Credit Suisse Group Analysts Give Virtus Investment Partners (VRTS) a $150.00 Price Target

Credit Suisse Group set a $150.00 price objective on Virtus Investment Partners (NASDAQ:VRTS) in a research note issued to investors on Monday. The firm currently has a buy rating on the closed-end fund’s stock.

VRTS has been the subject of a number of other reports. Zacks Investment Research raised Virtus Investment Partners from a hold rating to a buy rating and set a $126.00 price target for the company in a report on Saturday, October 13th. Barclays raised their price target on Virtus Investment Partners from $132.00 to $140.00 and gave the company an equal weight rating in a report on Monday, July 30th. Morgan Stanley raised their price target on Virtus Investment Partners from $137.00 to $144.00 and gave the company an equal weight rating in a report on Thursday, July 12th. BidaskClub cut Virtus Investment Partners from a buy rating to a hold rating in a report on Wednesday, August 29th. Finally, ValuEngine cut Virtus Investment Partners from a hold rating to a sell rating in a report on Wednesday, July 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $134.67.

Virtus Investment Partners stock opened at $99.01 on Monday. The company has a quick ratio of 27.62, a current ratio of 27.62 and a debt-to-equity ratio of 0.46. The company has a market cap of $732.88 million, a P/E ratio of 12.89, a P/E/G ratio of 0.33 and a beta of 1.55. Virtus Investment Partners has a one year low of $97.50 and a one year high of $138.02.



Virtus Investment Partners (NASDAQ:VRTS) last posted its earnings results on Friday, October 26th. The closed-end fund reported $3.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.34 by $0.30. The business had revenue of $152.20 million during the quarter, compared to the consensus estimate of $149.06 million. Virtus Investment Partners had a return on equity of 19.38% and a net margin of 14.55%. Virtus Investment Partners’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned $2.30 EPS. On average, equities research analysts forecast that Virtus Investment Partners will post 12.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.22%. This is a boost from Virtus Investment Partners’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, October 30th. Virtus Investment Partners’s dividend payout ratio (DPR) is currently 23.44%.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Virtus Investment Partners by 9.3% during the 2nd quarter. BlackRock Inc. now owns 1,016,158 shares of the closed-end fund’s stock valued at $130,017,000 after purchasing an additional 86,152 shares in the last quarter. Vulcan Value Partners LLC increased its stake in shares of Virtus Investment Partners by 106.9% in the 2nd quarter. Vulcan Value Partners LLC now owns 533,272 shares of the closed-end fund’s stock valued at $69,475,000 after buying an additional 275,535 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Virtus Investment Partners by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 523,177 shares of the closed-end fund’s stock valued at $66,941,000 after buying an additional 6,017 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Virtus Investment Partners by 2.7% in the 3rd quarter. Peregrine Capital Management LLC now owns 170,053 shares of the closed-end fund’s stock valued at $19,344,000 after buying an additional 4,503 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Virtus Investment Partners by 183.9% in the 2nd quarter. Millennium Management LLC now owns 93,920 shares of the closed-end fund’s stock valued at $12,017,000 after buying an additional 60,838 shares during the period. 97.51% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Virtus Investment Partners (NASDAQ:VRTS)

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