Virtu Financial, Inc. (NASDAQ:VIRT) Stock Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 48.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,065 shares of the financial services provider's stock after purchasing an additional 117,062 shares during the quarter. JPMorgan Chase & Co. owned 0.23% of Virtu Financial worth $10,907,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. FMR LLC raised its holdings in shares of Virtu Financial by 38.0% in the 3rd quarter. FMR LLC now owns 4,974,095 shares of the financial services provider's stock worth $151,511,000 after purchasing an additional 1,368,419 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Virtu Financial by 3.5% in the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider's stock worth $81,801,000 after purchasing an additional 124,563 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Virtu Financial during the 3rd quarter valued at about $29,815,000. Old West Investment Management LLC raised its holdings in shares of 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 during the period. Finally, Portolan Capital Management LLC purchased a new stake in shares of Virtu Financial during the 3rd quarter valued at about $11,918,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Virtu Financial Stock Performance

NASDAQ:VIRT traded down $0.43 during midday trading on Monday, reaching $34.21. 922,861 shares of the company traded hands, compared to its average volume of 967,094. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $38.45. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.49 and a beta of 0.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The company has a fifty day moving average price of $35.96 and a 200 day moving average price of $31.60.

Virtu Financial (NASDAQ:VIRT - Get Free Report) 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. The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The firm's revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. On average, analysts expect that Virtu Financial, Inc. will post 2.71 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend was Friday, November 29th. Virtu Financial's payout ratio is currently 48.24%.

Wall Street Analyst Weigh In

VIRT has been the topic of several analyst reports. Bank of America dropped their target price on Virtu Financial from $37.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, October 3rd. Citigroup raised their price objective on Virtu Financial from $32.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Monday, September 30th. Piper Sandler raised their price objective on Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley raised their price objective on Virtu Financial from $23.00 to $25.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Virtu Financial presently has a consensus rating of "Hold" and an average price target of $30.21.

Virtu Financial Company 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.