Fintel reports that on July 25, 2023, Morgan Stanley maintained coverage of Virtus Investment Partners (NASDAQ:VRTS) with a Underweight recommendation.
Analyst Price Forecast Suggests 3.62% Downside
As of July 6, 2023, the average one-year price target for Virtus Investment Partners is 209.10. The forecasts range from a low of 151.50 to a high of $273.00. The average price target represents a decrease of 3.62% from its latest reported closing price of 216.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Virtus Investment Partners is 754MM, a decrease of 9.30%. The projected annual non-GAAP EPS is 24.03.
Virtus Investment Partners Declares $1.65 Dividend
On May 18, 2023 the company declared a regular quarterly dividend of $1.65 per share ($6.60 annualized). Shareholders of record as of July 31, 2023 will receive the payment on August 15, 2023. Previously, the company paid $1.65 per share.
At the current share price of $216.95 / share, the stock's dividend yield is 3.04%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.41%, the lowest has been 1.05%, and the highest has been 4.68%. The standard deviation of yields is 0.78 (n=234).
The current dividend yield is 0.81 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.39. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.46%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 491 funds or institutions reporting positions in Virtus Investment Partners. This is an increase of 3 owner(s) or 0.61% in the last quarter. Average portfolio weight of all funds dedicated to VRTS is 0.17%, a decrease of 33.95%. Total shares owned by institutions decreased in the last three months by 0.64% to 8,793K shares.
What are Other Shareholders Doing?
CPMPX - Changing Parameters Fund holds 1,896K shares representing 26.01% ownership of the company.
IJR - iShares Core S&P Small-Cap ETF holds 495K shares representing 6.80% ownership of the company. In it's prior filing, the firm reported owning 504K shares, representing a decrease of 1.67%. The firm decreased its portfolio allocation in VRTS by 4.96% over the last quarter.
T. Rowe Price Investment Management holds 437K shares representing 5.99% ownership of the company. In it's prior filing, the firm reported owning 433K shares, representing an increase of 0.74%. The firm decreased its portfolio allocation in VRTS by 6.39% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 269K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 269K shares, representing a decrease of 0.15%. The firm increased its portfolio allocation in VRTS by 0.29% over the last quarter.
Vulcan Value Partners holds 228K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 222K shares, representing an increase of 2.31%. The firm decreased its portfolio allocation in VRTS by 4.12% over the last quarter.
Virtus Investment Partners Background Information
(This description is provided by the company.)
Virtus Investment Partners is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process, and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Its affiliates include Ceredex Value Advisors, Duff & Phelps Investment Management, Kayne Anderson Rudnick Investment Management, Newfleet Asset Management, Seix Investment Advisors, Silvant Capital Management, Sustainable Growth Advisers, and Virtus ETF Solutions.
Additional reading:
- Third Amended and Restated Certificate of Incorporation of Virtus Investment Partners, Inc., dated May 17, 2023 (incorporated by reference to Exhibit 3.1 of the Registrant’s Current Report on Form 8-K, filed May 18, 2023).
- Amended and Restated Bylaws of Virtus Investment Partners, Inc., as amended on May 17, 2023 (incorporated by reference to Exhibit 3.2 of the Registrant’s Current Report on Form 8-K, filed May 18, 2023).
- VIRTUS INVESTMENT PARTNERS, INC. RESTRICTED STOCK UNIT GRANT AGREEMENT
- VIRTUS INVESTMENT PARTNERS, INC. PERFORMANCE SHARE UNIT GRANT AGREEMENT
- Virtus Investment Partners Announces Financial Results for First Quarter 2023
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
