Virtu Financial (NASDAQ:VIRT) Hits New 52-Week High Following Dividend Announcement

Shares of Virtu Financial, Inc. (NASDAQ:VIRT - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $40.88 and last traded at $40.99, with a volume of 272119 shares trading hands. The stock had previously closed at $40.09.

The newly announced dividend which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a yield of 2.47%. Virtu Financial's dividend payout ratio is 32.32%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of Virtu Financial from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Tuesday, January 7th. Morgan Stanley lifted their price objective on Virtu Financial from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Virtu Financial currently has a consensus rating of "Hold" and an average price target of $31.36.

Virtu Financial Trading Down 3.3 %

The business's fifty day moving average is $37.08 and its two-hundred day moving average is $33.57. The company has a quick ratio of 0.46, a current ratio of 1.13 and a debt-to-equity ratio of 1.17. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.61 and a beta of 0.46.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 EPS 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%. Equities analysts anticipate that Virtu Financial, Inc. will post 3.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virtu Financial

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. increased its stake in Virtu Financial by 13.0% in the fourth quarter. Blue Trust Inc. now owns 2,794 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 322 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in shares of Virtu Financial by 1.2% in the fourth quarter. Hanseatic Management Services Inc. now owns 30,132 shares of the financial services provider's stock worth $1,075,000 after acquiring an additional 371 shares in the last quarter. HBW Advisory Services LLC raised its position in shares of Virtu Financial by 6.8% during the fourth quarter. HBW Advisory Services LLC now owns 7,974 shares of the financial services provider's stock worth $285,000 after purchasing an additional 509 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Virtu Financial by 172.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 870 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 551 shares during the period. Finally, R Squared Ltd bought a new stake in Virtu Financial during the 4th quarter worth approximately $25,000. Institutional investors and hedge funds own 45.78% of the company's stock.

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.