Virtus Investment Partners reported a decrease in net income attributable to Virtus Investment Partners, Inc. at $33.1 million, and a diluted EPS of $4.22. However, the adjusted EPS was $7.87. The total assets under management were $183.3 billion.
Total sales increased to $9.4 billion, driven by growth in open-end funds and institutional sales.
Net flows were negative at ($2.0) billion, as positive flows in institutional and retail separate accounts were offset by open-end fund outflows.
Assets under management decreased to $183.3 billion due to market performance and open-end fund net outflows, partially offset by the acquisition of Stone Harbor Investment Partners.
The company repurchased 125,452 shares of common stock for $30.0 million during the quarter.
This document does not contain forward guidance.
Analyze how earnings announcements historically affect stock price performance