Virtus Investment Partners (VRTS)
Market Price (10/7/2026): $130.86 | Market Cap: $872.8 MilSector: Financials | Industry: Asset Management & Custody Banks
Virtus Investment Partners (VRTS)
Market Price (10/7/2026): $130.86Market Cap: $872.8 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 21%, Dividend Yield is 7.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 17% Low stock price volatilityVol 12M is 36% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Digital & Alternative Assets, and Sustainable Finance. Themes include Wealth Management Technology, Show more. | Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -107% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 288% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.4%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3%, Rev Chg QQuarterly Revenue Change % is -4.6% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.3% Key risksVRTS key risks include [1] high financial vulnerability to market fluctuations, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 21%, Dividend Yield is 7.5%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 17% |
| Low stock price volatilityVol 12M is 36% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Digital & Alternative Assets, and Sustainable Finance. Themes include Wealth Management Technology, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -107% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 288% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.4%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.3%, Rev Chg QQuarterly Revenue Change % is -4.6% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.6%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.3% |
| Key risksVRTS key risks include [1] high financial vulnerability to market fluctuations, Show more. |
Qualitative Assessment
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Virtus Investment Partners (VRTS) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Continued decline in Assets Under Management (AUM) due to net outflows. Virtus Investment Partners experienced a decrease in its preliminary Assets Under Management (AUM) during fiscal Q3 2026, falling from $152.2 billion at the end of fiscal Q2 2026 (June 30, 2026) to $147.5 billion by August 31, 2026. This $4.7 billion decline was primarily driven by net outflows in institutional accounts, retail separate accounts, U.S. retail funds, and global funds throughout July and August 2026, despite some positive net flows in exchange-traded funds and tender offer funds, and partial offsets from market performance.
2. Persistent style headwinds from quality-oriented equity strategies driving net outflows. During the fiscal Q2 2026 earnings call on July 30, 2026, management highlighted that total net outflows, which improved to $5.6 billion from $8.4 billion in the prior quarter, continued to reflect "style headwind from quality-oriented strategies". These quality-oriented equity strategies have consistently faced significant redemptions, indicating an ongoing challenge for a substantial portion of the firm's managed assets and directly contributing to the overall AUM decline.
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Virtus Investment Partners (VRTS) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Continued decline in Assets Under Management (AUM) due to net outflows. Virtus Investment Partners experienced a decrease in its preliminary Assets Under Management (AUM) during fiscal Q3 2026, falling from $152.2 billion at the end of fiscal Q2 2026 (June 30, 2026) to $147.5 billion by August 31, 2026. This $4.7 billion decline was primarily driven by net outflows in institutional accounts, retail separate accounts, U.S. retail funds, and global funds throughout July and August 2026, despite some positive net flows in exchange-traded funds and tender offer funds, and partial offsets from market performance.
2. Persistent style headwinds from quality-oriented equity strategies driving net outflows. During the fiscal Q2 2026 earnings call on July 30, 2026, management highlighted that total net outflows, which improved to $5.6 billion from $8.4 billion in the prior quarter, continued to reflect "style headwind from quality-oriented strategies". These quality-oriented equity strategies have consistently faced significant redemptions, indicating an ongoing challenge for a substantial portion of the firm's managed assets and directly contributing to the overall AUM decline.
3. Cautious analyst sentiment and reduced earnings projections. As of September 2026, analyst consensus ratings for Virtus Investment Partners generally remained cautious, with some sources indicating a "Hold" or even "Reduce" consensus. Furthermore, analysts had reportedly reduced earnings projections for fiscal years 2025 and 2026 by approximately 2%. The median 12-month price target by analysts was $145 as of September 25, 2026, which, while suggesting some potential upside from the stock's closing price of $129.55 on September 28, 2026, reflects a tempered outlook on future performance.
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Stock Movement Drivers
Fundamental Drivers
The -6.6% change in VRTS stock from 6/30/2026 to 10/6/2026 was primarily driven by a -9.2% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 141.39 | 132.02 | -6.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 829 | 820 | -1.2% |
| Net Income Margin (%) | 14.1% | 14.6% | 3.7% |
| P/E Multiple | 8.1 | 7.3 | -9.2% |
| Shares Outstanding (Mil) | 7 | 7 | 0.3% |
| Cumulative Contribution | -6.6% |
Market Drivers
6/30/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VRTS | -6.6% | |
| Market (SPY) | 4.3% | 33.4% |
| Sector (XLF) | 0.7% | 40.0% |
Fundamental Drivers
The 1.4% change in VRTS stock from 3/31/2026 to 10/6/2026 was primarily driven by a 15.7% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 130.17 | 132.02 | 1.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 848 | 820 | -3.3% |
| Net Income Margin (%) | 16.3% | 14.6% | -10.4% |
| P/E Multiple | 6.4 | 7.3 | 15.7% |
| Shares Outstanding (Mil) | 7 | 7 | 1.3% |
| Cumulative Contribution | 1.4% |
Market Drivers
3/31/2026 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VRTS | 1.4% | |
| Market (SPY) | 20.1% | 30.3% |
| Sector (XLF) | 9.8% | 44.5% |
Fundamental Drivers
The -26.2% change in VRTS stock from 9/30/2025 to 10/6/2026 was primarily driven by a -12.9% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 178.78 | 132.02 | -26.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 885 | 820 | -7.4% |
| Net Income Margin (%) | 16.4% | 14.6% | -11.0% |
| P/E Multiple | 8.4 | 7.3 | -12.9% |
| Shares Outstanding (Mil) | 7 | 7 | 2.8% |
| Cumulative Contribution | -26.2% |
Market Drivers
9/30/2025 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VRTS | -26.2% | |
| Market (SPY) | 17.9% | 32.6% |
| Sector (XLF) | 1.5% | 48.8% |
Fundamental Drivers
The -24.6% change in VRTS stock from 9/30/2023 to 10/6/2026 was primarily driven by a -21.9% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10062026 | Change |
|---|---|---|---|
| Stock Price ($) | 175.04 | 132.02 | -24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 816 | 820 | 0.5% |
| Net Income Margin (%) | 16.7% | 14.6% | -12.3% |
| P/E Multiple | 9.4 | 7.3 | -21.9% |
| Shares Outstanding (Mil) | 7 | 7 | 9.6% |
| Cumulative Contribution | -24.6% |
Market Drivers
9/30/2023 to 10/6/2026| Return | Correlation | |
|---|---|---|
| VRTS | -24.6% | |
| Market (SPY) | 88.5% | 49.8% |
| Sector (XLF) | 70.0% | 58.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VRTS Return | 39% | -33% | 31% | -6% | -22% | -14% | -23% |
| Peers Return | 41% | -16% | 3% | 7% | 33% | 22% | 112% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 107% |
Monthly Win Rates [3] | |||||||
| VRTS Win Rate | 42% | 33% | 58% | 42% | 42% | 60% | |
| Peers Win Rate | 68% | 43% | 48% | 58% | 60% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| VRTS Max Drawdown | -16% | -49% | -31% | -22% | -34% | -28% | |
| Peers Max Drawdown | -19% | -38% | -32% | -19% | -26% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMG, BEN, TROW, IVZ, FHI. See VRTS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/6/2026 (YTD)
How Low Can It Go
| Event | VRTS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.9% | -18.8% |
| % Gain to Breakeven | 29.7% | 23.1% |
| Time to Breakeven | 66 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.6% | -7.8% |
| % Gain to Breakeven | 17.1% | 8.5% |
| Time to Breakeven | 82 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.6% | -9.5% |
| % Gain to Breakeven | 25.9% | 10.5% |
| Time to Breakeven | 54 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.1% | -6.7% |
| % Gain to Breakeven | 28.4% | 7.1% |
| Time to Breakeven | 81 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.2% | -33.7% |
| % Gain to Breakeven | 139.4% | 50.9% |
| Time to Breakeven | 126 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.7% | -19.2% |
| % Gain to Breakeven | 63.0% | 23.8% |
| Time to Breakeven | 108 days | 105 days |
In The Past
Virtus Investment Partners's stock fell -22.9% during the 2025 US Tariff Shock. Such a loss loss requires a 29.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | VRTS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.9% | -18.8% |
| % Gain to Breakeven | 29.7% | 23.1% |
| Time to Breakeven | 66 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -20.6% | -9.5% |
| % Gain to Breakeven | 25.9% | 10.5% |
| Time to Breakeven | 54 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -22.1% | -6.7% |
| % Gain to Breakeven | 28.4% | 7.1% |
| Time to Breakeven | 81 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -58.2% | -33.7% |
| % Gain to Breakeven | 139.4% | 50.9% |
| Time to Breakeven | 126 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -38.7% | -19.2% |
| % Gain to Breakeven | 63.0% | 23.8% |
| Time to Breakeven | 108 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -38.0% | -12.2% |
| % Gain to Breakeven | 61.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -60.8% | -6.8% |
| % Gain to Breakeven | 155.4% | 7.3% |
| Time to Breakeven | 1763 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -35.3% | -17.9% |
| % Gain to Breakeven | 54.6% | 21.8% |
| Time to Breakeven | 96 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -23.7% | -15.4% |
| % Gain to Breakeven | 31.1% | 18.2% |
| Time to Breakeven | 17 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -61.5% | -53.4% |
| % Gain to Breakeven | 159.9% | 114.4% |
| Time to Breakeven | 57 days | 1085 days |
In The Past
Virtus Investment Partners's stock fell -22.9% during the 2025 US Tariff Shock. Such a loss loss requires a 29.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Virtus Investment Partners (VRTS)
Virtus Investment Partners, Inc. (VRTS) is a publicly owned investment management firm that provides services primarily to individual and institutional clients. Based in Hartford, Connecticut, the company distinguishes itself through a multi-manager approach, employing quantitative analysis and in-house research to manage its various investment products and strategies.
The firm offers a range of investment solutions, including the launch of separate client-focused portfolios for both equity and fixed income, as well as equity, fixed income, and balanced mutual funds. Virtus invests client capital across public equity, fixed income, and real estate markets, and also utilizes exchange-traded funds (ETFs), benchmarking the performance of its portfolios against indices like the S&P 500.
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Imagine Franklin Templeton, known for bringing many specialized investment managers and their unique strategies together under one corporate umbrella.
They're an investment manager, similar to T. Rowe Price or Fidelity, but their key strategy involves curating and operating a diverse collection of specialized investment teams.
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- Separate Account Management: The firm creates and manages customized equity and fixed income portfolios tailored to individual and institutional clients' specific needs and objectives.
- Mutual Funds: Virtus offers a range of pooled investment vehicles, including equity, fixed income, and balanced funds, for clients seeking diversified investment options.
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Virtus Investment Partners (VRTS) primarily provides its services to a diverse client base that includes both individuals and institutions. For an investment manager of its type, major customers are best described by categories rather than specific named entities due to the nature of their business and client confidentiality. Based on the company's description and typical practices for investment managers, its major customer categories are:
- Individual Investors: This category includes both retail investors who purchase Virtus's mutual funds and exchange-traded funds, as well as high-net-worth individuals who may engage the firm for separate client-focused equity and fixed income portfolios.
- Institutional Investors: This segment comprises various organizations such as pension funds, endowments, foundations, and corporate clients that seek Virtus's expertise in managing their investment assets across public equity, fixed income, and real estate markets.
- Financial Intermediaries: Virtus also serves other financial firms, including wealth management platforms, broker-dealers, and insurance companies, which may utilize Virtus's investment products and strategies as part of their own offerings to their respective client bases.
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George R. Aylward, President and Chief Executive Officer
George Aylward has over 25 years of experience in the asset management industry. He started his career in the financial services group of PriceWaterhouse LLP before joining Virtus' predecessor in 1996. He served as chief of staff to the CEO of Virtus' former parent from 2002 to 2004 and as chief operating officer of Virtus from 2004 to 2006. Named president in November 2006, Mr. Aylward successfully directed the spin-off of Virtus from its former parent, Phoenix Life Insurance Company, in 2008, overseeing its transition to a public company. He holds a Bachelor of Science degree in accounting from the University of Connecticut and a Master of Business Administration from the University of Massachusetts.
Michael A. Angerthal, Executive Vice President and Chief Financial Officer
Michael Angerthal joined Virtus in 2008 as the company prepared to become an independent, publicly traded entity following its spin-off. Prior to Virtus, he served as the chief financial officer of CBRE Realty Finance. He also spent nine years with several units of GE Corporation.
Richard W. Smirl, Executive Vice President and Chief Operating Officer
Rick Smirl is responsible for leading product management, oversight and development activities, as well as investment operations and information technology. He also collaborates closely with the company's affiliated managers and unaffiliated subadvisers to support business growth.
Andra Purkalitis, Executive Vice President, Chief Legal Officer, General Counsel, and Corporate Secretary
Andra Purkalitis joined Virtus in 2023. She previously served as global chief compliance officer and regulatory counsel at Affinius Capital (formerly USAA Real Estate), a private equity real estate management company. Her prior experience includes roles as global chief compliance officer and regulatory counsel at Russell Investments, regional chief executive officer and chief legal officer at Aviva Investors Americas, and chief administrative officer and general counsel at Old Mutual Capital.
Barry M. Mandinach, Executive Vice President and Head of Distribution
Barry Mandinach leads the distribution, positioning, messaging, and marketing of Virtus investment products across all distribution platforms and manages relationships with the firm's distribution partners. Prior to joining Virtus in 2014, he was at UBS Global Asset Management (U.S.) as head of wholesale distribution and chief marketing officer. From 1999 to 2001, he was chief sales and marketing officer at Phoenix Investment Partners (PXP), Virtus' predecessor. Mr. Mandinach was also a partner and co-founder of the Zweig Mutual Funds, which were acquired by PXP in 1999.
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1. Dependence on Assets Under Management (AUM) and Market Conditions: Virtus's revenues are primarily derived from asset-based fees, meaning its financial performance is highly susceptible to fluctuations in its Assets Under Management (AUM) and broader market conditions. Negative market performance, inflation, and interest rate environments can lead to reduced AUM, directly impacting the firm's revenues and profitability. The company has experienced declining revenue growth, negative multiyear returns, and AUM outflows, signaling challenges related to market sentiment and investor confidence.
2. Investment Performance and Competition: The firm's ability to retain and attract clients is heavily dependent on the competitive investment performance of its products, which include a multi-manager approach utilizing unaffiliated subadvisers. Underperformance of investment strategies can lead to client withdrawals and the inability to attract new investments. Furthermore, Virtus operates in a highly competitive landscape increasingly challenged by the rise of passive investing, fee compression, and new fintech models that can lead to a concentration of assets among fewer, larger firms.
3. Reputational and Regulatory Risks: As an investment manager handling client assets, Virtus is exposed to significant reputational and regulatory risks. Damage to the company's reputation due to poor performance, litigation, operational failures, or ethical breaches could lead to substantial reductions in AUM. Additionally, reliance on complex technology systems exposes the firm to cybersecurity threats and system failures, which could disrupt operations and harm profitability. The evolving landscape of regulations, including those related to ESG (Environmental, Social, and Governance) and anti-money laundering (AML), also presents compliance burdens and potential litigation risks.
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The clear emerging threats for Virtus Investment Partners are:
- The ongoing industry-wide shift of investor capital from higher-fee, actively managed investment products to lower-cost, passively managed index funds and exchange-traded funds (ETFs). This trend directly threatens the revenue and asset under management (AUM) of traditional active fund managers.
- The increasing prevalence and sophistication of automated investment platforms, commonly known as robo-advisors, which offer low-cost, algorithm-driven portfolio management services, attracting individual and even institutional clients who might otherwise use traditional investment managers.
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Virtus Investment Partners (VRTS) is strategically positioning itself for future revenue growth over the next 2-3 years through several key initiatives:
- Expansion of Exchange-Traded Fund (ETF) Offerings: Virtus is significantly growing its ETF segment, which has shown substantial organic growth and is a focus for new product launches. The company reported that its ETF assets doubled to $3.1 billion by Q2 2025 from early 2025, achieving an organic growth rate of 74% over the trailing 12 months. More actively managed ETFs are planned for launch in upcoming quarters.
- Launch of New ESG-Compliant Products: The firm is broadening its product pipeline with new ESG-compliant products to capture the growing demand for sustainable investments. Virtus aims for a potential 20% revenue increase from these sustainable investment solutions by 2025.
- Targeted International Expansion: Virtus Investment Partners is pursuing targeted international expansion, particularly in Asia and Europe, with the goal of achieving a 20% revenue increase from these new markets by 2025.
- Strategic Acquisitions and Expansion into Private Markets: The company is actively evaluating merger and acquisition opportunities to broaden its capabilities and market reach. Recent strategic moves include a minority investment in Crescent Cove, a private capital solutions firm focused on lending to high-growth technology companies, and the pending acquisition of a majority interest in Keystone National Group, a private credit manager. This demonstrates a focus on expanding into alternative and private market investment capabilities.
- Growth of Global Funds: Virtus is working to grow its global funds, which have recorded positive net flows and increased sales, driven by new product launches and increased distribution through intermediaries. This expansion contributes to diversifying the company's revenue streams.
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Share Repurchases
- In 2025, Virtus Investment Partners repurchased 347,364 shares of its common stock for $60 million.
- As of December 31, 2025, the company had 805,948 shares remaining for repurchase under its share repurchase program.
- In May 2022, the board of directors approved an additional repurchase of 750,000 shares of outstanding common stock.
Share Issuance
- The number of outstanding shares decreased from 7.62 million in 2021 to 6.75 million in 2025, indicating a net reduction in shares primarily due to repurchases.
Outbound Investments
- The company plans to continue its focus on strategic acquisitions to drive growth and enhance its investment management capabilities.
Capital Expenditures
- Capital expenditures were $8.82 million in 2023, $6.58 million in 2022, and $5.84 million in 2021.
- For the full year 2025, capital expenditures were $6.89 million, and $5.58 million in 2024.
- In Q4 2025, Virtus Investment Partners invested $944K in capital expenditures.
Peer Outperformance in Asset Management & Custody Banks
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 13.2% | 64.9% | 112.9% | SPNT 160% · RGA 133% · RNR 131% |
| Investment Banking & Brokerage | 13 | -4.5% | 102.7% | 99.6% | IBKR 427% · SNEX 221% · HOOD 168% |
| Diversified Banks | 12 | 28.7% | 130.5% | 95.5% | CM 143% · RY 130% · JPM 120% |
| Life & Health Insurance | 20 | 6.7% | 50.5% | 86.8% | JXN 512% · UNM 292% · MFC 179% |
| Multi-Sector Holdings | 3 | 3.7% | 46.0% | 66.3% | BRK-B 79% · VOYA 66% · JEF 40% |
| Property & Casualty Insurance | 42 | 4.4% | 72.1% | 56.6% | ASIC 2550900% · HRTG 387% · UVE 295% |
| Regional Banks | 262 | 25.0% | 89.6% | 49.2% | GCBC 331% · ESQ 296% · PBAM 248% |
| Multi-line Insurance | 9 | 6.0% | 69.7% | 49.0% | GNW 135% · L 90% · AIZ 81% |
| Financial Exchanges & Data | 15 | -0.3% | 17.3% | 29.7% | VIRT 187% · CBOE 138% · CME 65% |
| Diversified Financial Services | 4 | -5.8% | 21.8% | 20.8% | FRHC 170% · EQH 99% · TMS -58% |
| Consumer Finance | 30 | 1.2% | 85.8% | 17.6% | ENVA 408% · EZPW 299% · FCFS 161% |
| Asset Management & Custody Banks ← | 82 | -10.1% | 18.6% | 15.0% | WT 354% · SII 280% · VCTR 276% |
| Insurance Brokers | 16 | -24.4% | -9.3% | 9.9% | LIFE 312% · ARX 88% · CRD-A 65% |
| Commercial & Residential Mortgage Finance | 14 | -50.2% | 23.2% | 2.1% | FNMA 464% · FMCC 434% · ACT 178% |
| Specialized Finance | 3 | 9.0% | 37.5% | -13.4% | EFC 17% · HASI -13% · CACC -14% |
| Mortgage REITs | 33 | -15.9% | 5.4% | -30.6% | NREF 51% · RITM 31% · DX 20% |
| Transaction & Payment Processing Services | 17 | -1.6% | -5.6% | -42.9% | V 67% · MA 65% · CPAY 54% |
| Diversified Capital Markets | 20 | -43.0% | 14.9% | -60.0% | OPY 170% · LPLA 107% · GOLD 47% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Virtus Investment Partners Earnings Notes | 12/16/2025 | |
| null | 10/17/2025 | |
| VRTS Dip Buy Analysis | 07/10/2025 | |
| Virtus Investment Partners (VRTS) Operating Cash Flow Comparison | 02/17/2025 | |
| Virtus Investment Partners (VRTS) Net Income Comparison | 02/16/2025 | |
| Virtus Investment Partners (VRTS) Operating Income Comparison | 02/15/2025 | |
| Virtus Investment Partners (VRTS) Revenue Comparison | 02/14/2025 | |
| Virtus Investment Partners vs. S&P500 Correlation | 10/03/2024 | |
| Virtus Investment Partners Price Volatility | 09/24/2024 | |
| Virtus Investment Partners (VRTS) Stock Has 54% Chance Of Rise In The Next One Month | 02/10/2023 | |
| ARTICLES | ||
| Stocks Trading At 52-Week Low | 03/10/2026 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 79.96 |
| Mkt Cap | 11.8 |
| Rev LTM | 4,586 |
| Op Inc LTM | 556 |
| FCF LTM | 716 |
| FCF 3Y Avg | 952 |
| CFO LTM | 723 |
| CFO 3Y Avg | 1,015 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.9% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 16.3% |
| QoQ Delta Rev Chg LTM | 3.7% |
| Op Inc Chg LTM | 4.5% |
| Op Inc Chg 3Y Avg | 1.9% |
| Op Mgn LTM | 20.6% |
| Op Mgn 3Y Avg | 23.0% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 22.4% |
| CFO/Rev 3Y Avg | 21.3% |
| FCF/Rev LTM | 20.5% |
| FCF/Rev 3Y Avg | 18.8% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Asset manager providing investment management and related services for individual and institutional | 853 | 907 | 845 | 886 | |
| Administration and shareholder service fees | 103 | ||||
| Distribution and service fees | 91 | ||||
| Investment management fees | 782 | ||||
| Other income and fees | 5 | ||||
| Total | 853 | 907 | 845 | 886 | 979 |
| $ Mil | 1999 | 1998 |
|---|---|---|
| Institutional | 23 | |
| All Other | -1 | 2 |
| Institional | 18 | |
| Total | 22 | 20 |
Price Behavior
| Market Price | $132.02 | |
| Market Cap ($ Bil) | 0.9 | |
| First Trading Date | 01/02/2009 | |
| Distance from 52W High | -27.6% | |
| 50 Days | 200 Days | |
| DMA Price | $152.88 | $145.74 |
| DMA Trend | down | down |
| Distance from DMA | -13.6% | -9.4% |
| 3M | 1YR | |
| Volatility | 31.8% | 35.6% |
| Downside Capture | 201.01 | 127.93 |
| Upside Capture | 84.99 | 68.47 |
| Correlation (SPY) | 35.8% | 32.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.38 | 1.21 | 1.03 | 0.89 | 0.90 | 1.10 |
| Up Beta | 3.77 | 1.30 | -0.23 | 0.58 | 0.33 | 0.96 |
| Down Beta | 3.68 | 2.38 | 1.95 | 1.07 | 1.29 | 1.11 |
| Up Capture | -25% | 37% | 104% | 77% | 58% | 93% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 8 | 19 | 33 | 68 | 129 | 383 |
| Down Capture | 327% | 220% | 150% | 115% | 116% | 107% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 14 | 23 | 31 | 58 | 123 | 368 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VRTS | |
|---|---|---|---|---|
| VRTS | -26.9% | 35.6% | -0.82 | - |
| Sector ETF (XLF) | 1.8% | 14.8% | -0.10 | 48.6% |
| Equity (SPY) | 17.5% | 13.0% | 0.96 | 32.8% |
| Gold (GLD) | 6.9% | 29.6% | 0.23 | 4.4% |
| Commodities (DBC) | 46.1% | 20.8% | 1.71 | -17.6% |
| Real Estate (VNQ) | 2.1% | 13.7% | -0.10 | 30.9% |
| Bitcoin (BTCUSD) | -29.8% | 44.3% | -0.67 | 14.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VRTS | |
|---|---|---|---|---|
| VRTS | -12.4% | 36.0% | -0.29 | - |
| Sector ETF (XLF) | 9.0% | 18.3% | 0.36 | 65.3% |
| Equity (SPY) | 13.9% | 17.1% | 0.62 | 61.1% |
| Gold (GLD) | 18.7% | 18.9% | 0.80 | 3.3% |
| Commodities (DBC) | 10.3% | 19.5% | 0.40 | 5.5% |
| Real Estate (VNQ) | 1.2% | 18.8% | -0.04 | 52.4% |
| Bitcoin (BTCUSD) | 16.0% | 52.2% | 0.47 | 29.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VRTS | |
|---|---|---|---|---|
| VRTS | 6.3% | 38.7% | 0.28 | - |
| Sector ETF (XLF) | 13.0% | 22.1% | 0.53 | 66.1% |
| Equity (SPY) | 15.6% | 17.9% | 0.74 | 62.2% |
| Gold (GLD) | 11.6% | 16.4% | 0.58 | 1.7% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 17.5% |
| Real Estate (VNQ) | 4.2% | 20.7% | 0.16 | 52.1% |
| Bitcoin (BTCUSD) | 64.1% | 66.2% | 1.04 | 18.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -2.6% | -2.1% | 1.2% |
| 5/1/2026 | -6.6% | -2.5% | 0.0% |
| 2/6/2026 | -7.1% | -8.6% | -12.4% |
| 10/24/2025 | -6.2% | -8.0% | -9.5% |
| 7/25/2025 | -7.5% | -8.5% | -5.2% |
| 4/25/2025 | -2.3% | 1.2% | 8.0% |
| 1/31/2025 | -4.5% | -8.5% | -12.1% |
| 10/25/2024 | 0.4% | 2.6% | 14.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 13 |
| # Negative | 13 | 15 | 11 |
| Median Positive | 2.4% | 3.4% | 8.0% |
| Median Negative | -4.5% | -5.6% | -9.5% |
| Max Positive | 7.6% | 13.2% | 19.0% |
| Max Negative | -7.5% | -11.9% | -17.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/30/2026 | -2.6% | -2.1% | 1.2% |
| 5/1/2026 | -6.6% | -2.5% | 0.0% |
| 2/6/2026 | -7.1% | -8.6% | -12.4% |
| 10/24/2025 | -6.2% | -8.0% | -9.5% |
| 7/25/2025 | -7.5% | -8.5% | -5.2% |
| 4/25/2025 | -2.3% | 1.2% | 8.0% |
| 1/31/2025 | -4.5% | -8.5% | -12.1% |
| 10/25/2024 | 0.4% | 2.6% | 14.8% |
| 7/26/2024 | -4.6% | -11.9% | -11.1% |
| 4/26/2024 | -1.4% | -2.4% | 1.7% |
| 2/2/2024 | -3.4% | -3.1% | -5.0% |
| 10/27/2023 | 0.3% | 13.2% | 13.1% |
| 7/28/2023 | -3.5% | -2.4% | -4.0% |
| 4/28/2023 | 2.3% | -6.1% | 9.1% |
| 2/3/2023 | 6.2% | -7.2% | -12.3% |
| 10/26/2022 | 0.3% | 1.8% | 13.2% |
| 7/29/2022 | 1.9% | 2.6% | -1.6% |
| 4/29/2022 | -3.7% | -4.2% | 5.4% |
| 2/4/2022 | 7.6% | 3.4% | -17.5% |
| 10/27/2021 | -6.8% | -2.3% | -4.4% |
| 7/28/2021 | 2.4% | 7.5% | 19.0% |
| 4/28/2021 | 4.4% | 3.8% | 6.4% |
| 2/2/2021 | 5.6% | 10.9% | 11.0% |
| 10/23/2020 | 5.1% | -5.6% | 6.3% |
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 13 |
| # Negative | 13 | 15 | 11 |
| Median Positive | 2.4% | 3.4% | 8.0% |
| Median Negative | -4.5% | -5.6% | -9.5% |
| Max Positive | 7.6% | 13.2% | 19.0% |
| Max Negative | -7.5% | -11.9% | -17.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 11/06/2019 | 10-Q |
Insider Activity
Updated 9/15/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Morris, W Howard | The Prairie & Tireman Group, LLC | Sell | 9152026 | 138.59 | 435 | Form | |||
| 2 | Angerthal, Michael A | EVP, CFO & Treasurer | Direct | Sell | 8042026 | 167.34 | 14,975 | 2,505,955 | 10,619,725 | Form |
| 3 | Mandinach, Barry M | EVP, Head of Distribution | Direct | Sell | 6172026 | 144.76 | 5,000 | 723,820 | 1,565,623 | Form |
| 4 | Morris, W Howard | Direct | Buy | 3162026 | 129.62 | 1,900 | 246,278 | 558,273 | Form | |
| 5 | Morris, W Howard | Spouse | Buy | 3162026 | 129.23 | 150 | 19,384 | 19,384 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Morris, W Howard | The Prairie & Tireman Group, LLC | Sell | 9152026 | 138.59 | 435 | Form | |||
| 2 | Angerthal, Michael A | EVP, CFO & Treasurer | Direct | Sell | 8042026 | 167.34 | 14,975 | 2,505,955 | 10,619,725 | Form |
| 3 | Mandinach, Barry M | EVP, Head of Distribution | Direct | Sell | 6172026 | 144.76 | 5,000 | 723,820 | 1,565,623 | Form |
| 4 | Morris, W Howard | Direct | Buy | 3162026 | 129.62 | 1,900 | 246,278 | 558,273 | Form | |
| 5 | Morris, W Howard | Spouse | Buy | 3162026 | 129.23 | 150 | 19,384 | 19,384 | Form | |
| 6 | Morris, W Howard | The Prairie and Tireman Group Pension Plan | Buy | 3162026 | 129.35 | 2,000 | 258,700 | 258,700 | Form | |
| 7 | Fleming, Susan S | Direct | Sell | 2112026 | 142.31 | 3,322 | 472,761 | 1,473,641 | Form | |
| 8 | Fleming, Susan S | Direct | Sell | 12122025 | 168.29 | 2,959 | 497,981 | 2,301,750 | Form |
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