KLP Kapitalforvaltning AS Invests $1.24 Million in Virtu Financial, Inc. (NASDAQ:VIRT)

KLP Kapitalforvaltning AS acquired a new stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,800 shares of the financial services provider's stock, valued at approximately $1,242,000.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Virtu Financial during the 4th quarter valued at about $25,000. Kestra Investment Management LLC purchased a new position in shares of Virtu Financial in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC raised its holdings in Virtu Financial by 172.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider's stock valued at $31,000 after buying an additional 551 shares during the period. Albion Financial Group UT acquired a new position in shares of Virtu Financial during the 4th quarter valued at $45,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Virtu Financial during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 45.78% of the company's stock.

Insider Activity

In other Virtu Financial news, COO Brett Fairclough sold 72,967 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total transaction of $2,688,104.28. Following the sale, the chief operating officer now directly owns 90,749 shares in the company, valued at approximately $3,343,193.16. This trade represents a 44.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Stephen Cavoli sold 34,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $37.41, for a total value of $1,271,940.00. Following the transaction, the executive vice president now owns 157,703 shares of the company's stock, valued at approximately $5,899,669.23. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,967 shares of company stock worth $5,213,964. Insiders own 46.70% of the company's stock.

Virtu Financial Stock Down 4.8 %

NASDAQ VIRT traded down $1.90 during trading on Thursday, hitting $37.40. 1,101,588 shares of the company traded hands, compared to its average volume of 1,166,460. The business has a fifty day simple moving average of $37.50 and a 200 day simple moving average of $35.52. Virtu Financial, Inc. has a 12 month low of $20.15 and a 12 month high of $41.38. The company has a current ratio of 1.13, a quick ratio of 0.46 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $5.79 billion, a P/E ratio of 12.59, a PEG ratio of 1.43 and a beta of 0.71.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.32. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. As a group, sell-side analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, February 28th. Virtu Financial's dividend payout ratio (DPR) is currently 32.32%.

Analyst Ratings Changes

A number of research firms have weighed in on VIRT. Piper Sandler upped their price target on Virtu Financial from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Bank of America lowered their target price on Virtu Financial from $56.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Virtu Financial from $31.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Five 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, the company presently has an average rating of "Hold" and a consensus target price of $33.21.

About Virtu Financial

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.