Everence Capital Management Inc. Makes New Investment in Virtu Financial, Inc. (NASDAQ:VIRT)

Everence Capital Management Inc. purchased a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,790 shares of the financial services provider’s stock, valued at approximately $207,000.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Virtu Financial during the first quarter worth $26,000. USA Financial Formulas acquired a new position in Virtu Financial during the third quarter worth $33,000. International Assets Investment Management LLC acquired a new position in Virtu Financial during the second quarter worth $39,000. Abich Financial Wealth Management LLC lifted its stake in Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Virtu Financial during the second quarter worth $46,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Stock Performance

NASDAQ:VIRT opened at $32.78 on Wednesday. The firm has a market capitalization of $5.15 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.53 and a beta of 0.38. The business’s fifty day moving average price is $31.30 and its 200 day moving average price is $26.33. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.43 and a quick ratio of 0.43. Virtu Financial, Inc. has a 12 month low of $16.02 and a 12 month high of $33.55.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is presently 67.13%.

Insider Activity at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the transaction, the director now owns 24,122 shares of the company’s stock, valued at $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 46.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on VIRT. UBS Group upped their price target on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, July 1st. Bank of America cut their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Citigroup upped their price objective on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, Piper Sandler upped their price objective on Virtu Financial from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.50.

Virtu Financial Company Profile

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.