Virtus Investment Partners Inc. to Post Q1 2018 Earnings of $2.41 Per Share, Jefferies Group Forecasts (VRTS)

Virtus Investment Partners Inc. (NASDAQ:VRTS) – Equities research analysts at Jefferies Group lowered their Q1 2018 earnings per share (EPS) estimates for Virtus Investment Partners in a report released on Monday, April 23rd. Jefferies Group analyst S. Thind now expects that the closed-end fund will post earnings per share of $2.41 for the quarter, down from their previous forecast of $2.42.

Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, February 2nd. The closed-end fund reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.18. The company had revenue of $128.00 million for the quarter, compared to analyst estimates of $127.09 million. Virtus Investment Partners had a net margin of 8.70% and a return on equity of 13.75%. Virtus Investment Partners’s revenue was up 60.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS.

Several other research firms have also weighed in on VRTS. Zacks Investment Research upgraded shares of Virtus Investment Partners from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Saturday, January 13th. BidaskClub lowered shares of Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Sandler O’Neill set a $136.00 price objective on shares of Virtus Investment Partners and gave the stock a “hold” rating in a report on Monday, February 5th. Barclays upped their price objective on shares of Virtus Investment Partners from $133.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. Finally, Morgan Stanley upped their price objective on shares of Virtus Investment Partners from $127.00 to $136.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $137.88.

NASDAQ:VRTS opened at $114.60 on Tuesday. The company has a current ratio of 17.17, a quick ratio of 17.17 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $836.14, a price-to-earnings ratio of 14.92, a PEG ratio of 0.30 and a beta of 1.65. Virtus Investment Partners has a 1-year low of $97.60 and a 1-year high of $135.90.

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Virtus Investment Partners by 1,798.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,804 shares of the closed-end fund’s stock worth $209,000 after acquiring an additional 1,709 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Virtus Investment Partners in the 4th quarter worth approximately $287,000. MetLife Investment Advisors LLC acquired a new position in shares of Virtus Investment Partners in the 4th quarter worth approximately $373,000. Pinebridge Investments L.P. lifted its holdings in shares of Virtus Investment Partners by 436.0% in the 4th quarter. Pinebridge Investments L.P. now owns 4,803 shares of the closed-end fund’s stock worth $552,000 after acquiring an additional 3,907 shares during the last quarter. Finally, Quantitative Investment Management LLC lifted its holdings in shares of Virtus Investment Partners by 48.5% in the 4th quarter. Quantitative Investment Management LLC now owns 4,900 shares of the closed-end fund’s stock worth $563,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. Virtus Investment Partners’s dividend payout ratio is currently 23.44%.

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Virtus Investment Partners Company Profile

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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