Beacon Harbor Wealth Advisors Inc. Makes New Investment in Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• Beacon Harbor Wealth Advisors Inc. acquired 170,479 shares of Virtu Financial, Inc., valued at approximately $6.5 million, representing a 0.11% ownership stake as of the latest SEC filing.
• Several institutional investors have increased their holdings in Virtu Financial, with notable increases from FMR LLC by 28.2% and Northern Trust Corp by 48.2% in the recent quarters.
• Virtu Financial announced a quarterly dividend of $0.24 per share, with a dividend yield of 2.3%, and has a current consensus rating of "Hold" with a target price of $39.75.

Beacon Harbor Wealth Advisors Inc. purchased a new stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 170,479 shares of the financial services provider's stock, valued at approximately $6,499,000. Beacon Harbor Wealth Advisors Inc. owned about 0.11% of Virtu Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in VIRT. LPL Financial LLC increased its stake in Virtu Financial by 24.6% during the fourth quarter. LPL Financial LLC now owns 73,342 shares of the financial services provider's stock worth $2,617,000 after acquiring an additional 14,490 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Virtu Financial by 17.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 12,585 shares of the financial services provider's stock worth $449,000 after acquiring an additional 1,854 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Virtu Financial during the fourth quarter worth $954,000. Wells Fargo & Company MN boosted its position in shares of Virtu Financial by 34.0% during the fourth quarter. Wells Fargo & Company MN now owns 518,374 shares of the financial services provider's stock worth $18,496,000 after buying an additional 131,591 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Virtu Financial during the fourth quarter worth $484,000. Institutional investors and hedge funds own 45.78% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on VIRT shares. UBS Group restated a "neutral" rating and set a $45.00 price target (up from $40.00) on shares of Virtu Financial in a research report on Monday. Bank of America lowered Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target for the company. in a research report on Thursday, May 15th. Piper Sandler boosted their target price on Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley boosted their target price on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.75.

Insider Transactions at Virtu Financial

In other Virtu Financial news, Director John Nixon sold 6,965 shares of Virtu Financial stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total transaction of $298,241.30. Following the completion of the sale, the director directly owned 33,923 shares of the company's stock, valued at $1,452,582.86. The trade was a 17.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brett Fairclough sold 90,701 shares of Virtu Financial stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $42.40, for a total value of $3,845,722.40. The disclosure for this sale can be found here. 47.20% of the stock is owned by insiders.

Virtu Financial Stock Down 0.0%

NASDAQ VIRT traded down $0.01 during trading on Friday, reaching $42.44. 794,500 shares of the company's stock were exchanged, compared to its average volume of 953,375. The stock has a market cap of $6.54 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.49. The company has a 50 day moving average price of $43.02 and a two-hundred day moving average price of $39.96. Virtu Financial, Inc. has a 1 year low of $28.14 and a 1 year high of $45.77.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. Virtu Financial's payout ratio is 21.82%.

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.