LPL Financial LLC Has $4.02 Million Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• LPL Financial LLC has increased its holdings in Virtu Financial, Inc. by 43.7%, now owning 105,403 shares valued at approximately $4.02 million.
• Virtu Financial will pay a quarterly dividend of $0.24 per share on September 15, representing a dividend yield of 2.3% with a payout ratio of 21.82%.
• Analyst ratings for Virtu Financial reflect mixed sentiments, with one sell rating, six hold ratings, and two buy ratings, alongside an average price target of $39.75.

LPL Financial LLC increased its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 43.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,403 shares of the financial services provider's stock after acquiring an additional 32,061 shares during the period. LPL Financial LLC owned about 0.07% of Virtu Financial worth $4,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of Virtu Financial during the 1st quarter worth $54,000. Vontobel Holding Ltd. bought a new position in Virtu Financial in the first quarter valued at about $231,000. Mirae Asset Global Investments Co. Ltd. grew 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 acquiring an additional 10,324 shares during the last quarter. Principal Financial Group Inc. raised its stake in 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 worth $15,291,000 after acquiring an additional 9,569 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Virtu Financial by 92.3% in the first quarter. Victory Capital Management Inc. now owns 107,761 shares of the financial services provider's stock worth $4,108,000 after acquiring an additional 51,713 shares during the last quarter. 45.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction on 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 is available at this hyperlink. 46.70% of the stock is owned by corporate insiders.

Virtu Financial Price Performance

Virtu Financial stock opened at $41.84 on Friday. The stock's 50 day moving average is $43.12 and its 200 day moving average is $40.06. Virtu Financial, Inc. has a one year low of $28.77 and a one year high of $45.77. The firm has a market cap of $6.40 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.14 and a beta of 0.69. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49.

Virtu Financial Announces Dividend

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

Analyst Ratings Changes

VIRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Bank of America downgraded 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. UBS Group reissued a "neutral" rating and issued a $45.00 price objective (up previously from $40.00) on shares of Virtu Financial in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Piper Sandler increased 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. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Virtu Financial currently has an average rating of "Hold" and an average price target of $39.75.

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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