Congress Asset Management Co. Sells 10,638 Shares of Virtu Financial, Inc. $VIRT

Key Points

• Congress Asset Management Co. reduced its stake in Virtu Financial by 3.1% in the second quarter, now owning 332,341 shares worth $14.89 million after selling 10,638 shares.
• Virtu Financial recently announced a quarterly dividend of $0.24, providing shareholders with an annualized yield of 2.7%.
• Multiple analysts have adjusted their target prices for Virtu Financial, with UBS raising it to $45.00 and Piper Sandler to $48.00, indicating mixed market sentiment with an average rating of "Hold."

Congress Asset Management Co. lowered its stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 332,341 shares of the financial services provider's stock after selling 10,638 shares during the quarter. Congress Asset Management Co. owned 0.22% of Virtu Financial worth $14,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in Virtu Financial in the first quarter valued at approximately $54,000. Vontobel Holding Ltd. bought a new stake in Virtu Financial in the first quarter valued at approximately $231,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Virtu Financial by 3,319.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,635 shares of the financial services provider's stock valued at $405,000 after purchasing an additional 10,324 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Virtu Financial by 2.4% during the first quarter. Principal Financial Group Inc. now owns 401,117 shares of the financial services provider's stock valued at $15,291,000 after buying an additional 9,569 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Virtu Financial during the second quarter valued at approximately $417,000. Institutional investors own 45.78% of the company's stock.

Virtu Financial Price Performance

VIRT opened at $35.17 on Friday. The stock has a fifty day simple moving average of $40.51 and a two-hundred day simple moving average of $40.38. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a 12-month low of $29.82 and a 12-month high of $45.77.

Virtu Financial Dividend Announcement

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

Analyst Ratings Changes

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

Insider Transactions at Virtu Financial

In other Virtu Financial 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 47.20% of the company's stock.

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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