State Street Corp Has $98.63 Million Position in Virtu Financial, Inc. (NASDAQ:VIRT)

State Street Corp trimmed its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 4.5% during the third quarter, HoldingsChannel.com reports. The fund owned 3,238,087 shares of the financial services provider’s stock after selling 154,123 shares during the quarter. State Street Corp’s holdings in Virtu Financial were worth $98,632,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D bought a new stake in shares of Virtu Financial during the 3rd quarter worth $1,971,000. Seven Eight Capital LP boosted its stake in shares of Virtu Financial by 41.9% in the 2nd quarter. Seven Eight Capital LP now owns 94,608 shares of the financial services provider’s stock valued at $2,124,000 after purchasing an additional 27,948 shares in the last quarter. Bridgewater Associates LP lifted its stake in Virtu Financial by 124.7% in the 3rd quarter. Bridgewater Associates LP now owns 53,785 shares of the financial services provider’s stock valued at $1,638,000 after purchasing an additional 29,844 shares during the last quarter. XTX Topco Ltd acquired a new stake in Virtu Financial in the second quarter valued at approximately $381,000. Finally, Scientech Research LLC acquired a new position in shares of Virtu Financial during the second quarter worth $395,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

VIRT has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Citigroup upped their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley boosted their price objective on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research report on Thursday, October 24th. Finally, Bank of America lowered their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Virtu Financial presently has an average rating of “Hold” and an average target price of $29.50.

Virtu Financial Stock Performance

Shares of Virtu Financial stock opened at $36.49 on Monday. The business has a 50-day moving average price of $34.38 and a two-hundred day moving average price of $29.78. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $38.45. 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 cap of $5.64 billion, a P/E ratio of 18.34, a PEG ratio of 0.49 and a beta of 0.43.

Virtu Financial (NASDAQ:VIRT) last released 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. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The business had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $379.18 million. During the same quarter last year, the firm posted $0.40 earnings per share. The firm’s revenue was up 30.2% on a year-over-year basis. As a group, analysts anticipate that Virtu Financial, Inc. will post 2.71 EPS for the current year.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.63%. Virtu Financial’s dividend payout ratio is currently 48.24%.

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.