Virtu Financial, Inc. (NASDAQ:VIRT) Shares Acquired by Raymond James & Associates

Raymond James & Associates lifted its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 298,418 shares of the financial services provider's stock after buying an additional 21,918 shares during the period. Raymond James & Associates owned about 0.19% of Virtu Financial worth $9,090,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Virtu Financial by 1.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 745,437 shares of the financial services provider's stock valued at $15,296,000 after purchasing an additional 9,826 shares during the period. Norden Group LLC purchased a new position in Virtu Financial during the 1st quarter valued at approximately $616,000. SpiderRock Advisors LLC purchased a new position in Virtu Financial during the 1st quarter valued at approximately $455,000. Private Advisor Group LLC bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $358,000. Finally, Diversify Advisory Services LLC bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $957,000. 45.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Virtu Financial

In other news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total value of $147,420.00. Following the sale, the director now directly owns 24,122 shares in the company, valued at approximately $658,530.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 Trading Up 0.7 %

NASDAQ:VIRT traded up $0.21 on Wednesday, hitting $31.22. The stock had a trading volume of 881,579 shares, compared to its average volume of 1,276,077. The company has a quick ratio of 0.47, a current ratio of 1.14 and a debt-to-equity ratio of 1.23. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 0.46 and a beta of 0.38. The company has a fifty day moving average price of $31.46 and a two-hundred day moving average price of $26.71. Virtu Financial, Inc. has a 1-year low of $16.02 and a 1-year high of $33.55.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last posted 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 firm had revenue of $388.00 million during the quarter, compared to the consensus estimate of $379.18 million. During the same quarter last year, the firm earned $0.40 EPS. The firm's revenue for the quarter was up 30.2% on a year-over-year basis. Equities research analysts expect that Virtu Financial, Inc. will post 2.66 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.24 per share. The ex-dividend date is Sunday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 3.07%. Virtu Financial's dividend payout ratio is currently 67.13%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VIRT. The Goldman Sachs Group raised their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Monday, September 30th. Citigroup lifted their price target on Virtu Financial from $32.00 to $37.00 and gave the company 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 note on Thursday, October 17th. Piper Sandler reiterated an "overweight" rating and set a $35.00 price target on shares of Virtu Financial in a research note on Thursday, October 24th. Finally, Bank of America dropped their price target 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.50.

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.