Allspring Global Investments Holdings LLC Boosts Holdings in Virtu Financial, Inc. $VIRT

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in Virtu Financial by 3.3%, owning 960,406 shares valued at approximately $41.66 million at the end of the 2nd quarter.
• Insider selling occurred when COO Brett Fairclough sold 90,701 shares at an average price of $42.40, totaling about $3.85 million on August 7th.
• Virtu Financial recently announced a quarterly dividend of $0.24 per share, which translates to a 2.9% dividend yield with a payout ratio of 21.82%.

Allspring Global Investments Holdings LLC increased its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 960,406 shares of the financial services provider's stock after buying an additional 30,296 shares during the period. Allspring Global Investments Holdings LLC owned about 0.62% of Virtu Financial worth $41,662,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Virtu Financial by 83.6% during the first quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider's stock worth $56,157,000 after buying an additional 670,774 shares during the period. Nuveen LLC acquired a new position in Virtu Financial during the 1st quarter worth approximately $18,956,000. AQR Capital Management LLC increased its position in shares of Virtu Financial by 50.9% in the 1st quarter. AQR Capital Management LLC now owns 1,320,356 shares of the financial services provider's stock valued at $49,764,000 after purchasing an additional 445,586 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Virtu Financial by 69.5% in the 1st quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider's stock valued at $40,522,000 after purchasing an additional 435,958 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Virtu Financial during the 1st quarter worth $9,918,000. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction that occurred 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 SEC, which is accessible through this hyperlink. Company insiders own 47.20% of the company's stock.

Virtu Financial Stock Performance

Shares of Virtu Financial stock opened at $33.62 on Thursday. The firm's fifty day simple moving average is $37.94 and its 200-day simple moving average is $40.06. Virtu Financial, Inc. has a 12 month low of $29.82 and a 12 month high of $45.77. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.14 and a beta of 0.62. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial (NASDAQ:VIRT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The company had revenue of $274.00 million for the quarter. As a group, equities analysts forecast that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 29th. Virtu Financial's dividend payout ratio (DPR) is 21.82%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley raised their price target on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group decreased their target price on Virtu Financial from $48.00 to $38.00 and set a "neutral" rating for the company in a research note on Monday, October 6th. UBS Group reissued a "neutral" rating and set a $45.00 price objective (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Finally, Piper Sandler upped their target price on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.43.

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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