Wealthfront Advisers LLC purchased a new stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,740 shares of the financial services provider's stock, valued at approximately $383,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VIRT. AGF Management Ltd. bought a new position in Virtu Financial in the 4th quarter worth $2,534,000. Moran Wealth Management LLC bought a new position in Virtu Financial in the 4th quarter worth $245,000. AlphaQuest LLC raised its holdings in Virtu Financial by 2,749.7% in the 4th quarter. AlphaQuest LLC now owns 4,702 shares of the financial services provider's stock worth $168,000 after purchasing an additional 4,537 shares in the last quarter. Amundi bought a new position in Virtu Financial in the 4th quarter worth $3,261,000. Finally, PNC Financial Services Group Inc. raised its holdings in Virtu Financial by 98.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 13,153 shares of the financial services provider's stock worth $469,000 after purchasing an additional 6,535 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors.
Insider Activity at Virtu Financial
In other news, COO Brett Fairclough sold 72,967 shares of Virtu Financial stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total value of $2,688,104.28. Following the completion of the sale, the chief operating officer now directly owns 90,749 shares in the company, valued at $3,343,193.16. The trade was a 44.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Cavoli sold 34,000 shares of Virtu Financial stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $36.88, for a total transaction of $1,253,920.00. Following the completion of the sale, the executive vice president now owns 191,703 shares of the company's stock, valued at $7,070,006.64. This represents a 15.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,967 shares of company stock valued at $5,213,964. 46.70% of the stock is owned by insiders.
Analysts Set New Price Targets
Several brokerages have commented on VIRT. Morgan Stanley upped their price objective on shares of Virtu Financial from $31.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Piper Sandler upped their target price on shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $31.36.
Read Our Latest Research Report on VIRT
Virtu Financial Stock Up 1.2 %
Shares of NASDAQ:VIRT traded up $0.45 during midday trading on Thursday, reaching $37.73. The company's stock had a trading volume of 586,263 shares, compared to its average volume of 1,136,005. Virtu Financial, Inc. has a 12-month low of $19.06 and a 12-month high of $41.38. The firm has a 50 day moving average of $37.11 and a 200-day moving average of $35.00. The firm has a market capitalization of $5.84 billion, a P/E ratio of 12.70, a PEG ratio of 1.43 and a beta of 0.58. The company has a quick ratio of 0.46, a current ratio of 1.13 and a debt-to-equity ratio of 1.17.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last announced its quarterly earnings data 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 net margin of 9.61% and a return on equity of 27.39%. On average, research analysts anticipate that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.
Virtu Financial Dividend Announcement
The company also recently disclosed 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 annualized dividend and a yield of 2.54%. The ex-dividend date was Friday, February 28th. Virtu Financial's dividend payout ratio (DPR) is 32.32%.
Virtu Financial Profile
(
Free Report)
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.
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