Mercer Global Advisors Inc. ADV lessened its position in Virtu Financial, Inc. (NASDAQ:VIRT – Get Rating) by 19.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,249 shares of the financial services provider’s stock after selling 10,522 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Virtu Financial were worth $862,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors acquired a new stake in shares of Virtu Financial during the first quarter worth $58,287,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Virtu Financial during the fourth quarter worth $28,129,000. Federated Hermes Inc. raised its position in shares of Virtu Financial by 553.8% during the first quarter. Federated Hermes Inc. now owns 810,853 shares of the financial services provider’s stock worth $30,180,000 after purchasing an additional 686,824 shares during the period. Prudential Financial Inc. raised its position in shares of Virtu Financial by 7,294.9% during the second quarter. Prudential Financial Inc. now owns 447,167 shares of the financial services provider’s stock worth $10,531,000 after purchasing an additional 441,120 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Virtu Financial by 76.1% during the third quarter. First Trust Advisors LP now owns 832,633 shares of the financial services provider’s stock worth $17,294,000 after purchasing an additional 359,694 shares during the period. Institutional investors own 50.17% of the company’s stock.
Analysts Set New Price Targets
VIRT has been the topic of a number of recent analyst reports. Citigroup cut their target price on Virtu Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 4th. StockNews.com began coverage on Virtu Financial in a research report on Thursday. They set a “hold” rating on the stock. TheStreet lowered Virtu Financial from a “b-” rating to a “c+” rating in a research report on Thursday, March 9th. Morgan Stanley raised Virtu Financial from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $18.00 to $21.00 in a research report on Tuesday, April 11th. Finally, JPMorgan Chase & Co. dropped their price target on Virtu Financial from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Friday, January 27th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.29.
Insider Buying and Selling at Virtu Financial
Virtu Financial Stock Performance
Shares of NASDAQ VIRT opened at $18.10 on Friday. The business’s 50-day moving average price is $18.41 and its two-hundred day moving average price is $19.85. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.53 and a quick ratio of 0.53. Virtu Financial, Inc. has a one year low of $16.26 and a one year high of $26.61. The company has a market capitalization of $2.98 billion, a P/E ratio of 9.14 and a beta of 0.21.
Virtu Financial (NASDAQ:VIRT – Get Rating) last issued its earnings results on Thursday, April 20th. The financial services provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. Virtu Financial had a return on equity of 22.53% and a net margin of 9.26%. The firm had revenue of $373.08 million for the quarter, compared to the consensus estimate of $326.19 million. Analysts anticipate that Virtu Financial, Inc. will post 2.14 earnings per share for the current fiscal year.
Virtu Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 5.30%. Virtu Financial’s dividend payout ratio (DPR) is currently 48.48%.
About Virtu Financial
Virtu Financial, Inc engages in the provision of market making and liquidity services. It operates through the following segments: Market Making, Execution Services and Corporate. The Market Making segment engages in the buying and selling of securities and other financial instruments. The Execution Services segment agency offers trading venues that provide transparent trading in global equities, ETFs, and fixed income to institutions, banks and broker dealers.
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