Nuveen LLC Invests $18.96 Million in Virtu Financial, Inc. $VIRT

Key Points

• Nuveen LLC acquired 497,266 shares of Virtu Financial, valued at approximately $18.96 million, during the first quarter, bringing its ownership stake to about 0.32%.
• Brokerage firms provided mixed ratings on Virtu Financial, with JPMorgan Chase raising its target price to $39.00 while Bank of America downgraded it to a neutral rating with a $43.00 target.
• Virtu Financial announced a quarterly dividend of $0.24, to be paid on September 15th, representing an annualized yield of 2.3%.

Nuveen LLC acquired a new position in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 497,266 shares of the financial services provider's stock, valued at approximately $18,956,000. Nuveen LLC owned approximately 0.32% of Virtu Financial at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of VIRT. Financial Management Professionals Inc. acquired a new stake in shares of Virtu Financial during the first quarter worth approximately $32,000. Penserra Capital Management LLC acquired a new stake in shares of Virtu Financial during the first quarter worth approximately $54,000. SBI Securities Co. Ltd. increased its holdings 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 buying an additional 345 shares in the last quarter. Wexford Capital LP bought a new stake in shares of Virtu Financial during the fourth quarter valued at approximately $203,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Virtu Financial during the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 45.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VIRT. Bank of America cut shares of Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research note on Thursday, May 15th. Morgan Stanley increased their price target on shares of Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. 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. Wall Street Zen cut 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 target 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. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Virtu Financial currently has an average rating of "Hold" and a consensus target price of $39.75.

Insider Transactions at Virtu Financial

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the firm's stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 47.20% of the company's stock.

Virtu Financial Trading Up 0.8%

VIRT stock traded up $0.3280 during midday trading on Monday, reaching $42.3780. The company's stock had a trading volume of 784,266 shares, compared to its average volume of 944,016. Virtu Financial, Inc. has a 52 week low of $29.74 and a 52 week high of $45.77. The stock has a market cap of $6.48 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.14 and a beta of 0.69. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. The business's 50-day simple moving average is $43.19 and its 200-day simple moving average is $40.15.

Virtu Financial Dividend Announcement

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

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.