Raymond James & Associates grew its position in Virtu Financial, Inc. (NASDAQ:VIRT – Get Rating) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,527 shares of the financial services provider’s stock after purchasing an additional 11,089 shares during the quarter. Raymond James & Associates’ holdings in Virtu Financial were worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of VIRT. National Bank of Canada FI lifted its stake in shares of Virtu Financial by 11,933.5% during the 2nd quarter. National Bank of Canada FI now owns 50,300 shares of the financial services provider’s stock valued at $1,178,000 after buying an additional 49,882 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Virtu Financial in the second quarter valued at about $1,838,000. CI Investments Inc. lifted its position in shares of Virtu Financial by 25.2% in the second quarter. CI Investments Inc. now owns 24,148 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 4,863 shares in the last quarter. Econ Financial Services Corp bought a new position in shares of Virtu Financial in the third quarter worth about $1,931,000. Finally, Castleview Partners LLC purchased a new stake in shares of Virtu Financial during the second quarter worth about $1,290,000. 50.17% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Citigroup downgraded Virtu Financial from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $22.50 in a research note on Thursday, January 12th. UBS Group dropped their target price on shares of Virtu Financial from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, January 6th. Piper Sandler reduced their price target on shares of Virtu Financial from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, January 11th. Morgan Stanley dropped their price objective on shares of Virtu Financial from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Wednesday, January 11th. Finally, StockNews.com assumed coverage on Virtu Financial in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.94.
Insider Activity at Virtu Financial
Virtu Financial Stock Performance
Virtu Financial stock opened at $19.78 on Friday. The company’s 50-day moving average price is $21.23 and its 200-day moving average price is $22.16. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.07. The company has a market cap of $3.34 billion, a PE ratio of 6.55 and a beta of 0.04. Virtu Financial, Inc. has a twelve month low of $19.59 and a twelve month high of $38.63.
Virtu Financial (NASDAQ:VIRT – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. Virtu Financial had a return on equity of 38.81% and a net margin of 13.27%. The company had revenue of $331.14 million for the quarter, compared to analysts’ expectations of $307.23 million. On average, equities research analysts forecast that Virtu Financial, Inc. will post 2.92 EPS for the current fiscal year.
Virtu Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.96 annualized dividend and a yield of 4.85%. Virtu Financial’s payout ratio is presently 31.79%.
About Virtu Financial
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.
- Get a free copy of the StockNews.com research report on Virtu Financial (VIRT)
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