64,696 Shares in Virtu Financial, Inc. (NASDAQ:VIRT) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D purchased a new stake in Virtu Financial, Inc. (NASDAQ:VIRT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,696 shares of the financial services provider’s stock, valued at approximately $1,971,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of Virtu Financial during the third quarter worth about $33,000. International Assets Investment Management LLC purchased a new position in Virtu Financial during the 2nd quarter worth approximately $39,000. Innealta Capital LLC acquired a new position in Virtu Financial during the second quarter worth approximately $46,000. First Horizon Advisors Inc. lifted its stake in Virtu Financial by 21.0% in the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after buying an additional 372 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Virtu Financial by 55.3% in the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 781 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.

Virtu Financial Trading Down 0.8 %

NASDAQ VIRT opened at $34.92 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $32.17 and a 200 day moving average price of $27.81. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $36.98. The stock has a market capitalization of $5.40 billion, a P/E ratio of 17.55, a P/E/G ratio of 0.55 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business’s revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. Equities research analysts expect that Virtu Financial, Inc. will post 2.7 EPS for the current year.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 2.75%. Virtu Financial’s payout ratio is currently 48.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VIRT. Citigroup lifted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Piper Sandler reissued an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a report on Thursday, October 24th. Bank of America reduced their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Finally, Morgan Stanley lifted their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Virtu Financial currently 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.