Virtu Financial (NASDAQ:VIRT) Reaches New 1-Year High Following Dividend Announcement

Virtu Financial, Inc. (NASDAQ:VIRT)’s stock price hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $22.80 and last traded at $22.30, with a volume of 433800 shares changing hands. The stock had previously closed at $21.19.

The newly announced dividend which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, May 31st. Virtu Financial’s dividend payout ratio (DPR) is 68.57%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VIRT. Citigroup raised their price objective on shares of Virtu Financial from $22.50 to $24.50 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on shares of Virtu Financial from $20.00 to $21.50 and gave the company a “neutral” rating in a report on Thursday. Morgan Stanley increased their target price on shares of Virtu Financial from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Piper Sandler increased their target price on shares of Virtu Financial from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.33.

Virtu Financial Price Performance

The business’s 50-day moving average price is $19.45 and its 200 day moving average price is $18.82. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $3.54 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 0.58 and a beta of 0.40.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.13). Virtu Financial had a net margin of 6.22% and a return on equity of 16.94%. The firm had revenue of $535.98 million during the quarter, compared to the consensus estimate of $272.96 million. During the same quarter last year, the business posted $0.32 earnings per share. Analysts anticipate that Virtu Financial, Inc. will post 1.8 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas A. Cifu acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was bought at an average cost of $16.21 per share, for a total transaction of $810,500.00. Following the completion of the transaction, the chief executive officer now owns 584,132 shares of the company’s stock, valued at $9,468,779.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 44.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Virtu Financial

A number of large investors have recently modified their holdings of VIRT. Riverview Trust Co bought a new stake in Virtu Financial during the first quarter valued at approximately $26,000. Quarry LP lifted its position in Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares during the last quarter. CWM LLC lifted its position in Virtu Financial by 112.3% during the fourth quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,127 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Virtu Financial by 48.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,574 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,161 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Virtu Financial by 1,867.8% during the fourth quarter. International Assets Investment Management LLC now owns 4,093 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 3,885 shares during the last quarter. 45.78% of the stock is currently owned by institutional investors.

Virtu Financial Company 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.