Teacher Retirement System of Texas lowered its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 53.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,039 shares of the financial services provider's stock after selling 50,554 shares during the quarter. Teacher Retirement System of Texas' holdings in Virtu Financial were worth $1,679,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Krane Funds Advisors LLC bought a new stake in Virtu Financial during the first quarter worth $213,000. Vontobel Holding Ltd. bought a new stake in Virtu Financial during the first quarter worth $231,000. Allspring Global Investments Holdings LLC grew its stake in Virtu Financial by 11.5% in the 1st 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 period. Mirae Asset Global Investments Co. Ltd. grew its stake in Virtu Financial by 3,319.6% in 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 period. Finally, Diversified Trust Co grew its stake in Virtu Financial by 32.5% in the 1st quarter. Diversified Trust Co now owns 14,125 shares of the financial services provider's stock valued at $538,000 after purchasing an additional 3,465 shares during the period. Institutional investors own 45.78% of the company's stock.
Virtu Financial Stock Performance
Shares of NASDAQ VIRT traded down $0.11 during trading on Friday, reaching $43.94. 535,151 shares of the stock traded hands, compared to its average volume of 1,055,458. Virtu Financial, Inc. has a 52-week low of $22.50 and a 52-week high of $45.12. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50-day moving average of $42.17 and a 200-day moving average of $38.93. The stock has a market capitalization of $6.78 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70.
Virtu Financial (NASDAQ:VIRT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.31. The business had revenue of $497.14 million for the quarter, compared to analysts' expectations of $444.23 million. Virtu Financial had a return on equity of 32.08% and a net margin of 10.43%. The firm's quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. Analysts forecast that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.
Virtu Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.18%. Virtu Financial's dividend payout ratio (DPR) is 27.75%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on VIRT shares. Bank of America downgraded 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. JPMorgan Chase & Co. upped their price objective on Virtu Financial from $37.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. UBS Group restated a "neutral" rating and issued a $40.00 price objective (up previously from $38.00) on shares of Virtu Financial in a research note on Thursday, April 24th. Evercore ISI upped their price objective 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. Finally, Wall Street Zen cut Virtu Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $37.25.
Get Our Latest Stock Report on VIRT
Insider Transactions at Virtu Financial
In related news, CEO Douglas A. Cifu sold 177,561 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $38.88, for a total transaction of $6,903,571.68. Following the sale, the chief executive officer owned 231,306 shares of the company's stock, valued at approximately $8,993,177.28. This represents a 43.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Nixon sold 6,965 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $42.82, for a total value of $298,241.30. Following the sale, the director directly owned 33,923 shares in the company, valued at $1,452,582.86. This trade represents a 17.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 362,846 shares of company stock worth $14,079,615 in the last three months. 47.20% of the stock is currently owned by insiders.
Virtu Financial Profile
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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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