1834 Investment Advisors Co. Reduces Holdings in Virtu Financial, Inc. $VIRT

Key Points

• 1834 Investment Advisors Co. reduced its holdings in Virtu Financial, Inc. by 7.9%, now owning 211,319 shares, which amounts to approximately $9.47 million in value.
• Virtu Financial recently paid a quarterly dividend of $0.24 per share, representing an annualized dividend yield of 2.7%.
• Analysts have set new price targets for Virtu Financial, with Piper Sandler raising its target to $48.00 and UBS Group adjusting its target to $45.00.

1834 Investment Advisors Co. trimmed its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,319 shares of the financial services provider's stock after selling 18,031 shares during the period. Virtu Financial comprises approximately 1.2% of 1834 Investment Advisors Co.'s holdings, making the stock its 19th biggest holding. 1834 Investment Advisors Co. owned 0.14% of Virtu Financial worth $9,465,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Voya Investment Management LLC increased its stake in shares of Virtu Financial by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 10,002 shares of the financial services provider's stock worth $381,000 after purchasing an additional 270 shares in the last quarter. Foundry Partners LLC grew its stake in Virtu Financial by 1.5% in the 1st quarter. Foundry Partners LLC now owns 18,031 shares of the financial services provider's stock worth $687,000 after acquiring an additional 275 shares during the period. Wedge Capital Management L L P NC grew its stake in Virtu Financial by 0.8% in the 1st quarter. Wedge Capital Management L L P NC now owns 33,397 shares of the financial services provider's stock worth $1,273,000 after acquiring an additional 281 shares during the period. SBI Securities Co. Ltd. grew its stake in Virtu Financial by 26.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock worth $64,000 after acquiring an additional 345 shares during the period. Finally, Optimist Retirement Group LLC grew its stake in Virtu Financial by 4.6% in the 1st quarter. Optimist Retirement Group LLC now owns 8,146 shares of the financial services provider's stock worth $311,000 after acquiring an additional 355 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Stock Up 0.3%

Shares of NASDAQ VIRT opened at $35.17 on Friday. Virtu Financial, Inc. has a 52-week low of $29.82 and a 52-week high of $45.77. The firm has a fifty day moving average of $40.51 and a 200-day moving average of $40.38. The stock has a market capitalization of $5.38 billion, a PE ratio of 10.16, a P/E/G ratio of 1.14 and a beta of 0.69. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11.

Virtu Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Virtu Financial's payout ratio is currently 21.82%.

Analysts Set New Price Targets

Several analysts have commented on VIRT shares. Piper Sandler lifted their target price on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. UBS Group reaffirmed a "neutral" rating and issued a $45.00 target price (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Finally, Morgan Stanley lifted their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Virtu Financial currently has a consensus rating of "Hold" and an average price target of $39.75.

Insider Activity

In other news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $42.40, for a total transaction of $3,845,722.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 47.20% of the stock is owned by corporate insiders.

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.

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