Deutsche Bank AG Lowers Stake in Virtu Financial, Inc. $VIRT

Key Points

• Deutsche Bank AG significantly reduced its stake in Virtu Financial, selling 103,407 shares and holding only 6,831 shares, resulting in a 93.8% decrease in its holdings.
• Virtu Financial announced a quarterly dividend of $0.24 per share, with a dividend yield of 2.3%, scheduled for distribution on September 15th to stockholders of record as of September 1st.
• Several institutional investors have altered their positions in Virtu Financial, contributing to a total institutional ownership of 45.78% in the company, reflecting ongoing interest in the stock despite Deutsche Bank's divestment.

Deutsche Bank AG decreased its holdings in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 93.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,831 shares of the financial services provider's stock after selling 103,407 shares during the quarter. Deutsche Bank AG's holdings in Virtu Financial were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in shares of Virtu Financial during the first quarter worth $32,000. Penserra Capital Management LLC acquired a new position in Virtu Financial during the first quarter worth $54,000. SBI Securities Co. Ltd. increased its holdings in Virtu Financial by 26.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,670 shares of the financial services provider's stock worth $64,000 after purchasing an additional 345 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Virtu Financial during the first quarter worth $213,000. Finally, Wexford Capital LP bought a new position in shares of Virtu Financial during the fourth quarter valued at about $203,000. Institutional investors and hedge funds own 45.78% of the company's stock.

Virtu Financial Trading Down 0.2%

NASDAQ VIRT traded down $0.09 during trading on Wednesday, hitting $41.26. The company had a trading volume of 172,280 shares, compared to its average volume of 938,277. The company's fifty day moving average is $43.16 and its 200-day moving average is $40.34. Virtu Financial, Inc. has a one year low of $29.82 and a one year 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. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69.

Virtu Financial Announces Dividend

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

Analyst Ratings Changes

VIRT has been the topic of a number of recent analyst reports. Morgan Stanley lifted 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. Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Bank of America cut Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 target price 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 report on Tuesday, July 15th. Finally, UBS Group reissued a "neutral" rating and set a $45.00 price target (up from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.75.

Insider Buying and Selling at Virtu Financial

In other news, COO Brett Fairclough sold 90,701 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.