Advisors Asset Management Inc. Lowers Stock Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

Advisors Asset Management Inc. lowered its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 45.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,016 shares of the financial services provider’s stock after selling 5,106 shares during the period. Advisors Asset Management Inc.’s holdings in Virtu Financial were worth $183,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Virtu Financial by 3.5% in the second quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock valued at $81,801,000 after acquiring an additional 124,563 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Virtu Financial by 39.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock worth $27,295,000 after purchasing an additional 342,327 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Virtu Financial in the 3rd quarter worth approximately $29,815,000. Old West Investment Management LLC grew its holdings in Virtu Financial by 4.3% during the 2nd quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock valued at $15,298,000 after buying an additional 28,199 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Virtu Financial during the second quarter valued at approximately $9,751,000. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Virtu Financial Trading Down 0.1 %

Shares of NASDAQ VIRT opened at $37.31 on Friday. The business’s 50 day moving average is $33.10 and its two-hundred day moving average is $28.64. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $38.45. The stock has a market capitalization of $5.77 billion, a P/E ratio of 18.76, a PEG ratio of 0.58 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. As a group, research analysts expect that Virtu Financial, Inc. will post 2.71 EPS for the current year.

Virtu Financial Dividend Announcement

The firm 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 of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.57%. Virtu Financial’s dividend payout ratio (DPR) is presently 48.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective 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. Citigroup lifted their target price on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Bank of America reduced their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Virtu Financial has a consensus rating of “Hold” and a consensus price target of $29.50.

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.