XTX Topco Ltd Acquires 12,674 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Key Points

• XTX Topco Ltd increased its stake in Virtu Financial by 143.1% to 21,533 shares, valued at approximately $821,000 after purchasing an additional 12,674 shares in the first quarter.
• Virtu Financial's stock received mixed analyst ratings, with Bank of America downgrading the company's rating to "neutral" and setting a price objective of $43.00, while UBS Group raised their target to $45.00.
• The company announced a quarterly dividend of $0.24 per share, set to be paid on September 15th, with an annualized dividend yield of 2.2%.

XTX Topco Ltd grew its position in Virtu Financial, Inc. (NASDAQ:VIRT - Free Report) by 143.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,533 shares of the financial services provider's stock after buying an additional 12,674 shares during the period. XTX Topco Ltd's holdings in Virtu Financial were worth $821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VIRT. Penserra Capital Management LLC acquired a new position in Virtu Financial during the 1st quarter valued at about $54,000. Vontobel Holding Ltd. bought a new position in shares of Virtu Financial in the 1st quarter worth $231,000. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 10,324 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Virtu Financial by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 401,117 shares of the financial services provider's stock worth $15,291,000 after buying an additional 9,569 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Virtu Financial in the 4th quarter valued at approximately $954,000. Institutional investors own 45.78% of the company's stock.

Insider Transactions at Virtu Financial

In other news, Director John Nixon sold 6,965 shares of the business's 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 transaction, the director directly owned 33,923 shares in the company, valued at approximately $1,452,582.86. The trade was a 17.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 47.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

VIRT has been the subject of several recent research reports. Morgan Stanley upped their price objective on Virtu Financial from $31.00 to $35.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 15th. Evercore ISI raised their price target on shares of Virtu Financial from $41.00 to $42.00 and gave the stock an "in-line" rating in a research note on Thursday, April 24th. Bank of America downgraded Virtu Financial from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research report on Thursday, May 15th. JPMorgan Chase & Co. boosted their target price on Virtu Financial from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Piper Sandler raised their price target on Virtu Financial from $44.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $39.75.

Virtu Financial Stock Performance

Virtu Financial stock traded down $0.49 during midday trading on Wednesday, hitting $42.40. The company's stock had a trading volume of 763,979 shares, compared to its average volume of 955,078. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 12.26, a PEG 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. The company has a 50-day moving average price of $42.91 and a two-hundred day moving average price of $39.87. Virtu Financial, Inc. has a 1-year low of $27.50 and a 1-year high of $45.77.

Virtu Financial Announces Dividend

The company 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, August 29th. Virtu Financial's dividend payout ratio 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.