Virtus Investment Partners Inc (NASDAQ:VRTS) Expected to Post Earnings of $3.48 Per Share
Equities research analysts predict that Virtus Investment Partners Inc (NASDAQ:VRTS) will report earnings of $3.48 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Virtus Investment Partners’ earnings. Virtus Investment Partners reported earnings of $3.64 per share in the same quarter last year, which would indicate a negative year over year growth rate of 4.4%. The firm is expected to issue its next quarterly earnings results on Friday, July 26th.
On average, analysts expect that Virtus Investment Partners will report full-year earnings of $13.44 per share for the current year, with EPS estimates ranging from $13.10 to $13.78. For the next year, analysts anticipate that the business will post earnings of $13.81 per share, with EPS estimates ranging from $12.62 to $15.00. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Virtus Investment Partners.
Virtus Investment Partners (NASDAQ:VRTS) last released its quarterly earnings data on Friday, July 26th. The closed-end fund reported $3.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.41 by $0.22. Virtus Investment Partners had a net margin of 13.86% and a return on equity of 21.42%. The company had revenue of $140.49 million for the quarter, compared to analysts’ expectations of $144.92 million. During the same quarter in the prior year, the firm earned $2.73 EPS. The business’s revenue was up 5.7% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in VRTS. Principal Financial Group Inc. grew its stake in Virtus Investment Partners by 0.3% during the 4th 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 during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $8,334,000 after purchasing an additional 10,410 shares during the last quarter. GYL Financial Synergies LLC purchased a new stake in Virtus Investment Partners in the 1st quarter worth about $979,000. Thrivent Financial for Lutherans lifted its stake in Virtus Investment Partners by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 5,154 shares of the closed-end fund’s stock worth $409,000 after acquiring an additional 113 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Virtus Investment Partners in the 1st quarter worth about $1,817,000. 94.21% of the stock is currently owned by institutional investors.
NASDAQ:VRTS traded down $2.60 during midday trading on Monday, reaching $110.50. The stock had a trading volume of 129,400 shares, compared to its average volume of 75,324. The business’s fifty day simple moving average is $107.14. Virtus Investment Partners has a 12-month low of $70.00 and a 12-month high of $134.25. The stock has a market cap of $788.47 million, a PE ratio of 9.01, a P/E/G ratio of 1.68 and a beta of 1.64.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, July 30th. Virtus Investment Partners’s payout ratio is 17.94%.
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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