Virtus: 4Q Earnings Snapshot
HARTFORD, Conn. (AP) _ Virtus Investment Partners Inc. (VRTS) on Tuesday reported fourth-quarter profit of $43.3 million.
The Hartford, Connecticut-based company said it had profit of $5.40 per share. Earnings, adjusted for non-recurring gains, were $5.15 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $4.94 per share.
The asset management company posted revenue of $171.6 million in the period. Its adjusted revenue was $153.5 million.
For the year, the company reported profit of $80 million, or $10.02 per share. Revenue was reported as $536.4 million.
Virtus shares have increased 2% since the beginning of the year. The stock has climbed 75% in the last 12 months.