Allianz Asset Management GmbH Buys 139,836 Shares of Virtu Financial, Inc. $VIRT

Key Points

• Allianz Asset Management GmbH increased its stake in Virtu Financial, Inc. by 13.2%, acquiring an additional 139,836 shares in the second quarter, bringing their total holdings to over 1.2 million shares valued at approximately $53.9 million.
• Research analysts have mixed views on Virtu Financial, with target prices ranging from $31.00 to $48.00 and an average rating of "Hold".
• Virtu Financial declared a quarterly dividend of $0.24 per share, yielding 2.9%, with a payout ratio of 21.82% as of the latest announcement.

Allianz Asset Management GmbH boosted its stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 13.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,202,847 shares of the financial services provider's stock after acquiring an additional 139,836 shares during the period. Allianz Asset Management GmbH owned 0.78% of Virtu Financial worth $53,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC bought a new position in shares of Virtu Financial during the 1st quarter worth approximately $54,000. Vontobel Holding Ltd. bought a new position in shares of Virtu Financial during the 1st quarter worth approximately $231,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Virtu Financial by 3,319.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,635 shares of the financial services provider's stock worth $405,000 after buying an additional 10,324 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Virtu Financial by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 401,117 shares of the financial services provider's stock worth $15,291,000 after buying an additional 9,569 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Virtu Financial during the 2nd quarter worth approximately $417,000. 45.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target on Virtu Financial from $48.00 to $38.00 and set a "neutral" rating on the stock in a report on Monday, October 6th. Morgan Stanley upped their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. Piper Sandler upped their target price on Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, UBS Group reaffirmed a "neutral" rating and set a $45.00 target price (up from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $41.43.

Insider Buying and Selling

In related news, COO Brett Fairclough sold 90,701 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $42.40, for a total value of $3,845,722.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 47.20% of the company's stock.

Virtu Financial Trading Up 0.5%

NASDAQ VIRT opened at $33.25 on Friday. The firm has a market capitalization of $5.08 billion, a P/E ratio of 9.61, a PEG ratio of 1.14 and a beta of 0.62. The business has a fifty day simple moving average of $37.57 and a 200 day simple moving average of $39.99. Virtu Financial, Inc. has a 12 month low of $29.82 and a 12 month high of $45.77. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The financial services provider reported $0.37 EPS for the quarter. The business had revenue of $274.00 million during the quarter. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. On average, analysts predict that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 29th. Virtu Financial's dividend payout ratio is presently 21.82%.

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.

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