Hartford wealth-manager Virtus Investments Inc. on Friday said its second-quarter profits jumped 18 percent due in part to higher sales of its investment products.
For the quarter ended June 30, Virtus posted net income of $24.8 million, or $3.26 a diluted share, up from the $21 million, or $2.75, recorded in the second quarter of 2018.
Revenues for the April-June period rose 6 percent to $140.8 million.
Virtus ended the quarter with assets under management of $105 billion, up 15 percent from $101.7 billion in the first quarter of 2019.
