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

Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.24 per share by the financial services provider on Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, February 28th.

Virtu Financial has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Virtu Financial to earn $2.91 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 33.0%.

Virtu Financial Stock Down 0.5 %

Shares of NASDAQ VIRT traded down $0.21 during mid-day trading on Monday, reaching $39.85. The company had a trading volume of 839,532 shares, compared to its average volume of 865,978. Virtu Financial has a 52-week low of $16.02 and a 52-week high of $40.79. The stock has a market cap of $6.16 billion, a P/E ratio of 13.42, a PEG ratio of 0.52 and a beta of 0.46. 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 firm has a 50 day simple moving average of $36.86 and a two-hundred day simple moving average of $33.29.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.32. Virtu Financial had a net margin of 9.61% and a return on equity of 27.39%. Sell-side analysts predict that Virtu Financial will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on VIRT shares. Morgan Stanley upped 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 report on Thursday, October 17th. Citigroup raised their price objective 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. Finally, Piper Sandler boosted their target price on Virtu Financial from $35.00 to $40.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.