Bank of Nova Scotia grew its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT – Get Rating) by 6.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,053 shares of the financial services provider’s stock after purchasing an additional 3,561 shares during the quarter. Bank of Nova Scotia’s holdings in Virtu Financial were worth $1,289,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. McIlrath & Eck LLC acquired a new position in shares of Virtu Financial during the second quarter worth about $35,000. Catalyst Capital Advisors LLC acquired a new position in shares of Virtu Financial in the first quarter worth about $49,000. MetLife Investment Management LLC acquired a new position in shares of Virtu Financial in the first quarter worth about $65,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Virtu Financial in the first quarter worth about $130,000. Finally, Fifth Third Bancorp lifted its stake in shares of Virtu Financial by 22.3% in the second quarter. Fifth Third Bancorp now owns 7,014 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 1,281 shares in the last quarter. Institutional investors and hedge funds own 50.91% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently commented on VIRT shares. Evercore ISI cut their price target on Virtu Financial to $25.00 in a research note on Friday, July 22nd. Morgan Stanley boosted their price target on Virtu Financial from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, November 10th. Citigroup assumed coverage on Virtu Financial in a report on Tuesday, October 11th. They issued a “buy” rating and a $26.00 price objective for the company. StockNews.com assumed coverage on Virtu Financial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Piper Sandler lowered their price objective on Virtu Financial from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Virtu Financial presently has a consensus rating of “Hold” and a consensus price target of $29.50.
Virtu Financial Stock Up 1.6 %
Shares of Virtu Financial stock opened at $21.86 on Friday. The firm has a market cap of $3.69 billion, a P/E ratio of 7.24 and a beta of 0.03. The business has a 50-day moving average price of $22.03 and a 200 day moving average price of $23.40. Virtu Financial, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $38.63. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.07.
Virtu Financial Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Wednesday, November 30th. Virtu Financial’s dividend payout ratio (DPR) is presently 31.79%.
Virtu Financial Profile
Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology.
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