Virtus Investment Partners, Inc. (NASDAQ:VRTS) Declares Quarterly Dividend of $1.90

Virtus Investment Partners, Inc. (NASDAQ:VRTS) declared a quarterly dividend on Thursday, February 22nd, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 1.90 per share by the closed-end fund on Wednesday, May 15th. This represents a $7.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, April 29th.

Virtus Investment Partners has a payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Virtus Investment Partners to earn $29.45 per share next year, which means the company should continue to be able to cover its $7.60 annual dividend with an expected future payout ratio of 25.8%.

Virtus Investment Partners Trading Down 1.4 %

Shares of VRTS opened at $227.58 on Friday. The stock has a market capitalization of $1.63 billion, a PE ratio of 13.71 and a beta of 1.52. The firm’s 50 day moving average is $235.74 and its 200-day moving average is $221.72. Virtus Investment Partners has a 12 month low of $165.00 and a 12 month high of $263.39.

Virtus Investment Partners (NASDAQ:VRTS) last released its earnings results on Friday, April 26th. The closed-end fund reported $5.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $5.41. Virtus Investment Partners had a return on equity of 18.83% and a net margin of 15.45%. The firm had revenue of $200.24 million during the quarter, compared to the consensus estimate of $203.54 million. Equities research analysts predict that Virtus Investment Partners will post 27.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Virtus Investment Partners from $211.00 to $224.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. StockNews.com cut Virtus Investment Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. TD Cowen lowered Virtus Investment Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $285.00 to $264.00 in a research note on Monday, April 8th. Finally, Piper Sandler increased their target price on shares of Virtus Investment Partners from $264.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th.

About Virtus Investment Partners

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.