Virtu Financial, Inc. Plans Quarterly Dividend of $0.24 (NASDAQ:VIRT)

Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Sunday, December 1st will be given a dividend of 0.24 per share by the financial services provider on Sunday, December 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, November 29th.

Virtu Financial has a dividend payout ratio of 31.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Virtu Financial to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 37.1%.

Virtu Financial Price Performance

Shares of NASDAQ VIRT traded up $0.11 during midday trading on Friday, reaching $30.97. The company's stock had a trading volume of 1,104,090 shares, compared to its average volume of 1,282,295. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $4.87 billion, a P/E ratio of 21.66, a P/E/G ratio of 0.49 and a beta of 0.38. The business's 50 day moving average price is $31.41 and its two-hundred day moving average price is $26.48. Virtu Financial has a fifty-two week low of $16.02 and a fifty-two week high of $33.55.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup raised their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Monday, September 30th. Bank of America reduced their price target on shares of Virtu Financial from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, October 3rd. UBS Group lifted their price objective on shares of Virtu Financial from $18.00 to $24.00 and gave the company a "neutral" rating in a research note on Monday, July 1st. Finally, Morgan Stanley upped their target price on Virtu Financial from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.50.

Insider Buying and Selling at Virtu Financial

In other news, Director Virginia Gambale sold 5,400 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the transaction, the director now directly owns 24,122 shares in the company, valued at approximately $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 46.70% of the company's stock.

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.