Victory Capital Management Inc. Grows Stock Position in Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• Victory Capital Management Inc. increased its stake in Virtu Financial by 92.3% in Q1, owning 107,761 shares valued at approximately $4.1 million.
• Virtu Financial announced a quarterly dividend of $0.24 per share, representing an annualized payout of $0.96 and a yield of 2.17%.
• Several analysts have revised their price targets for Virtu Financial, with the average target now at $39.13 amid mixed ratings ranging from "sell" to "buy."

Victory Capital Management Inc. boosted its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 92.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,761 shares of the financial services provider's stock after purchasing an additional 51,713 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Virtu Financial worth $4,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in Virtu Financial by 28.2% during the fourth quarter. FMR LLC now owns 6,375,783 shares of the financial services provider's stock worth $227,488,000 after acquiring an additional 1,401,688 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Virtu Financial during the fourth quarter worth approximately $39,993,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Virtu Financial by 180.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 948,590 shares of the financial services provider's stock valued at $33,846,000 after acquiring an additional 609,821 shares during the last quarter. Northern Trust Corp increased its stake in shares of Virtu Financial by 48.2% during the 4th quarter. Northern Trust Corp now owns 1,448,866 shares of the financial services provider's stock valued at $51,696,000 after acquiring an additional 471,526 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Virtu Financial during the 4th quarter valued at about $12,018,000. Institutional investors and hedge funds own 45.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on VIRT shares. Wall Street Zen downgraded shares of Virtu Financial from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Evercore ISI upped their price objective on shares of Virtu Financial from $41.00 to $42.00 and gave the company an "in-line" rating in a research note on Thursday, April 24th. Morgan Stanley upped their price objective 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. Piper Sandler upped 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. Finally, UBS Group reaffirmed a "neutral" rating and set a $40.00 price objective (up previously from $38.00) on shares of Virtu Financial in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Virtu Financial has an average rating of "Hold" and an average price target of $39.13.

Insider Transactions at Virtu Financial

In other Virtu Financial news, Director John Nixon sold 6,965 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $42.82, for a total value of $298,241.30. Following the completion of the sale, the director owned 33,923 shares of the company's stock, valued at $1,452,582.86. This trade represents a 17.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 47.20% of the stock is owned by company insiders.

Virtu Financial Stock Up 0.9%

Shares of NASDAQ:VIRT opened at $44.17 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.11. Virtu Financial, Inc. has a 52-week low of $26.50 and a 52-week high of $45.77. The company has a 50 day moving average of $42.58 and a two-hundred day moving average of $39.51. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70.

Virtu Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, May 30th. Virtu Financial's dividend payout ratio (DPR) is 27.75%.

Virtu Financial 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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