy rating and set a $145.00 price target on the stock in a report on Saturday, January 13th. Finally, Goldman Sachs Group upgraded Virtus Investment Partners from a sell rating to a neutral rating and set a $130.00 target price on the stock in a research note on Tuesday, January 9th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $139.63.

Shares of Virtus Investment Partners (NASDAQ:VRTS) opened at $126.55 on Wednesday. Virtus Investment Partners has a twelve month low of $97.60 and a twelve month high of $134.65. The firm has a market capitalization of $905.85, a price-to-earnings ratio of 34.20, a P/E/G ratio of 0.29 and a beta of 1.79.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.42 by $0.18. Virtus Investment Partners had a return on equity of 13.93% and a net margin of 8.70%. The company had revenue of $128.00 million for the quarter, compared to analyst estimates of $127.09 million. During the same quarter in the prior year, the firm posted $1.75 EPS. Virtus Investment Partners’s quarterly revenue was up 60.2% compared to the same quarter last year. analysts forecast that Virtus Investment Partners will post 11.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.42%. Virtus Investment Partners’s payout ratio is 48.65%.

Hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its position in shares of Virtus Investment Partners by 9.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 32,624 shares of the closed-end fund’s stock worth $3,620,000 after buying an additional 2,699 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Virtus Investment Partners by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 4,397 shares of the closed-end fund’s stock worth $488,000 after buying an additional 21 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Virtus Investment Partners by 21.2% during the 2nd quarter. Alliancebernstein L.P. now owns 9,723 shares of the closed-end fund’s stock worth $1,079,000 after buying an additional 1,700 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Virtus Investment Partners by 21.6% during the 2nd quarter. Teachers Advisors LLC now owns 11,940 shares of the closed-end fund’s stock worth $1,325,000 after buying an additional 2,121 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Virtus Investment Partners by 28.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 17,891 shares of the closed-end fund’s stock worth $1,985,000 after buying an additional 3,979 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

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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.

Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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