OLD National Bancorp IN Cuts Stake in Virtu Financial, Inc. (NASDAQ:VIRT)

OLD National Bancorp IN reduced its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 10.4% during the 4th quarter, HoldingsChannel reports. The fund owned 328,926 shares of the financial services provider’s stock after selling 38,186 shares during the period. OLD National Bancorp IN’s holdings in Virtu Financial were worth $11,736,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in shares of Virtu Financial during the 3rd quarter worth about $1,081,000. State of New Jersey Common Pension Fund D purchased a new position in Virtu Financial in the third quarter valued at approximately $1,971,000. Barclays PLC raised its holdings in Virtu Financial by 60.2% in the third quarter. Barclays PLC now owns 55,486 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 20,843 shares during the period. Bridgewater Associates LP raised its holdings in Virtu Financial by 124.7% in the third quarter. Bridgewater Associates LP now owns 53,785 shares of the financial services provider’s stock valued at $1,638,000 after buying an additional 29,844 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Virtu Financial by 48.6% in the third quarter. JPMorgan Chase & Co. now owns 358,065 shares of the financial services provider’s stock valued at $10,907,000 after buying an additional 117,062 shares during the period. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on VIRT shares. Morgan Stanley raised their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on shares of Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Bank of America cut their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Citigroup raised their price target 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. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.21.

Virtu Financial Stock Up 1.7 %

VIRT stock opened at $39.61 on Thursday. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $40.30. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $6.12 billion, a P/E ratio of 19.90, a PEG ratio of 0.49 and a beta of 0.45. The firm has a 50 day simple moving average of $36.69 and a 200-day simple moving average of $32.90.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. On average, equities research analysts predict that Virtu Financial, Inc. will post 2.9 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, November 29th. Virtu Financial’s payout ratio is currently 48.24%.

About Virtu Financial

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.