Envestnet Asset Management Inc. Purchases 33,340 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Envestnet Asset Management Inc. lifted its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,428 shares of the financial services provider's stock after buying an additional 33,340 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of Virtu Financial worth $15,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Virtu Financial by 180.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 948,590 shares of the financial services provider's stock worth $33,846,000 after acquiring an additional 609,821 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Virtu Financial during the 4th quarter worth approximately $12,196,000. Norges Bank acquired a new stake in shares of Virtu Financial during the 4th quarter worth approximately $12,018,000. Allspring Global Investments Holdings LLC lifted its position in shares of Virtu Financial by 28.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 834,418 shares of the financial services provider's stock valued at $30,027,000 after acquiring an additional 183,823 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in Virtu Financial by 538.4% during the fourth quarter. Edgestream Partners L.P. now owns 193,812 shares of the financial services provider's stock worth $6,915,000 after acquiring an additional 163,454 shares in the last quarter. Institutional investors and hedge funds own 45.78% of the company's stock.

Virtu Financial Stock Performance

Shares of NASDAQ VIRT traded up $0.66 during mid-day trading on Friday, reaching $38.46. 1,170,164 shares of the company's stock were exchanged, compared to its average volume of 1,193,437. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.43 and a beta of 0.71. The firm has a 50-day moving average price of $36.69 and a two-hundred day moving average price of $36.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.13 and a quick ratio of 0.46. Virtu Financial, Inc. has a 52 week low of $20.92 and a 52 week high of $41.38.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share 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%. Analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current year.

Virtu Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, February 28th. Virtu Financial's dividend payout ratio is currently 32.32%.

Insider Buying and Selling at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 72,967 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $36.84, for a total transaction of $2,688,104.28. Following the sale, the chief operating officer now directly owns 90,749 shares of the company's stock, valued at $3,343,193.16. This represents a 44.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen Cavoli sold 34,000 shares of Virtu Financial stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $37.41, for a total transaction of $1,271,940.00. Following the completion of the transaction, the executive vice president now owns 157,703 shares of the company's stock, valued at $5,899,669.23. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,967 shares of company stock worth $5,213,964 over the last ninety days. 46.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of Virtu Financial from $56.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley cut Virtu Financial from an "equal weight" rating to an "underweight" rating and set a $26.00 target price on the stock. in a report on Tuesday, April 8th. Finally, Piper Sandler upped their price objective on shares of Virtu Financial from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $32.21.

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.