Declared Dividend • May 24
Dividend of US$2.40 announced Shareholders will receive a dividend of US$2.40. Ex-date: 31st July 2026 Payment date: 14th August 2026 Dividend yield will be 6.7%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 2.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 22
Virtus Investment Partners, Inc. announces Quarterly dividend, payable on August 14, 2026 Virtus Investment Partners, Inc. announced Quarterly dividend of USD 2.4000 per share payable on August 14, 2026, ex-date on July 31, 2026 and record date on July 31, 2026. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: US$1.07 (vs US$4.12 in 1Q 2025) First quarter 2026 results: EPS: US$1.07 (down from US$4.12 in 1Q 2025). Revenue: US$199.5m (down 8.4% from 1Q 2025). Net income: US$7.13m (down 75% from 1Q 2025). Profit margin: 3.6% (down from 13% in 1Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 6.9% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 5.9%. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 23
Upcoming dividend of US$2.40 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 13 May 2026. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of American dividend payers (4.2%). Higher than average of industry peers (2.0%). Announcement • Apr 23
Virtus Introduces Virtus Silvant Small/Mid Growth ETF Virtus Investment Partners, Inc. has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus Silvant Small/Mid Growth ETF, managed by Silvant Capital Management LLC (“Silvant”). The newly launched fund is the 26th ETF offered through Virtus’ multi-manager ETF platform, Virtus ETF Solutions. The strategy of the Virtus Silvant Small/Mid Growth ETF is to generate capital appreciation by investing in approximately 70 to 90 equity securities of U.S. small- and mid-cap companies that the portfolio management team believes are positioned to benefit from secular trends or company-specific growth drivers. The strategy emphasizes companies with disruptive products or services, strong profitability metrics, and the potential to grow earnings. Silvant applies a disciplined, bottom-up investment process that views growth as a condition rather than a static category. Through extensive fundamental research, the portfolio management team seeks to identify high-conviction ideas across the market, including companies that may fall outside traditional growth classifications. Portfolio construction incorporates risk control considerations while maintaining flexibility across market environments. Announcement • Apr 16
Virtus Investment Partners, Inc. Introduces Virtus Duff & Phelps Real Estate Income ETF Virtus Investment Partners, Inc. has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus Duff & Phelps Real Estate Income ETF, managed by Duff & Phelps Investment Management Co. (“Duff & Phelps”). The newly launched fund is the 25 ETF offered through Virtus’ multi-manager ETF platform, Virtus ETF Solutions. The Virtus Duff & Phelps Real Estate Income ETF seeks to provide a high level of current income, with capital appreciation as a secondary goal, by investing in an opportunistically balanced portfolio of high-quality equity REITs (60%–80%) and investment-grade, real estate-focused debt and preferred securities (20%–40%). This multi-asset approach is designed to deliver above-average yield potential while mitigating volatility compared with an all-equity REIT portfolio. The new fund leverages Duff & Phelps’ longstanding expertise in listed real estate. Founded in 1932, Duff & Phelps is a specialized real assets manager with a deep history of active security selection across equity and fixed income real estate markets. The firm employs a bottom-up investment process that emphasizes fundamental research, intrinsic value analysis, and disciplined portfolio construction. Announcement • Apr 11
Virtus Investment Partners, Inc. to Report Q1, 2026 Results on May 01, 2026 Virtus Investment Partners, Inc. announced that they will report Q1, 2026 results on May 01, 2026 Announcement • Apr 08
Virtus Investment Partners, Inc., Annual General Meeting, May 20, 2026 Virtus Investment Partners, Inc., Annual General Meeting, May 20, 2026. Location: one financial plaza, 19th floor, connecticut, 06103, hartford United States Announcement • Mar 03
Virtus Investment Partners, Inc. (NYSE:VRTS) completed the acquisition of 56% stake in Keystone National Group, LLC. Virtus Investment Partners, Inc. (NYSE:VRTS) entered into a definitive agreement to acquire 56% stake in Keystone National Group, LLC for $370 million on December 5, 2025. A cash consideration of $200 million will be paid by Virtus Investment Partners, Inc. Virtus Investment Partners, Inc. will pay an earnout/contingent payment of $170 million cash. Keystone’s management team will retain 44% equity in Keystone and the managing partners will enter into long-term employment agreements. Virtus expects to finance the transaction using existing balance sheet resources. Keystone will continue to operate its business with the same investment teams and under the same leadership.
The transaction is subject to approval of merger agreement by target board and approval of offer by target shareholders. The transaction is expected to close in the first quarter of 2026. The transaction has been approved by the board of Keystone National Group, LLC.
RBC Capital Markets, LLC acted as financial advisor for Virtus Investment Partners, Inc. Goodwin Procter LLP acted as legal advisor for Virtus Investment Partners, Inc. David Boston, Samir Patel, Geri Anne McEvoy, James Anderson, Brian Baltz and Christopher Peters of Willkie Farr & Gallagher LLP acted as legal advisors for Keystone National Group, LLC. BofA Securities, Inc. acted as financial advisor for Keystone National Group, LLC.
Virtus Investment Partners, Inc. (NYSE:VRTS) completed the acquisition of 56% stake in Keystone National Group, LLC on March 1, 2026. Declared Dividend • Mar 01
Fourth quarter dividend of US$2.40 announced Shareholders will receive a dividend of US$2.40. Ex-date: 30th April 2026 Payment date: 13th May 2026 Dividend yield will be 6.8%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not adequately covered by cash flows (93% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 26
Virtus Investment Partners, Inc. Declares Cash Dividend for the First Quarter of 2026, Payable on May 13, 2026 Virtus Investment Partners, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $2.40 per common share for the first quarter of 2026. The dividend will be paid on May 13, 2026 to shareholders of record at the close of business on April 30, 2026. Future declarations of dividends will be subject to the approval of the Board of Directors. Recent Insider Transactions • Feb 12
Independent Non-Executive Director recently sold US$473k worth of stock On the 11th of February, Susan S. Cabrera sold around 3k shares on-market at roughly US$142 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth US$498k. Insiders have been net sellers, collectively disposing of US$971k more than they bought in the last 12 months. Price Target Changed • Feb 08
Price target decreased by 10% to US$162 Down from US$181, the current price target is an average from 4 analysts. New target price is 16% above last closing price of US$140. Stock is down 26% over the past year. The company posted earnings per share of US$20.27 last year. Reported Earnings • Feb 07
Full year 2025 earnings released: EPS: US$20.27 (vs US$17.19 in FY 2024) Full year 2025 results: EPS: US$20.27 (up from US$17.19 in FY 2024). Revenue: US$852.9m (down 6.0% from FY 2024). Net income: US$138.4m (up 14% from FY 2024). Profit margin: 16% (up from 13% in FY 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 4.1% p.a. on average during the next 2 years, while revenues in the Capital Markets industry in the US are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Jan 24
Virtus Investment Partners, Inc. to Report Q4, 2025 Results on Feb 06, 2026 Virtus Investment Partners, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 06, 2026 Upcoming Dividend • Jan 23
Upcoming dividend of US$2.40 per share Eligible shareholders must have bought the stock before 30 January 2026. Payment date: 11 February 2026. Payout ratio is a comfortable 46% and the cash payout ratio is 93%. Trailing yield: 5.7%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.8%). Buy Or Sell Opportunity • Jan 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to US$166. The fair value is estimated to be US$211, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.4%. Announcement • Dec 24
Virtus Investment Partners, Inc. Introduces Virtus Silvant Growth Opportunities ETF Virtus Investment Partners, Inc. has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus Silvant Growth Opportunities ETF managed by Silvant Capital Management. VGRO is the 26th ETF offering from Virtus' multi-manager ETF platform, Virtus ETF Solutions. Virtus Silvant Growth Opportun Opportunities ETF utilizes bottom-up fundamental research analysis to identify companies they believe provide the best potential growth opportunities to investors. The Silvant team is known for building all-weather portfolios on a bottom-up basis consisting of secular and cyclical growth stocks that do not necessarily require a particular style or factor bias to be in favor to outperform their peers in varied market conditions. Announcement • Dec 17
Virtus Investment Partners, Inc. (NYSE:VRTS) acquired 35% stake in Crescent Cove Advisors, LP. Virtus Investment Partners, Inc. (NYSE:VRTS) acquired 35% minority stake in Crescent Cove Advisors, LP on December 16, 2025. The transaction was funded through existing financial resources.
Goodwin Procter LLP acted as legal advisor for Virtus Investment Partners, Inc. Oppenheimer & Co. Inc. acted as financial advisor for Crescent Cove Advisors, LP. Morgan, Lewis & Bockius LLP acted as legal advisor for Crescent Cove Advisors, LP.
Virtus Investment Partners, Inc. (NYSE:VRTS) completed the acquisition of 35% minority stake in Crescent Cove Advisors, LP on December 16, 2025. Buy Or Sell Opportunity • Dec 16
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to US$166. The fair value is estimated to be US$208, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 3.4%. Recent Insider Transactions • Dec 14
Independent Non-Executive Director recently sold US$498k worth of stock On the 11th of December, Susan S. Cabrera sold around 3k shares on-market at roughly US$168 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Recent Insider Transactions Derivative • Dec 12
Independent Non-Executive Director notifies of intention to sell stock Susan S. Cabrera intends to sell 3k shares in the next 90 days after lodging an Intent To Sell Form on the 11th of December. If the sale is conducted around the recent share price of US$164, it would amount to US$487k. Since March 2025, Susan S.'s direct individual holding has increased from 15.98k shares to 16.64k. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Announcement • Dec 11
Virtus Investment Partners, Inc. Declares Cash Dividend on Common Stock Fourth Quarter of 2025, Payable on February 11, 2026 Virtus Investment Partners, Inc. announced that its Board of Directors has declared a quarterly common stock cash dividend of $2.40 per share for the fourth quarter of 2025. The dividend will be paid on February 11, 2026 to shareholders of record at the close of business on January 31, 2026. Future declarations of dividends will be subject to the approval of the Board of Directors. Announcement • Dec 06
Virtus Investment Partners, Inc. (NYSE:VRTS) entered into a definitive agreement to acquire 56% stake in Keystone National Group, LLC for $370 million. Virtus Investment Partners, Inc. (NYSE:VRTS) entered into a definitive agreement to acquire 56% stake in Keystone National Group, LLC for $370 million on December 5, 2025. A cash consideration of $200 million will be paid by Virtus Investment Partners, Inc. Virtus Investment Partners, Inc. will pay an earnout/contingent payment of $170 million cash. Keystone’s management team will retain 44% equity in Keystone and the managing partners will enter into long-term employment agreements. Virtus expects to finance the transaction using existing balance sheet resources.
The transaction is subject to approval of merger agreement by target board and approval of offer by target shareholders. The transaction is expected to close in the first quarter of 2026.
RBC Capital Markets, LLC acted as financial advisor for Virtus Investment Partners, Inc. Goodwin Procter LLP acted as legal advisor for Virtus Investment Partners, Inc. Willkie Farr & Gallagher LLP acted as legal advisor for Keystone National Group, LLC. BofA Securities, Inc. acted as financial advisor for Keystone National Group, LLC. Reported Earnings • Oct 26
Third quarter 2025 earnings released: EPS: US$4.73 (vs US$5.80 in 3Q 2024) Third quarter 2025 results: EPS: US$4.73 (down from US$5.80 in 3Q 2024). Revenue: US$216.4m (down 4.7% from 3Q 2024). Net income: US$31.9m (down 22% from 3Q 2024). Profit margin: 15% (down from 18% in 3Q 2024). Revenue is expected to decline by 4.2% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 6.9%. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has fallen by 2% per year. Buy Or Sell Opportunity • Oct 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to US$167. The fair value is estimated to be US$209, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Oct 24
New major risk - Revenue and earnings growth Earnings have declined by 1.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.6% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (206% cash payout ratio). Announcement • Oct 10
Virtus Investment Partners, Inc. to Report Q3, 2025 Results on Oct 24, 2025 Virtus Investment Partners, Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Oct 24, 2025 Declared Dividend • Aug 18
Dividend of US$2.40 announced Shareholders will receive a dividend of US$2.40. Ex-date: 31st October 2025 Payment date: 14th November 2025 Dividend yield will be 4.7%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (193% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 26% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 14
Virtus Investment Partners, Inc. Declares Dividend for the Third Quarter of 2025, Payable on November 14, 2025 Virtus Investment Partners, Inc. announced that its Board of Directors has declared a quarterly common stock cash dividend of $2.40 per share, representing a 7% increase from the previous quarterly dividend of $2.25 per share. The third quarter 2025 common stock dividend of $2.40 per share will be paid on November 14, 2025 to shareholders of record at the close of business on October 31, 2025. Announcement • Aug 05
Virtus Investment Partners, Inc. Introduces Virtus Alphasimplex Global Macro Etf Virtus Investment Partners, Inc. has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus AlphaSimplex Global Macro ETF. ASGM is the 21st ETF offering from Virtus' multi-manager ETF platform, Virtus ETF Solutions. Virtus AlphaSimplex Global macro ETF utilizes AlphaSimplex's proprietary research and dynamic risk management systems to analyze market behavior and adapt to changing market dynamics and seeks to produce long-term capital appreciation independent of market cycles. The goal is to outperform traditional long-only equity investments while helping to minimize losses during protracted periods of high market volatility. The actively managed ETF uniquely blends dedicated global equity exposures with systematic macro strategies, offering investors a powerful combination for navigating diverse market conditions. The global equity component aims to capture upside potential during positive market cycles, while the systematic macro strategies seek to provide diversification and help mitigate downside risk during volatile periods. Reported Earnings • Jul 27
Second quarter 2025 earnings released: EPS: US$6.18 (vs US$2.47 in 2Q 2024) Second quarter 2025 results: EPS: US$6.18 (up from US$2.47 in 2Q 2024). Revenue: US$210.5m (down 6.2% from 2Q 2024). Net income: US$42.4m (up 141% from 2Q 2024). Profit margin: 20% (up from 7.8% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 4.1% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 6.0%. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year. Upcoming Dividend • Jul 24
Upcoming dividend of US$2.25 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 15 August 2025. Payout ratio is a comfortable 51% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (1.9%). Price Target Changed • Jul 21
Price target increased by 9.0% to US$191 Up from US$175, the current price target is an average from 4 analysts. New target price is 8.1% below last closing price of US$207. Stock is down 14% over the past year. The company posted earnings per share of US$17.19 last year. Announcement • Jul 11
Virtus Investment Partners, Inc. to Report Q2, 2025 Results on Jul 25, 2025 Virtus Investment Partners, Inc. announced that they will report Q2, 2025 results on Jul 25, 2025 Declared Dividend • May 18
Dividend of US$2.25 announced Shareholders will receive a dividend of US$2.25. Ex-date: 31st July 2025 Payment date: 15th August 2025 Dividend yield will be 5.1%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (51% earnings payout ratio) but not covered by cash flows (241% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 15
Virtus Investment Partners, Inc. Declares Quarterly Dividend for the Second Quarter of 2025, Payable on August 15, 2025 Virtus Investment Partners, Inc. declared a quarterly cash dividend of $2.25 per common share for the second quarter of 2025. The dividend will be paid on August 15, 2025 to shareholders of record at the close of business on July 31, 2025. Future declarations of dividends will be subject to the approval of the Board of Directors. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: US$4.12 (vs US$4.19 in 1Q 2024) First quarter 2025 results: EPS: US$4.12 (down from US$4.19 in 1Q 2024). Revenue: US$217.9m (down 1.9% from 1Q 2024). Net income: US$28.6m (down 4.1% from 1Q 2024). Profit margin: 13% (in line with 1Q 2024). Revenue is expected to decline by 7.6% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 5.1%. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 5% per year. Upcoming Dividend • Apr 23
Upcoming dividend of US$2.25 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 14 May 2025. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 6.0%. Within top quartile of American dividend payers (5.1%). Higher than average of industry peers (2.4%). Announcement • Apr 12
Virtus Investment Partners, Inc. to Report Q1, 2025 Results on Apr 25, 2025 Virtus Investment Partners, Inc. announced that they will report Q1, 2025 results Pre-Market on Apr 25, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$147, the stock trades at a trailing P/E ratio of 8.4x. Average forward P/E is 12x in the Capital Markets industry in the US. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$247 per share. Price Target Changed • Apr 07
Price target decreased by 8.5% to US$208 Down from US$228, the current price target is an average from 4 analysts. New target price is 38% above last closing price of US$151. Stock is down 37% over the past year. The company posted earnings per share of US$17.19 last year. Announcement • Apr 04
Virtus Investment Partners, Inc., Annual General Meeting, May 14, 2025 Virtus Investment Partners, Inc., Annual General Meeting, May 14, 2025. Location: one financialplaza, 19th floor, connecticut., hartford United States Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: US$17.19 (vs US$18.02 in FY 2023) Full year 2024 results: EPS: US$17.19 (down from US$18.02 in FY 2023). Revenue: US$906.9m (up 7.3% from FY 2023). Net income: US$121.7m (down 6.8% from FY 2023). Profit margin: 13% (down from 16% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 2.0% p.a. on average during the next 3 years, while revenues in the Capital Markets industry in the US are expected to grow by 5.7%. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 02
Fourth quarter dividend of US$2.25 announced Shareholders will receive a dividend of US$2.25. Ex-date: 30th April 2025 Payment date: 14th May 2025 Dividend yield will be 4.6%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 6.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 27
Virtus Investment Partners, Inc. Declares Quarterly Cash Dividend for First Quarter 2025, Payable on May 14, 2025 Virtus Investment Partners, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $2.25 per common share for the first quarter of 2025. The dividend will be paid on May 14, 2025 to shareholders of record at the close of business on April 30, 2025. Future declarations of dividends will be subject to the approval of the Board of Directors. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: US$5.80 (vs US$4.26 in 3Q 2023) Third quarter 2024 results: EPS: US$5.80 (up from US$4.26 in 3Q 2023). Revenue: US$227.0m (up 3.5% from 3Q 2023). Net income: US$41.0m (up 33% from 3Q 2023). Profit margin: 18% (up from 14% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jan 31
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.1% to US$200. The fair value is estimated to be US$254, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.5% over the last 3 years. Earnings per share has declined by 18%. Upcoming Dividend • Jan 24
Upcoming dividend of US$2.25 per share Eligible shareholders must have bought the stock before 31 January 2025. Payment date: 12 February 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (1.8%). Price Target Changed • Jan 22
Price target decreased by 9.2% to US$223 Down from US$246, the current price target is an average from 3 analysts. New target price is 6.7% above last closing price of US$209. Stock is down 13% over the past year. The company posted earnings per share of US$18.02 last year. Announcement • Jan 17
Virtus Investment Partners, Inc. to Report Q4, 2024 Results on Jan 31, 2025 Virtus Investment Partners, Inc. announced that they will report Q4, 2024 results at 9:30 AM, US Eastern Standard Time on Jan 31, 2025 Declared Dividend • Dec 15
Third quarter dividend of US$2.25 announced Shareholders will receive a dividend of US$2.25. Ex-date: 31st January 2025 Payment date: 12th February 2025 Dividend yield will be 3.5%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (47% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 04
Virtus Investment Partners, Inc. Introduces Virtus Seix AAA Private Credit CLO ETF Virtus Investment Partners, Inc. has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus Seix AAA Private Credit CLO ETF, the second ETF managed by Seix Investment Advisors. The Virtus Seix AAA Private Credit CLO ETF, the first ETF to focus on private credit collateralized loan obligations (CLOs), primarily seeks to invest in the strongest and most undervalued AAA rated private credit CLOs and provides active management in a transparent, liquid, and cost-effective ETF. Seix has significant experience in the CLO asset class, having launched its first leveraged loan strategy under Goudelias nearly 20 years ago. Seix now manages 10 CLOs with approximately $3.4 billion in assets. Virtus ETF Solutions offers 20 actively managed and index-based ETFs and had $2.6 billion in assets under management as of September 30, 2024. It’s offerings in multiple asset classes includes Virtus Seix Senior Loan ETF (SEIX), Virtus Terranova U.S. Quality Momentum ETF (JOET) as well as ETFs managed by other Virtus affiliates, Duff & Phelps Investment Management Co., Kayne Anderson Rudnick, Newfleet Asset Management, and Stone Harbor Investment Partners. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$5.80 (vs US$4.26 in 3Q 2023) Third quarter 2024 results: EPS: US$5.80 (up from US$4.26 in 3Q 2023). Revenue: US$227.0m (up 3.5% from 3Q 2023). Net income: US$41.0m (up 33% from 3Q 2023). Profit margin: 18% (up from 14% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 13% per year. Upcoming Dividend • Oct 24
Upcoming dividend of US$2.25 per share Eligible shareholders must have bought the stock before 31 October 2024. Payment date: 13 November 2024. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of American dividend payers (4.5%). Higher than average of industry peers (2.0%). Announcement • Oct 17
Virtus Investment Partners, Inc. Introduces Virtus KAR Mid-Cap ETF Virtus Investment Partners, Inc. has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus KAR Mid-Cap ETF, (NYSE: KMID), the first ETF strategy managed by Kayne Anderson Rudnick (KAR). The Virtus KAR Mid-Cap ETFis an actively managed, concentrated portfolio consisting of 25-35 high-quality mid-cap stocks, selected using KAR’s disciplined and rigorous business-analyst approach to fundamental research, and looking to own these businesses for the long run. KMID aims to generate attractive risk-adjusted long-term returns by offering investments in businesses with sustainable competitive advantages that can maintain above-average growth and are better positioned to exceed consensus growth expectations. Virtus’ multi-manager ETF platform, Virtus ETF Solutions, now offers 19 actively managed and index-based ETFs across multiple asset classes. These include the Virtus Terranova U.S. Quality Momentum ETF (JOET) as well as ETFs managed by other Virtus affiliates, Duff & Phelps Investment Management Co., Newfleet Asset Management, Seix Investment Advisors, and Stone Harbor Investment Partners. Announcement • Oct 11
Virtus Investment Partners, Inc. to Report Q3, 2024 Results on Oct 25, 2024 Virtus Investment Partners, Inc. announced that they will report Q3, 2024 results Pre-Market on Oct 25, 2024 Declared Dividend • Aug 18
Dividend of US$2.25 announced Shareholders will receive a dividend of US$2.25. Ex-date: 31st October 2024 Payment date: 13th November 2024 Dividend yield will be 3.8%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (50% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 9.4% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 15
Virtus Investment Partners, Inc. Declares Cash Dividend for Third Quarter 2024, Payable on November 13, 2024 Virtus Investment Partners, Inc. announced that its Board of Directors has declared a quarterly common stock cash dividend of $2.25 per share for third quarter 2024, representing an 18% increase from the previous quarterly dividend of $1.90 per share, payable on November 13, 2024 to shareholders of record at the close of business on October 31, 2024. Buy Or Sell Opportunity • Jul 30
Now 21% undervalued Over the last 90 days, the stock has risen 3.2% to US$226. The fair value is estimated to be US$286, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Earnings per share has declined by 17%. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: US$2.47 (vs US$4.14 in 2Q 2023) Second quarter 2024 results: EPS: US$2.47 (down from US$4.14 in 2Q 2023). Revenue: US$224.4m (up 5.1% from 2Q 2023). Net income: US$17.6m (down 42% from 2Q 2023). Profit margin: 7.8% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Jul 24
Upcoming dividend of US$1.90 per share Eligible shareholders must have bought the stock before 31 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.2%). Announcement • Jul 13
Virtus Investment Partners, Inc. to Report Q2, 2024 Results on Jul 26, 2024 Virtus Investment Partners, Inc. announced that they will report Q2, 2024 results Pre-Market on Jul 26, 2024 Buy Or Sell Opportunity • May 28
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at US$229. The fair value is estimated to be US$290, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 11%. Recent Insider Transactions • May 23
Executive VP & Head of Distribution recently sold US$1.9m worth of stock On the 20th of May, Barry Mandinach sold around 8k shares on-market at roughly US$234 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$4.3m more than they bought in the last 12 months. Recent Insider Transactions Derivative • May 22
Executive VP & Head of Distribution notifies of intention to sell stock Barry Mandinach intends to sell 8k shares in the next 90 days after lodging an Intent To Sell Form on the 20th of May. If the sale is conducted around the recent share price of US$234, it would amount to US$1.8m. Since March 2024, Barry has owned 17.46k shares directly. Company insiders have collectively sold US$2.4m more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • May 19
Dividend of US$1.90 announced Shareholders will receive a dividend of US$1.90. Ex-date: 31st July 2024 Payment date: 15th August 2024 Dividend yield will be 3.3%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to US$231. The fair value is estimated to be US$292, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 11%. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: US$4.19 (vs US$5.33 in 1Q 2023) First quarter 2024 results: EPS: US$4.19 (down from US$5.33 in 1Q 2023). Revenue: US$222.0m (up 12% from 1Q 2023). Net income: US$29.9m (down 23% from 1Q 2023). Profit margin: 13% (down from 20% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 6% per year. Upcoming Dividend • Apr 22
Upcoming dividend of US$1.90 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (2.4%). Announcement • Apr 13
Virtus Investment Partners, Inc. to Report Q1, 2024 Results on Apr 26, 2024 Virtus Investment Partners, Inc. announced that they will report Q1, 2024 results Pre-Market on Apr 26, 2024 Buy Or Sell Opportunity • Apr 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.9% to US$228. The fair value is estimated to be US$286, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years, while earnings per share has been flat. Announcement • Apr 04
Virtus Investment Partners, Inc., Annual General Meeting, May 15, 2024 Virtus Investment Partners, Inc., Annual General Meeting, May 15, 2024, at 09:00 Eastern Daylight. Location: Company's offices, One Financial Plaza, 19th Floor Hartford, Connecticut. Connecticut United States Agenda: To elect two directors nominated by our Board of Directors and named in the Proxy Statement, each to hold office for a one-year term expiring at the 2025 annual meeting of shareholders or upon his or her successor being elected and qualified; to ratify the appointment of Deloitte & Touche LLP to serve as independent registered public accounting firm for the fiscal year ending December 31, 2024; to approve, by an advisory vote, the compensation of our named executive officers, as disclosed in this Proxy Statement; to approve an amendment to the Company's Amended and Restated Omnibus Incentive and Equity Plan to increase the number of shares of our common stock, par value $0.01 per share (the Common Stock"), available for issuance by 455,000 shares; and to consider and transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof. Recent Insider Transactions • Mar 08
Independent Non-Executive Director recently sold US$534k worth of stock On the 6th of March, Stephen Zarrilli sold around 2k shares on-market at roughly US$248 per share. This transaction amounted to 38% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$1.9m. Insiders have been net sellers, collectively disposing of US$2.4m more than they bought in the last 12 months. Buy Or Sell Opportunity • Mar 04
Now 21% undervalued Over the last 90 days, the stock has risen 12% to US$227. The fair value is estimated to be US$288, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years, while earnings per share has been flat. Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: US$18.02 (vs US$15.90 in FY 2022) Full year 2023 results: EPS: US$18.02 (up from US$15.90 in FY 2022). Revenue: US$845.3m (down 4.6% from FY 2022). Net income: US$130.6m (up 11% from FY 2022). Profit margin: 16% (up from 13% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Declared Dividend • Feb 25
Dividend of US$1.90 announced Shareholders will receive a dividend of US$1.90. Ex-date: 29th April 2024 Payment date: 15th May 2024 Dividend yield will be 3.1%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 22
Virtus Investment Partners, Inc. Declares Quarterly Cash Dividend for the First Quarter of 2024, Payable on May 15, 2024 Virtus Investment Partners, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $1.90 per common share for the first quarter of 2024. The $1.90 per share quarterly dividend is equivalent to that paid for the prior quarter and represents a 15% increase over the quarterly dividend paid for the same quarter last year. The dividend will be paid on May 15, 2024 to shareholders of record at the close of business on April 30, 2024. Buy Or Sell Opportunity • Feb 14
Now 21% undervalued Over the last 90 days, the stock has risen 15% to US$228. The fair value is estimated to be US$288, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.0% over the last 3 years, while earnings per share has been flat. Recent Insider Transactions • Feb 07
Executive VP recently sold US$1.9m worth of stock On the 5th of February, Michael Angerthal sold around 8k shares on-market at roughly US$233 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Reported Earnings • Feb 03
Full year 2023 earnings released: EPS: US$18.02 (vs US$15.90 in FY 2022) Full year 2023 results: EPS: US$18.02 (up from US$15.90 in FY 2022). Revenue: US$845.3m (down 4.6% from FY 2022). Net income: US$130.6m (up 11% from FY 2022). Profit margin: 16% (up from 13% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 7.8% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Jan 23
Upcoming dividend of US$1.90 per share at 3.1% yield Eligible shareholders must have bought the stock before 30 January 2024. Payment date: 15 February 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.6%). Higher than average of industry peers (2.5%). Announcement • Jan 19
Virtus Investment Partners, Inc. to Report Q4, 2023 Results on Feb 02, 2024 Virtus Investment Partners, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 02, 2024 
