VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.93 Million in Virtu Financial, Inc. $VIRT

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Virtu Financial, Inc. (NASDAQ:VIRT) during the second quarter, Holdings Channel reports. The firm bought 65,338 shares of the financial services provider’s stock, valued at approximately $2,926,000.

A number of other hedge funds have also recently modified their holdings of the stock. Allianz Asset Management GmbH boosted its stake in shares of Virtu Financial by 13.2% in the second quarter. Allianz Asset Management GmbH now owns 1,202,847 shares of the financial services provider’s stock worth $53,876,000 after buying an additional 139,836 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Virtu Financial in the 2nd quarter worth about $175,000. Moran Wealth Management LLC raised its holdings in Virtu Financial by 10.7% in the 2nd quarter. Moran Wealth Management LLC now owns 7,054 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 679 shares during the period. Yousif Capital Management LLC raised its holdings in Virtu Financial by 0.8% in the 2nd quarter. Yousif Capital Management LLC now owns 29,986 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 227 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Virtu Financial by 3.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 960,406 shares of the financial services provider’s stock worth $41,662,000 after purchasing an additional 30,296 shares during the period. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Insider Activity at Virtu Financial

In related news, COO Brett Fairclough sold 90,701 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $42.40, for a total value of $3,845,722.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 47.20% of the company’s stock.

Virtu Financial Price Performance

Shares of Virtu Financial stock opened at $32.99 on Tuesday. The business has a 50 day simple moving average of $37.39 and a two-hundred day simple moving average of $40.00. Virtu Financial, Inc. has a 12 month low of $29.82 and a 12 month high of $45.77. The stock has a market capitalization of $5.04 billion, a P/E ratio of 9.53, a PEG ratio of 1.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Tuesday, March 12th. The financial services provider reported $0.37 EPS for the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%.The business had revenue of $274.00 million during the quarter. As a group, analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 29th. Virtu Financial’s dividend payout ratio (DPR) is currently 21.82%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on VIRT shares. Morgan Stanley upped their price target on Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a report on Tuesday, July 15th. Piper Sandler upped their price target on Virtu Financial from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group reduced their price target on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $45.00 price target (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $41.43.

Virtu Financial 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.