Charles Schwab Investment Management Inc. Has $45.59 Million Stock Holdings in Virtu Financial, Inc. $VIRT

Key Points

• Charles Schwab Investment Management Inc. decreased its holdings in Virtu Financial by 6.0%, owning approximately 1,195,977 shares valued at $45.59 million after selling 75,707 shares in the first quarter.
• Virtu Financial's recent stock performance shows a price range with a 52-week low of $28.98 and a high of $45.77, and it has a market cap of $6.38 billion.
• The company recently announced a quarterly dividend of $0.24 per share, with an annualized yield of 2.3% and a payout ratio of 21.82%.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,195,977 shares of the financial services provider's stock after selling 75,707 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.78% of Virtu Financial worth $45,591,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of VIRT. Balyasny Asset Management L.P. bought a new position in Virtu Financial during the fourth quarter worth about $39,993,000. Northern Trust Corp increased its position in Virtu Financial by 48.2% during the fourth quarter. Northern Trust Corp now owns 1,448,866 shares of the financial services provider's stock worth $51,696,000 after acquiring an additional 471,526 shares during the period. Allianz Asset Management GmbH grew its stake in Virtu Financial by 69.5% during the first quarter. Allianz Asset Management GmbH now owns 1,063,011 shares of the financial services provider's stock worth $40,522,000 after buying an additional 435,958 shares in the last quarter. Marshall Wace LLP grew its stake in Virtu Financial by 1,358.7% during the fourth quarter. Marshall Wace LLP now owns 329,738 shares of the financial services provider's stock worth $11,765,000 after buying an additional 307,133 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Virtu Financial during the fourth quarter worth about $10,471,000. 45.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $42.40, for a total value of $3,845,722.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 47.20% of the company's stock.

Virtu Financial Price Performance

Shares of VIRT traded up $0.1250 during mid-day trading on Thursday, reaching $41.5350. The company had a trading volume of 550,592 shares, compared to its average volume of 946,297. The company's 50 day simple moving average is $43.16 and its 200 day simple moving average is $40.12. Virtu Financial, Inc. has a 1-year low of $29.59 and a 1-year high of $45.77. 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 market capitalization of $6.35 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.14 and a beta of 0.69.

Virtu Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VIRT shares. JPMorgan Chase & Co. increased their price objective on shares of Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. UBS Group reiterated a "neutral" rating and set a $45.00 price objective (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Evercore ISI increased their price objective on shares of Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Morgan Stanley increased their price objective 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. Finally, Piper Sandler increased their price objective 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. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $39.75.

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.