Virtus Investment Partners, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 02, 2024 at 07:02 am EST
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Virtus Investment Partners, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 214.59 million compared to USD 198.37 million a year ago. Net income was USD 30.83 million compared to USD 35.4 million a year ago. Basic earnings per share from continuing operations was USD 4.3 compared to USD 4.87 a year ago. Diluted earnings per share from continuing operations was USD 4.21 compared to USD 4.77 a year ago.
For the full year, revenue was USD 845.27 million compared to USD 886.38 million a year ago. Net income was USD 130.62 million compared to USD 117.54 million a year ago. Basic earnings per share from continuing operations was USD 18.02 compared to USD 15.9 a year ago. Diluted earnings per share from continuing operations was USD 17.71 compared to USD 15.5 a year ago.
Virtus Investment Partners, Inc. provides investment management and related services to individuals and institutions. The Company offers investments strategies for individual and institutional investors in different investment product structures and through multiple distribution channels. The Company provides various asset classes (equity, fixed income, multi-asset and alternative), geographies (domestic, global, international, and emerging), market capitalizations (large, mid, and small), styles (growth, core, and value) and investment approaches (fundamental and quantitative). Its retail products include open-end funds and exchange traded funds (ETFs), as well as closed-end funds and retail separate accounts. Its institutional products are offered through separate accounts and pooled to a variety of institutional clients. The Company also provides sub advisory services to other investment advisers and serve as the collateral manager for structured products.