Virtu Financial, Inc. to Issue Quarterly Dividend of $0.24 (NASDAQ:VIRT)

Virtu Financial, Inc. (NASDAQ:VIRT) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Friday, February 27th will be given a dividend of 0.24 per share by the financial services provider on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, February 27th.

Virtu Financial has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Virtu Financial to earn $3.23 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 29.7%.

Virtu Financial Stock Performance

NASDAQ:VIRT traded up $3.20 during midday trading on Thursday, reaching $40.69. The stock had a trading volume of 2,136,418 shares, compared to its average volume of 1,219,779. The firm has a fifty day simple moving average of $34.71 and a two-hundred day simple moving average of $36.94. Virtu Financial has a 12-month low of $31.55 and a 12-month high of $45.77. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The stock has a market cap of $6.22 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.14 and a beta of 0.58.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The company had revenue of $467.02 million during the quarter, compared to the consensus estimate of $422.92 million. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. Virtu Financial’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. On average, equities analysts expect that Virtu Financial will post 3.13 EPS for the current year.

Institutional Trading of Virtu Financial

Several large investors have recently modified their holdings of VIRT. Ashton Thomas Private Wealth LLC raised its position in shares of Virtu Financial by 9.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 6,263 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 544 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Virtu Financial by 12.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,307 shares of the financial services provider’s stock worth $443,000 after buying an additional 1,472 shares in the last quarter. Sanctuary Advisors LLC increased its position in Virtu Financial by 118.2% during the fourth quarter. Sanctuary Advisors LLC now owns 17,291 shares of the financial services provider’s stock worth $576,000 after buying an additional 9,368 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Virtu Financial by 131.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 24,998 shares of the financial services provider’s stock worth $833,000 after acquiring an additional 14,209 shares during the last quarter. Finally, Legacy Capital Group California Inc. lifted its position in shares of Virtu Financial by 5.4% in the fourth quarter. Legacy Capital Group California Inc. now owns 11,553 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 590 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

About Virtu Financial

Virtu Financial, Inc (NASDAQ: VIRT) is a leading global electronic trading firm specializing in market making, liquidity provision and trade execution services across a broad range of asset classes. Leveraging advanced quantitative models and proprietary trading technology, Virtu provides continuous bid and ask quotes in equities, fixed income, foreign exchange, commodities and digital assets. The firm’s infrastructure is designed to operate at high speeds and low latencies, enabling tight spreads and efficient price discovery for its clients.

In addition to its market-making activities, Virtu offers agency execution services, algorithmic trading strategies and transaction cost analysis tools.