Morgan Stanley Cuts Virtus Investment Partners (NASDAQ:VRTS) Price Target to $118.00

Virtus Investment Partners (NASDAQ:VRTS) had its price target reduced by Morgan Stanley from $121.00 to $118.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the closed-end fund’s stock.

A number of other analysts have also commented on VRTS. Zacks Investment Research upgraded GRIFOLS S A/S from a sell rating to a hold rating in a report on Friday, April 12th. ValuEngine upgraded YPF from a sell rating to a hold rating in a report on Monday, June 24th. Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the company a hold rating in a research note on Thursday, June 6th. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Finally, TheStreet upgraded ZTO Express (Cayman) from a c+ rating to a b rating in a research note on Thursday, May 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $111.00.

Shares of NASDAQ:VRTS opened at $111.13 on Tuesday. The stock has a market capitalization of $776.47 million, a PE ratio of 9.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.63. Virtus Investment Partners has a 12-month low of $70.00 and a 12-month high of $134.25. The firm’s 50 day moving average is $106.07.



Virtus Investment Partners (NASDAQ:VRTS) last announced its earnings results on Friday, April 26th. The closed-end fund reported $2.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.42. The company had revenue of $130.70 million for the quarter, compared to analysts’ expectations of $131.64 million. Virtus Investment Partners had a return on equity of 20.19% and a net margin of 13.35%. Virtus Investment Partners’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 earnings per share. As a group, equities analysts predict that Virtus Investment Partners will post 13.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, July 30th. Virtus Investment Partners’s payout ratio is 17.94%.

Institutional investors have recently bought and sold shares of the stock. Neuburgh Advisers LLC grew its position in Virtus Investment Partners by 14.8% during the fourth quarter. Neuburgh Advisers LLC now owns 992 shares of the closed-end fund’s stock worth $79,000 after buying an additional 128 shares in the last quarter. Bank of New York Mellon Corp grew its position in Virtus Investment Partners by 11.0% during the fourth quarter. Bank of New York Mellon Corp now owns 104,923 shares of the closed-end fund’s stock worth $8,334,000 after buying an additional 10,410 shares in the last quarter. Principal Financial Group Inc. grew its position in Virtus Investment Partners by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 58,025 shares of the closed-end fund’s stock worth $4,609,000 after buying an additional 164 shares in the last quarter. GYL Financial Synergies LLC purchased a new position in Virtus Investment Partners during the first quarter worth about $979,000. Finally, Thrivent Financial for Lutherans grew its position in Virtus Investment Partners by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,154 shares of the closed-end fund’s stock worth $409,000 after buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 93.80% of the company’s stock.

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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