State Board of Administration of Florida Retirement System lifted its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT – Get Rating) by 9.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,203 shares of the financial services provider’s stock after purchasing an additional 5,705 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Virtu Financial were worth $1,503,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of VIRT. Kestra Advisory Services LLC acquired a new position in Virtu Financial during the first quarter worth about $404,000. New York State Teachers Retirement System acquired a new position in Virtu Financial during the first quarter worth about $287,000. DekaBank Deutsche Girozentrale acquired a new position in Virtu Financial during the first quarter worth about $130,000. Thrive Wealth Management LLC acquired a new position in Virtu Financial during the first quarter worth about $320,000. Finally, Atria Investments LLC acquired a new position in Virtu Financial during the first quarter worth about $1,293,000. 50.91% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on VIRT. StockNews.com began coverage on Virtu Financial in a report on Wednesday, October 12th. They set a “hold” rating on the stock. UBS Group dropped their price target on Virtu Financial from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 6th. Morgan Stanley lifted their price target on Virtu Financial from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Thursday, November 10th. Evercore ISI dropped their price target on Virtu Financial to $25.00 in a research note on Friday, July 22nd. Finally, Citigroup began coverage on Virtu Financial in a research note on Tuesday, October 11th. They issued a “buy” rating and a $26.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.50.
Virtu Financial Trading Down 3.1 %
Virtu Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.96 annualized dividend and a yield of 4.44%. Virtu Financial’s dividend payout ratio (DPR) is presently 31.79%.
Insider Buying and Selling at Virtu Financial
In other news, Director Joanne Minieri purchased 4,000 shares of Virtu Financial stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $22.63 per share, for a total transaction of $90,520.00. Following the acquisition, the director now directly owns 16,187 shares in the company, valued at $366,311.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 42.10% of the company’s stock.
About Virtu Financial
Virtu Financial, Inc, a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology.
- Get a free copy of the StockNews.com research report on Virtu Financial (VIRT)
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