Virtus Investment Partners (VRTS) Projected to Post Earnings on Friday

Virtus Investment Partners (NASDAQ:VRTS) is projected to announce its results before the market opens on Friday, October 30th. Analysts expect the company to post earnings of $5.78 per share and revenue of $181.36 million for the quarter.

Virtus Investment Partners Trading Up 1.7%

Shares of Virtus Investment Partners stock opened at $123.17 on Thursday. The stock has a market capitalization of $815.74 million, a PE ratio of 7.29 and a beta of 1.41. Virtus Investment Partners has a 52 week low of $117.44 and a 52 week high of $175.66. The stock has a 50 day moving average price of $139.46 and a two-hundred day moving average price of $145.82. The company has a debt-to-equity ratio of 0.27, a quick ratio of 11.86 and a current ratio of 11.86.

Virtus Investment Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be given a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Virtus Investment Partners’s previous quarterly dividend of $2.40. This represents a $9.80 dividend on an annualized basis and a dividend yield of 8.0%. Virtus Investment Partners’s payout ratio is currently 55.84%.

Analyst Upgrades and Downgrades

VRTS has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Virtus Investment Partners from $130.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, September 25th. TD Cowen decreased their price target on shares of Virtus Investment Partners from $155.00 to $136.00 and set a “hold” rating for the company in a research note on Monday, October 12th. Barclays lowered their price objective on shares of Virtus Investment Partners from $135.00 to $117.00 and set an “underweight” rating on the stock in a report on Wednesday, October 14th. Piper Sandler lowered their price objective on shares of Virtus Investment Partners from $172.00 to $146.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, Zacks Research lowered shares of Virtus Investment Partners from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $129.75.

Insider Buying and Selling

In related news, EVP Michael Angerthal sold 14,975 shares of Virtus Investment Partners stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $167.34, for a total transaction of $2,505,916.50. Following the transaction, the executive vice president owned 63,461 shares of the company’s stock, valued at $10,619,563.74. The trade was a 19.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director W. Morris sold 435 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $138.59, for a total value of $60,286.65. The disclosure for this sale is available in the SEC filing. 6.40% of the stock is owned by company insiders.

About Virtus Investment Partners

Virtus Investment Partners, Inc is an asset management company that provides investment products and services to individual and institutional investors. The company operates as a multi-boutique investment firm, partnering with affiliated and unaffiliated investment managers that offer specialized expertise across a range of asset classes and investment strategies.

Virtus distributes mutual funds, exchange-traded funds, separately managed accounts, closed-end funds and other investment solutions.