Invesco Ltd. lifted its stake in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 83.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,473,165 shares of the financial services provider's stock after purchasing an additional 670,774 shares during the quarter. Invesco Ltd. owned about 0.96% of Virtu Financial worth $56,157,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in shares of Virtu Financial in the 1st quarter worth approximately $54,000. Vontobel Holding Ltd. purchased a new stake in Virtu Financial during the 1st quarter valued at $231,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Virtu Financial by 3,319.6% during the 1st 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. boosted its stake in Virtu Financial by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 401,117 shares of the financial services provider's stock valued at $15,291,000 after purchasing an additional 9,569 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Virtu Financial by 92.3% during the 1st quarter. Victory Capital Management Inc. now owns 107,761 shares of the financial services provider's stock valued at $4,108,000 after purchasing an additional 51,713 shares during the last quarter. 45.78% of the stock is owned by institutional investors.
Insider Activity
In other news, COO Brett Fairclough sold 90,701 shares of the firm's 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 SEC, which can be accessed through the SEC website. 47.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Morgan Stanley increased 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. Evercore ISI increased their target price on Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. UBS Group reiterated 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. Piper Sandler increased 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. Finally, Bank of America downgraded Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 target price on the stock. in a research note on Thursday, May 15th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $39.75.
Check Out Our Latest Report on VIRT
Virtu Financial Stock Performance
Shares of VIRT stock traded up $0.64 on Friday, reaching $42.22. The stock had a trading volume of 134,385 shares, compared to its average volume of 941,061. The stock has a market cap of $6.45 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. Virtu Financial, Inc. has a 1 year low of $29.71 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 50 day simple moving average of $43.16 and a 200 day simple moving average of $40.12.
Virtu Financial Announces Dividend
The company 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 21.82%.
About Virtu Financial
(
Free Report)
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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