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Virtus Investment Partners, Inc. (VRTS) stock

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NYSE: VRTS NYSE Asset Management & Custody Banks Next results ~November 9, 2026

C Fundamentals grade

Virtus Investment Partners, Inc. is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$260

Valuation models combined (5)

Base case. Range ~$200–$350. Weighted average of 5 models (forward price-to-earnings vs peers, residual income, justified price-to-book, price-to-book vs peers, dividend discount (two-stage)), the forward price-to-earnings vs peers counting double.

Price vs value

Undervalued

The price is below our entire value range; our base value is 111% above it.

Price used: $121.43, November 2, 2026

Virtus Investment Partners, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 4 selling3 purchases and 15 sales by directors and officers, last 12 monthsInsider trades
  • Funds123 adding, 89 cuttingOf 32 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Virtus Investment Partners files

Where Virtus Investment Partners stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $825m, down 7.2% on a year earlier, about the same pace as a quarter earlier. That puts it 30 of 31 for growth among the asset management & custody banks companies we cover. The diluted share count is down 3.5% on a year earlier, which lifts each remaining share. Our cash-flow model value is $277 a share, against a share price of $125.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Virtus Investment Partners, Inc.'s trailing-twelve-month revenue fell 7.2% year on year, with a free-cash-flow margin of -6.3%. Where it lags: revenue growth of -7.2% ranks 42 of 43 asset management & custody banks companies we cover.

Current signal Operating margin compressing: TTM operating margin fell to 15.7%, down 5.4pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $121.43 is 111% below our value per share of $260.
  • Shrinking share count. Diluted shares fell 3.5% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 7.2% over the last 12 months.
  • Margins narrowing. Operating margin is down 5.4 points on a year ago.
  • Burning cash. Free cash flow was -6.3% of revenue over the last 12 months.
  • Weak cash conversion. Free cash flow was -43% of net income over the last 12 months.
  • Heavily shorted. 11.3% of the shares available to trade are sold short (3.1 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$5.54 against an average estimate of $6.09: missed by 9.0%
Revenue
$201m, down 4.4% on a year earlier
Share reaction
-3.6% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Next report
November 9, 2026; average EPS estimate $5.78

Virtus Investment Partners' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.7%
  • 1 week+4.1%
  • 1 month-7.4%
  • This year-20.5%
  • 1 year-20.3%
  • 5 years-54.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$825M
Operating margin
15.7%
Net margin
14.5%
EPS (TTM, diluted)
$17.55

Growth

Revenue growth
−7.2%
Change in growth rate
+0.4 pts
Share count change
−3.5%

Earnings

Last results
July 30, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Insider trade
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Virtus Investment Partners, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$260
Price used
$119.30close November 3, 2026
Implied change
▲ +115%
Uncertainty
Medium

How we got here: the combined value of 5 valuation models built for a business like Virtus Investment Partners, Inc. (see the models table below and how they are combined) , with a 9.06% cost of equity. The models span ~$200–~$350; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Virtus Investment Partners, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.91 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$200 ~$170–$260 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$270 ~$200–$380 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$300 ~$260–$360 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$220 ~$230–$610 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$350 ~$290–$420 Included
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$260 ~$200–$350 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Virtus Investment Partners, Inc. with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

84 /100

Strong moat

How hard Virtus Investment Partners's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 2.8% of total assets over 10 years.

  • Durability 15 / 20

    Operating margin has been a median 19.4%; its worst year was 12.7%.

  • Discipline 18 / 20

    The diluted share count fell 16.4% over five years; stock-based pay has been a median 3.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (89 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, before the open. Analysts expect revenue of $181m and EPS of $5.78 (range $5.74 to $5.84) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $22.36 −11% $719m −7%
Next $21.65 −3% $678m −6%

Next year's EPS estimate has moved −14.6% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −9.1% on 90 days ago. In the last 30 days, 0 analysts raised Virtus Investment Partners, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Virtus Investment Partners, Inc., last 90 days
$21.00 $22.00 $23.00 $24.00 $25.00 $26.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $24.59 Current fiscal year, 60 days ago: $23.31 Current fiscal year, 30 days ago: $23.08 Current fiscal year, 7 days ago: $22.33 Current fiscal year, Now: $22.36 $22.36 Next fiscal year, 90 days ago: $25.34 Next fiscal year, 60 days ago: $24.56 Next fiscal year, 30 days ago: $24.12 Next fiscal year, 7 days ago: $22.12 Next fiscal year, Now: $21.65 $21.65

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $24.59$25.34
60 days ago $23.31$24.56
30 days ago $23.08$24.12
7 days ago $22.33$22.12
Now $22.36$21.65

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $6.09 $5.54 −9.0%
Mar 2026 $5.67 $5.38 −5.1%
Dec 2025 $6.50 $6.50 0.0%
Sept 2025 $6.77 $6.69 −1.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Oct 2026
Buy125%
Hold125%
Sell250%

Monthly trend

  1. Oct 202611114
  2. Sep 202611114
  3. Aug 202611114
  4. Jul 202611114

Counts of recommendations published by analysts covering Virtus Investment Partners, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.3%
of tradable shares
Days to cover
3.08
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
96%
of shares
Held by insiders
6.4%
of shares
Employees
801
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −20.3%

$152.42 on October 31, 2025 to $121.43

ThenNowEffect
Revenue (last 12 months) $889m $825m −7.2%
Net margin 16.3% 14.5% −11.2%
P/E multiple 7.4x 6.9x −6.8%
Share count 7m 7m +3.7%

Biggest factor: net margin.

Last 3 years −29.7%

$172.68 on November 3, 2023 to $121.43

ThenNowEffect
Revenue (last 12 months) $820m $825m +0.6%
Net margin 16.6% 14.5% −12.4%
P/E multiple 9.4x 6.9x −26.6%
Share count 7m 7m +8.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VRTS+39%−34%+31%−6%−22%−21%
Industry peers (median)+33%−17%+19%+15%−4%−6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VRTS42%33%58%42%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VRTS−16%−49%−31%−22%−34%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from February 11, 2020 to March 23, 2020. Getting back needed a 142% gain, reached on July 27, 2020, 126 days after the low.

Price behaviour

52-week range
$115.43 – $166.86
From 52-week high
−27.2%
vs 50-day average
−9.5%
vs 200-day average
−13.0%
Volatility (1 year)
35%
Beta vs S&P 500
0.85

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±5.2%
After a week
3 up, 9 down
typical move ±6.5%
After a month
5 up, 7 down
typical move ±8.7%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −3.6% +2.4% −1.1% +1.9%
May 1, 2026 −4.2% −0.1% −1.1% +1.2%
February 6, 2026 −10.1% +2.4% −8.5% −12.8%
October 24, 2025 −3.5% +2.0% −6.9% −11.1%
July 25, 2025 −9.2% +0.4% −10.2% −6.1%
April 25, 2025 −1.7% +0.8% +3.0% +11.6%
January 31, 2025 −6.0% −1.2% −9.5% −15.3%
October 25, 2024 +5.9% +0.3% +3.0% +15.7%
July 26, 2024 −7.9% +1.2% −15.0% −12.0%
April 26, 2024 −2.9% +1.3% −1.0% −0.1%
February 2, 2024 −2.8% +0.7% −2.1% −5.0%
October 27, 2023 +4.7% +0.7% +17.1% +11.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Virtus Investment Partners, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Virtus Investment Partners, Inc.
$800M $850M $900M $950M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $829.1M Revenue (TTM), FY23 Q4: $845.3M Revenue (TTM), FY24 Q1: $869.4M Revenue (TTM), FY24 Q2: $880.3M Revenue (TTM), FY24 Q3: $888M Revenue (TTM), FY24 Q4: $906.9M Revenue (TTM), FY25 Q1: $902.8M Revenue (TTM), FY25 Q2: $889M Revenue (TTM), FY25 Q3: $878.3M Revenue (TTM), FY25 Q4: $852.9M Revenue (TTM), FY26 Q1: $834.5M Revenue (TTM), FY26 Q2: $825.3M $825.3M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $829.1M
FY23 Q4 $845.3M
FY24 Q1 $869.4M
FY24 Q2 $880.3M
FY24 Q3 $888M
FY24 Q4 $906.9M
FY25 Q1 $902.8M
FY25 Q2 $889M
FY25 Q3 $878.3M
FY25 Q4 $852.9M
FY26 Q1 $834.5M
FY26 Q2 $825.3M
Revenue growth, TTM YoY Virtus Investment Partners, Inc.
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -13.1% Revenue growth, TTM YoY, FY23 Q4: -4.6% Revenue growth, TTM YoY, FY24 Q1: 4.5% Revenue growth, TTM YoY, FY24 Q2: 7.3% Revenue growth, TTM YoY, FY24 Q3: 7.1% Revenue growth, TTM YoY, FY24 Q4: 7.3% Revenue growth, TTM YoY, FY25 Q1: 3.8% Revenue growth, TTM YoY, FY25 Q2: 1.0% Revenue growth, TTM YoY, FY25 Q3: -1.1% Revenue growth, TTM YoY, FY25 Q4: -6.0% Revenue growth, TTM YoY, FY26 Q1: -7.6% Revenue growth, TTM YoY, FY26 Q2: -7.2% -7.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -13.1%
FY23 Q4 -4.6%
FY24 Q1 4.5%
FY24 Q2 7.3%
FY24 Q3 7.1%
FY24 Q4 7.3%
FY25 Q1 3.8%
FY25 Q2 1.0%
FY25 Q3 -1.1%
FY25 Q4 -6.0%
FY26 Q1 -7.6%
FY26 Q2 -7.2%
Operating margin (TTM) Virtus Investment Partners, Inc.
14% 16% 18% 20% 22% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 17.3% Operating margin (TTM), FY23 Q4: 17.9% Operating margin (TTM), FY24 Q1: 17.9% Operating margin (TTM), FY24 Q2: 18.2% Operating margin (TTM), FY24 Q3: 19.2% Operating margin (TTM), FY24 Q4: 20.1% Operating margin (TTM), FY25 Q1: 20.7% Operating margin (TTM), FY25 Q2: 21.1% Operating margin (TTM), FY25 Q3: 20.4% Operating margin (TTM), FY25 Q4: 19.8% Operating margin (TTM), FY26 Q1: 17.7% Operating margin (TTM), FY26 Q2: 15.7% 15.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 17.3%
FY23 Q4 17.9%
FY24 Q1 17.9%
FY24 Q2 18.2%
FY24 Q3 19.2%
FY24 Q4 20.1%
FY25 Q1 20.7%
FY25 Q2 21.1%
FY25 Q3 20.4%
FY25 Q4 19.8%
FY26 Q1 17.7%
FY26 Q2 15.7%
FCF margin (TTM) Virtus Investment Partners, Inc.
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 24.1% FCF margin (TTM), FY23 Q4: 27.0% FCF margin (TTM), FY24 Q1: 27.2% FCF margin (TTM), FY24 Q2: 18.3% FCF margin (TTM), FY24 Q3: 11.9% FCF margin (TTM), FY24 Q4: -0.4% FCF margin (TTM), FY25 Q1: 2.9% FCF margin (TTM), FY25 Q2: 3.5% FCF margin (TTM), FY25 Q3: 7.9% FCF margin (TTM), FY25 Q4: -8.7% FCF margin (TTM), FY26 Q1: -4.0% FCF margin (TTM), FY26 Q2: -6.3% -6.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 24.1%
FY23 Q4 27.0%
FY24 Q1 27.2%
FY24 Q2 18.3%
FY24 Q3 11.9%
FY24 Q4 -0.4%
FY25 Q1 2.9%
FY25 Q2 3.5%
FY25 Q3 7.9%
FY25 Q4 -8.7%
FY26 Q1 -4.0%
FY26 Q2 -6.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 117 145 205 280 389 451 382 323 426 552 563 604 979 886 845 907 853 825
EBITDA −5 11 20 67 121 137 87 57 76 147 164 182 376 266 222 251 232 166
Operating income −7 9 14 60 114 131 80 51 58 113 125 143 325 197 151 182 169 130
Net income −6 10 145 38 77 97 35 49 37 76 96 80 208 118 131 122 138 120
Diluted EPS −$1.76 $0.81 $16.34 $4.66 $8.92 $10.51 $3.92 $6.20 $3.96 $8.86 $11.74 $10.02 $26.01 $15.50 $17.71 $16.89 $19.97 $17.55
Growth (year on year)
Revenue — +23.4% +41.6% +36.9% +39.0% +15.8% −15.2% −15.6% +31.9% +29.8% +2.0% +7.2% +62.2% −9.5% −4.6% +7.3% −6.0% −7.2%
EBITDA — — +75.3% +237.1% +80.9% +14.0% −36.5% −35.2% +34.9% +91.9% +12.2% +10.7% +106.7% −29.3% −16.7% +13.5% −7.6% −25.8%
Operating income — — +50.0% +334.8% +87.8% +15.2% −38.5% −36.8% +14.2% +94.9% +10.3% +14.8% +127.4% −39.3% −23.3% +20.5% −7.6% −31.0%
Net income — — +>999% −74.0% +104.2% +25.7% −63.8% +38.2% −23.7% +104.1% +26.6% −16.4% +160.3% −43.5% +11.1% −6.8% +13.7% −17.5%
Diluted EPS — — +>999% −71.5% +91.4% +17.8% −62.7% +58.2% −36.1% +123.7% +32.5% −14.7% +159.6% −40.4% +14.3% −4.6% +18.2% −14.5%
Margins
EBITDA margin −4.0% 7.8% 9.7% 23.8% 31.0% 30.5% 22.9% 17.6% 17.9% 26.5% 29.2% 30.1% 38.4% 30.0% 26.2% 27.7% 27.2% 20.2%
Operating margin −5.7% 6.4% 6.8% 21.6% 29.2% 29.0% 21.0% 15.8% 13.6% 20.5% 22.1% 23.7% 33.2% 22.3% 17.9% 20.1% 19.8% 15.7%
Net margin −5.5% 6.7% 71.1% 13.5% 19.8% 21.5% 9.2% 15.0% 8.7% 13.7% 17.0% 13.2% 21.3% 13.3% 15.5% 13.4% 16.2% 14.5%
Free-cash-flow margin −10.6% 15.1% 11.2% 12.9% 6.9% −13.6% −56.1% 5.9% −43.3% −13.4% −7.9% −37.6% 67.4% 14.2% 27.0% −0.4% −8.7% −6.3%
Cash flow
Cash from operations −12 22 24 40 29 −59 −209 21 −183 −63 −37 −226 666 133 237 2 −67 −46
Capital spending 1 0 1 4 2 2 5 2 2 12 8 1 6 7 9 6 7 6
Free cash flow −12 22 23 36 27 −61 −214 19 −184 −74 −44 −227 660 126 228 −4 −74 −52
Stock-based pay 4 4 6 7 8 10 12 12 20 23 22 21 26 24 27 33 24 27
Free cash flow after stock pay −16 18 17 29 19 −71 −226 7 −205 −97 −67 −249 634 102 202 −37 −98 −78
Balance sheet
Cash 29 44 45 63 272 203 97 84 132 202 222 340 586 589 341 400 478 287
Total debt 0 15 15 15 0 0 0 30 248 329 278 201 274 262 259 236 399 419
Net debt (negative = net cash) −29 −29 −30 −48 −272 −203 −97 −54 116 127 56 −139 −312 −328 −82 −164 −79 132
Diluted shares 6m 6m 7m 8m 8m 9m 9m 8m 7m 9m 8m 8m 8m 8m 7m 7m 7m 7m
Returned to shareholders
Dividends — — — — 0 8 16 14 13 14 17 23 31 47 52 58 65 66
Buybacks — 1 8 9 20 40 80 234 8 28 40 33 57 90 45 45 60 30
Total returned — 1 8 9 20 48 96 248 20 42 57 55 89 137 97 103 125 96

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$30.5M
Dividends (TTM)
$65.8M
Returned to shareholders
-185%
of free cash flow
Buybacks, last 3 fiscal years
$150M
Diluted share count
−3.5%
year over year
Total shareholder yield
12.0%
dividends 8.2% + buybacks 3.8% of market value
Dividend payout ratio
55%
of net income paid out

Competitors: side by side with peers

Closest by revenue in asset management & custody banks
Last 12 months unless stated VRTS HLNE AAMI WT CNS GCMG Median
Revenue, last 12 months $825m $858m $669m $610m $600m $571m $858m
Revenue growth, last 12 months −7.2% 24.0% 24.2% 37.1% 8.6% 7.0% 17.2%
Revenue growth, 3-year average 0.2% 18.3% 18.9% 24.8% 6.5% 8.8% 10.2%
Revenue growth, latest quarter −4.4% 56.5% 45.3% 57.3% 11.1% 12.3% 14.4%
Operating margin 15.7% — 23.7% 38.8% 32.4% 27.1% 25.8%
Operating margin, 3-year average 18.4% — 24.6% 33.7% 32.9% 18.5% 18.8%
Net margin 14.5% 32.1% 15.2% 13.3% 28.2% 7.8% 15.2%
Cash from operations / revenue −5.6% 43.5% −5.1% 32.2% 6.3% 34.7% 26.4%
Free-cash-flow margin −6.3% 42.7% 3.6% 32.1% 4.6% 32.6% 21.9%
Free-cash-flow margin, 3-year average 5.2% 37.6% — 28.6% 2.5% 28.8% 17.6%
Stock pay / revenue 3.2% 5.9% −11.6% 4.3% 7.2% 9.1% 3.7%
Change in share count −3.5% — −3.8% −2.7% 0.5% 5.3% −0.2%

Median of all 43 companies we cover in asset management & custody banks. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 asset management & custody banks companies
Measure Company Peer median Rank
Revenue growth Growth -7.2% 17.2% 42 of 43
Change in growth rate Growth +0.4pp +1.0pp 27 of 43
Operating margin Profitability 15.7% 23.7% 16 of 27
Net margin Profitability 14.5% 15.2% 24 of 43
Stock pay as % of revenue Cash generation 3.2% 4.3% 18 of 40
Change in share count Balance sheet -3.5% -0.3% 9 of 33

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Investment Management Fees $725M 85.0% ▼ 6.3%
Open End Funds $287M 39.5% ▼ 9.9%
Retail Separate Accounts $210M 28.9% 0.0%
Institutional Accounts $168M 23.1% ▼ 10.5%
Closed End Funds $61.3M 8.5% ▲ 3.6%
Administration and Shareholder Service Fees $73.3M 8.6% ▼ 1.4%
Distribution and Service Fees $49.6M 5.8% ▼ 9.3%
Other Income and Fees $5M 0.6% ▲ 20.3%

From Virtus Investment Partners, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$862M
Institutions reporting
232
Shares held vs prior quarter
▲ 5.4%
Positions opened / closed
30 / 31

Top buyers and sellers, Q2 2026: 123 institutions bought and 89 sold ; the biggest buyer was AQR Capital Management LLC (+154K shares) and the biggest seller Gator Capital Management, LLC (−59K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $152M 1.1M 17.6% ▲ 5.7%
Vanguard Portfolio Management LLC $64.6M 450K 7.5% ▼ 7.2%
State Street Corp $64.3M 448K 7.5% ▲ 2.2%
Victory Capital Management Inc $50.6M 353K 5.9% ▲ 11.0%
Dimensional Fund Advisors LP $45.3M 316K 5.3% ▲ 3.5%
AQR Capital Management LLC $41.1M 287K 4.8% ▲ 116.7%
Vanguard Capital Management LLC $40.2M 280K 4.7% ▼ 2.0%
Charles Schwab Investment Management Inc $40.1M 279K 4.7% ▲ 7.9%
American Century Companies Inc $28M 195K 3.3% ▲ 3.5%
Geode Capital Management, LLC $23.7M 165K 2.8% ▲ 3.9%
Jpmorgan Chase & Co $20.6M 143K 2.4% ▲ 54.5%
Brown Advisory Inc $15.7M 109K 1.8% ▲ 5.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Virtus Investment Partners, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $524,362 3 trades by 1 insider, last 12 months Insider sales History → $4.3M 15 trades by 4 insiders · 0% under pre-set plans
Net ▼ $3.7M net selling
Insider Date Trade Shares Price Value
Morris W Howard Director September 15, 2026 Sell 435 $138.59 $60,287
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 1,722 $164.47 $283,217
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 120 $170.29 $20,435
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 2,758 $166.53 $459,290
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 2,643 $168.41 $445,108
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 4,568 $167.44 $764,866
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 879 $165.21 $145,220
Angerthal Michael A EVP, CFO & Treasurer August 3, 2026 Sell 2,285 $169.72 $387,810
Mandinach Barry M. EVP, Head of Distribution June 16, 2026 Sell 500 $145.25 $72,625
Mandinach Barry M. EVP, Head of Distribution June 16, 2026 Sell 4,500 $144.71 $651,195
Morris W Howard Director March 12, 2026 Buy 150 $129.23 $19,384
Morris W Howard Director March 12, 2026 Buy 1,900 $129.62 $246,278

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 23, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • May 1, 2026
  • February 6, 2026
  • October 24, 2025
  • July 25, 2025
  • April 25, 2025

Recent SEC filings

Data status

When each part of this page on Virtus Investment Partners, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Virtus Investment Partners, Inc. in brief

What does Virtus Investment Partners, Inc. do?
Virtus Investment Partners, Inc. is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
What is Virtus Investment Partners, Inc.'s stock ticker?
Virtus Investment Partners, Inc. trades under the ticker VRTS on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Virtus Investment Partners, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Virtus Investment Partners, Inc. reported revenue of $825M, 7.2% lower than a year earlier, according to its SEC filings.
What is Virtus Investment Partners, Inc.'s free cash flow?
Virtus Investment Partners, Inc.'s free-cash-flow margin is -6.3% of revenue over the trailing twelve months.
Who are Virtus Investment Partners, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Virtus Investment Partners, Inc. buying back stock, and does it pay a dividend?
Virtus Investment Partners, Inc. spent $30.5M on share repurchases over the trailing twelve months, and its diluted share count fell 3.5% over the year.
What is Virtus Investment Partners, Inc.'s market cap?
On November 2, 2026, Virtus Investment Partners, Inc.'s market capitalisation was about $829M, with a price-to-earnings ratio of 6.9 and net debt of $132M. Market figures come from third-party market data and may be delayed.
Does Virtus Investment Partners, Inc. pay a dividend?
Yes: Virtus Investment Partners, Inc. paid $65.8M in dividends over the trailing twelve months, a dividend yield of 8.18% and a payout ratio of 54.9%.
Who are Virtus Investment Partners, Inc.'s competitors?
In our Asset Management & Custody Banks peer group, the companies closest to Virtus Investment Partners, Inc. are Hamilton Lane Inc, Acadian Asset Management Inc., Wisdomtree, Inc., Cohen & Steers, Inc. and GCM Grosvenor Inc. The side-by-side comparison below sets their revenue, margins and growth against Virtus Investment Partners, Inc.'s.
Are insiders buying or selling Virtus Investment Partners, Inc. stock?
Over the last 12 months, Virtus Investment Partners, Inc.'s directors and officers reported 3 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is Virtus Investment Partners, Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Virtus Investment Partners, Inc. announces its own schedule.