US Bancorp DE Trims Holdings in Virtu Financial, Inc. (NASDAQ:VIRT)

US Bancorp DE lessened its holdings in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,686 shares of the financial services provider’s stock after selling 965 shares during the period. US Bancorp DE’s holdings in Virtu Financial were worth $539,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. USA Financial Formulas purchased a new position in Virtu Financial during the 3rd quarter valued at about $33,000. International Assets Investment Management LLC purchased a new position in shares of Virtu Financial during the 2nd quarter worth approximately $39,000. Innealta Capital LLC purchased a new position in shares of Virtu Financial during the 2nd quarter worth approximately $46,000. First Horizon Advisors Inc. grew its holdings in shares of Virtu Financial by 21.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 372 shares during the period. Finally, Abich Financial Wealth Management LLC grew its holdings in shares of Virtu Financial by 55.3% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 781 shares during the period. Hedge funds and other institutional investors own 45.78% of the company’s stock.

Analyst Ratings Changes

VIRT has been the topic of a number of research analyst reports. Bank of America reduced their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley boosted their price target on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler reissued an “overweight” rating and issued a $35.00 price target on shares of Virtu Financial in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.50.

Virtu Financial Stock Performance

VIRT stock opened at $35.87 on Tuesday. The stock has a market capitalization of $5.55 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 0.54 and a beta of 0.38. Virtu Financial, Inc. has a 12-month low of $16.02 and a 12-month high of $36.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The stock’s 50 day simple moving average is $31.86 and its 200 day simple moving average is $27.44.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The company’s revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. As a group, research analysts forecast that Virtu Financial, Inc. will post 2.7 earnings per share for the current fiscal year.

Virtu Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. Virtu Financial’s payout ratio is 48.24%.

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.