Virtus Investment Partners Inc (VRTS) Forecasted to Earn FY2017 Earnings of $7.63 Per Share

Virtus Investment Partners Inc (NASDAQ:VRTS) – Investment analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for Virtus Investment Partners in a research note issued on Wednesday. Jefferies Group analyst S. Thind now expects that the closed-end fund will post earnings of $7.63 per share for the year, up from their previous forecast of $7.59. Jefferies Group has a “Hold” rating and a $127.00 price target on the stock. Jefferies Group also issued estimates for Virtus Investment Partners’ Q4 2017 earnings at $2.46 EPS, Q1 2018 earnings at $2.61 EPS, Q2 2018 earnings at $3.02 EPS, Q3 2018 earnings at $3.26 EPS, Q4 2018 earnings at $3.44 EPS, FY2018 earnings at $12.34 EPS and FY2019 earnings at $13.89 EPS.

VRTS has been the topic of several other research reports. Zacks Investment Research raised Virtus Investment Partners from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective on the stock in a report on Thursday, September 28th. Bank of America raised Virtus Investment Partners from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $112.00 to $130.00 in a report on Monday, October 9th. Barclays upped their price objective on Virtus Investment Partners from $116.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday, October 30th. BidaskClub downgraded Virtus Investment Partners from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Morgan Stanley set a $123.00 price objective on Virtus Investment Partners and gave the stock an “equal weight” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $130.63.

Shares of Virtus Investment Partners (NASDAQ VRTS) opened at $129.80 on Friday. The company has a market capitalization of $929.11, a P/E ratio of 25.35, a P/E/G ratio of 0.47 and a beta of 1.89. Virtus Investment Partners has a 12-month low of $97.60 and a 12-month high of $130.13.

Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings results on Friday, October 27th. The closed-end fund reported $2.30 EPS for the quarter, missing the Zacks’ consensus estimate of $2.38 by ($0.08). The business had revenue of $123.70 million for the quarter, compared to the consensus estimate of $116.85 million. Virtus Investment Partners had a return on equity of 12.75% and a net margin of 11.64%. The firm’s revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share.

Large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its stake in shares of Virtus Investment Partners by 9.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 32,624 shares of the closed-end fund’s stock valued at $3,620,000 after purchasing an additional 2,699 shares during the period. Rhumbline Advisers lifted its stake in shares of Virtus Investment Partners by 9.4% in the 2nd quarter. Rhumbline Advisers now owns 15,863 shares of the closed-end fund’s stock valued at $1,760,000 after purchasing an additional 1,358 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Virtus Investment Partners by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 88,833 shares of the closed-end fund’s stock valued at $9,855,000 after purchasing an additional 2,760 shares during the period. Legal & General Group Plc lifted its stake in shares of Virtus Investment Partners by 17.4% in the 2nd quarter. Legal & General Group Plc now owns 12,090 shares of the closed-end fund’s stock valued at $1,341,000 after purchasing an additional 1,796 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Virtus Investment Partners by 52.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,475 shares of the closed-end fund’s stock valued at $275,000 after purchasing an additional 848 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.39%. The ex-dividend date is Tuesday, January 30th. Virtus Investment Partners’s dividend payout ratio is 35.16%.

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Virtus Investment Partners Company Profile

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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