Focus Partners Wealth Raises Stock Position in Virtu Financial, Inc. $VIRT

Key Points

• Focus Partners Wealth increased its stake in Virtu Financial by 1.2%, owning approximately 912,243 shares valued at $34.8 million as of its latest SEC filing.
• Virtu Financial's quarterly dividend of $0.24 per share will be paid on September 15th, offering a 2.5% yield to shareholders, with an ex-dividend date of August 29th.
• Current stock analysis shows varying rating adjustments from major firms, with a consensus target price of $39.75 and an average rating of “Hold” from analysts.

Focus Partners Wealth boosted its stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 912,243 shares of the financial services provider's stock after purchasing an additional 10,677 shares during the period. Focus Partners Wealth owned approximately 0.59% of Virtu Financial worth $34,775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Virtu Financial by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 9,568,548 shares of the financial services provider's stock valued at $364,753,000 after acquiring an additional 165,396 shares during the period. Invesco Ltd. grew its position in shares of Virtu Financial by 83.6% during the 1st quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider's stock valued at $56,157,000 after acquiring an additional 670,774 shares during the period. AQR Capital Management LLC grew its position in shares of Virtu Financial by 50.9% during 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 acquiring an additional 445,586 shares during the period. Allianz Asset Management GmbH grew its position in shares of Virtu Financial by 69.5% during 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 acquiring an additional 435,958 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Virtu Financial by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 930,110 shares of the financial services provider's stock valued at $35,856,000 after acquiring an additional 95,692 shares during the period. Institutional investors own 45.78% of the company's stock.

Analyst Ratings Changes

VIRT has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. UBS Group reaffirmed a "neutral" rating and issued a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Morgan Stanley upped their target price on shares of Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a report on Tuesday, July 15th. Finally, Piper Sandler upped their target price on shares of Virtu Financial from $44.00 to $48.00 and gave the stock an "overweight" rating in a report 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Virtu Financial has an average rating of "Hold" and an average target price of $39.75.

Insiders Place Their Bets

In related news, COO Brett Fairclough sold 90,701 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. 47.20% of the stock is owned by company insiders.

Virtu Financial Trading Down 2.6%

Virtu Financial stock traded down $0.93 during midday trading on Tuesday, reaching $35.30. The stock had a trading volume of 373,339 shares, compared to its average volume of 963,781. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. Virtu Financial, Inc. has a 52-week low of $29.82 and a 52-week high of $45.77. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. The company has a fifty day moving average of $42.12 and a 200 day moving average of $40.49.

Virtu Financial Dividend Announcement

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