Virtu Financial, Inc. Declares Quarterly Dividend of $0.24 (NYSE:VIRT)

Key Points

• Virtu Financial declared a quarterly dividend of $0.24 per share payable June 15 to holders of record on June 1 (ex‑dividend June 1), implying a $0.96 annual dividend, a ~1.9% yield and a payout ratio of 23.8%.
• The company beat expectations with $2.24 EPS vs. $1.35 expected and revenue of $786.53M vs. $556.38M estimated, with revenue up 30.7% year‑over‑year, a 12.9% net margin and 48.35% ROE.
• Shares traded at $50.84 (market cap ≈ $7.86B, P/E ≈ 9.9); analysts give a consensus rating of Moderate Buy with an average price target of $46 and mixed individual ratings.

Virtu Financial, Inc. (NYSE:VIRT - Get Free Report) announced a quarterly dividend on Wednesday, April 29th. Investors of record on Monday, June 1st will be paid a dividend of 0.24 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, June 1st.

Virtu Financial has a dividend payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Virtu Financial to earn $4.41 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 21.8%.

Virtu Financial Price Performance

VIRT traded up $1.93 on Wednesday, reaching $50.84. The company had a trading volume of 2,044,773 shares, compared to its average volume of 1,237,747. The business has a 50 day simple moving average of $44.15 and a 200 day simple moving average of $38.37. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 3.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.47 and a current ratio of 0.47. Virtu Financial has a 52-week low of $31.55 and a 52-week high of $52.21.

Virtu Financial (NYSE:VIRT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.89. The business had revenue of $786.53 million for the quarter, compared to the consensus estimate of $556.38 million. Virtu Financial had a net margin of 12.90% and a return on equity of 48.35%. Virtu Financial's quarterly revenue was up 30.7% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. As a group, sell-side analysts anticipate that Virtu Financial will post 4.73 EPS for the current year.

Analysts Set New Price Targets

VIRT has been the topic of several research reports. Morgan Stanley lifted their price target on shares of Virtu Financial from $36.00 to $39.00 and gave the stock an "underweight" rating in a research note on Friday, April 10th. Zacks Research raised shares of Virtu Financial from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 8th. Wall Street Zen raised shares of Virtu Financial from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. Piper Sandler lifted their price target on shares of Virtu Financial from $57.00 to $61.00 and gave the stock an "overweight" rating in a research note on Friday, March 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Virtu Financial from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.00.

Virtu Financial Company Profile

Virtu Financial, Inc is a technology-driven electronic trading firm and market maker that provides liquidity and price discovery across a wide range of financial instruments. Leveraging advanced analytics, high-performance computing and proprietary algorithms, Virtu operates in equities, fixed income, foreign exchange, commodities and derivative products. Its technology platform is designed to capture bid-ask spreads in real time, manage risk through automated controls and adapt to changing market conditions.

The company offers a suite of execution services and market-making solutions to institutional clients such as asset managers, banks, broker-dealers and hedge funds.

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