Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) released its quarterly earnings data on Friday. The closed-end fund reported $5.73 EPS for the quarter, beating the consensus estimate of $5.68 by $0.05, RTT News reports. The business had revenue of $217.93 million for the quarter, compared to the consensus estimate of $201.99 million. Virtus Investment Partners had a net margin of 13.42% and a return on equity of 21.56%. During the same period in the prior year, the firm earned $5.41 EPS.
Virtus Investment Partners Price Performance
Shares of NASDAQ:VRTS traded up $1.14 during midday trading on Monday, hitting $154.42. The company's stock had a trading volume of 45,868 shares, compared to its average volume of 40,400. The business's 50 day simple moving average is $167.33 and its 200 day simple moving average is $201.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86. The company has a market cap of $1.07 billion, a P/E ratio of 9.14 and a beta of 1.36. Virtus Investment Partners has a 12-month low of $142.18 and a 12-month high of $252.82.
Virtus Investment Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 5.83%. The ex-dividend date is Wednesday, April 30th. Virtus Investment Partners's dividend payout ratio is currently 53.41%.
Analysts Set New Price Targets
VRTS has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Virtus Investment Partners from $211.00 to $198.00 and set an "underweight" rating on the stock in a research note on Thursday, February 6th. Piper Sandler cut their price objective on shares of Virtus Investment Partners from $216.00 to $211.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. TD Cowen cut their price objective on shares of Virtus Investment Partners from $220.00 to $158.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Barclays set a $150.00 price target on shares of Virtus Investment Partners and gave the company an "underweight" rating in a research report on Monday. Finally, StockNews.com lowered shares of Virtus Investment Partners from a "buy" rating to a "hold" rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Virtus Investment Partners presently has an average rating of "Hold" and an average target price of $179.25.
Check Out Our Latest Research Report on Virtus Investment Partners
About Virtus Investment Partners
(
Get Free Report)
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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