Focus Partners Wealth Grows Stake 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 lifted its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 about 0.59% of Virtu Financial worth $34,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group increased its stake in shares of Virtu Financial by 243.0% during the first quarter. Brooklyn Investment Group now owns 782 shares of the financial services provider's stock worth $30,000 after purchasing an additional 554 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Virtu Financial during the first quarter worth about $32,000. Jones Financial Companies Lllp increased its stake in shares of Virtu Financial by 1,624.1% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the financial services provider's stock worth $38,000 after purchasing an additional 942 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Virtu Financial during the first quarter worth about $54,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Virtu Financial by 26.0% during the first 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. Hedge funds and other institutional investors own 45.78% of the company's stock.

Virtu Financial Stock Up 1.3%

Shares of NASDAQ VIRT opened at $38.55 on Thursday. 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 stock has a market cap of $5.89 billion, a PE ratio of 11.14, a P/E/G ratio of 1.14 and a beta of 0.69. The company has a 50-day moving average of $42.60 and a 200 day moving average of $40.41. 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 29th. Virtu Financial's payout ratio is presently 21.82%.

Analyst Upgrades and Downgrades

VIRT has been the subject of a number of research reports. Morgan Stanley boosted their target price 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. UBS Group reissued a "neutral" rating and set a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Bank of America cut shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research note on Thursday, May 15th. Piper Sandler upped their price objective on shares of Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Two research 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. According to MarketBeat, Virtu Financial currently has an average rating of "Hold" and a consensus price target of $39.75.

Insiders Place Their Bets

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the business's 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 this hyperlink. 46.70% of the stock is owned by insiders.

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.

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