Robeco Institutional Asset Management B.V. Buys 103,980 Shares of Virtu Financial, Inc. $VIRT

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Virtu Financial by 59.4%, acquiring an additional 103,980 shares, bringing their total ownership to 279,161 shares valued at approximately $12.5 million.
• Wall Street analysts have raised their target prices for Virtu Financial, with Piper Sandler increasing it from $44.00 to $48.00 and UBS Group raising it from $40.00 to $45.00, as the stock has seen varied ratings from analysts.
• Virtu Financial announced a quarterly dividend of $0.24 per share, marking a dividend yield of 2.9%, with a dividend payout ratio currently at 21.82%.

Robeco Institutional Asset Management B.V. grew its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 59.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 279,161 shares of the financial services provider's stock after acquiring an additional 103,980 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.18% of Virtu Financial worth $12,504,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of VIRT. Vanguard Group Inc. raised its holdings in Virtu Financial by 1.8% in the first quarter. Vanguard Group Inc. now owns 9,568,548 shares of the financial services provider's stock worth $364,753,000 after buying an additional 165,396 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Virtu Financial by 83.6% in the 1st quarter. Invesco Ltd. now owns 1,473,165 shares of the financial services provider's stock worth $56,157,000 after purchasing an additional 670,774 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Virtu Financial by 50.9% in the first quarter. AQR Capital Management LLC now owns 1,320,356 shares of the financial services provider's stock worth $49,764,000 after purchasing an additional 445,586 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in 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 raised its holdings in shares of Virtu Financial by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 930,110 shares of the financial services provider's stock valued at $35,856,000 after purchasing an additional 95,692 shares during the last quarter. Institutional investors own 45.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler boosted their target price 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. UBS Group reissued a "neutral" rating and issued a $45.00 target price (up from $40.00) on shares of Virtu Financial in a research report on Monday, August 4th. Finally, Morgan Stanley boosted their price target on Virtu Financial from $31.00 to $35.00 and gave the company an "underweight" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $41.29.

Virtu Financial Price Performance

NASDAQ:VIRT opened at $33.65 on Monday. The business's 50-day moving average is $39.63 and its 200 day moving average is $40.39. Virtu Financial, Inc. has a 12 month low of $29.82 and a 12 month high of $45.77. The company has a market capitalization of $5.14 billion, a P/E ratio of 9.73, a P/E/G ratio of 1.14 and a beta of 0.62. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. Virtu Financial's dividend payout ratio (DPR) is presently 21.82%.

Insider Buying and Selling

In other Virtu Financial news, COO Brett Fairclough sold 90,701 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $42.40, for a total transaction of $3,845,722.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 47.20% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.