Envestnet Asset Management Inc. Sells 40,855 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Envestnet Asset Management Inc. trimmed its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 9.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 397,573 shares of the financial services provider’s stock after selling 40,855 shares during the quarter. Envestnet Asset Management Inc. owned about 0.26% of Virtu Financial worth $15,155,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in shares of Virtu Financial during the 1st quarter valued at about $54,000. Concurrent Investment Advisors LLC bought a new position in Virtu Financial in the 1st quarter valued at $347,000. 44 Wealth Management LLC bought a new position in Virtu Financial in the 1st quarter valued at $1,686,000. 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 in the last quarter. Finally, Krane Funds Advisors LLC bought a new position in shares of Virtu Financial during the 1st quarter worth $213,000. 45.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $48.00 target price (up previously from $44.00) on shares of Virtu Financial in a research report on Tuesday. Bank of America lowered Virtu Financial from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, May 15th. Morgan Stanley upped their price target on Virtu Financial from $31.00 to $35.00 and gave the stock an “underweight” rating in a research note on Tuesday. Wall Street Zen cut Virtu Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, UBS Group reiterated a “neutral” rating and set a $40.00 target price (up previously from $38.00) on shares of Virtu Financial in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.13.

Virtu Financial Stock Down 1.6%

Shares of NASDAQ VIRT opened at $44.40 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The stock has a fifty day moving average price of $42.42 and a 200 day moving average price of $39.22. The company has a market cap of $6.85 billion, a P/E ratio of 12.83, a P/E/G ratio of 1.14 and a beta of 0.70. Virtu Financial, Inc. has a 12-month low of $26.50 and a 12-month high of $45.77.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $0.99 by $0.31. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The business had revenue of $497.14 million for the quarter, compared to analysts’ expectations of $444.23 million. During the same quarter last year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. Research analysts anticipate that Virtu Financial, Inc. will post 3.13 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.16%. Virtu Financial’s dividend payout ratio is presently 27.75%.

Insiders Place Their Bets

In other news, CEO Douglas A. Cifu sold 178,320 shares of the business’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $38.57, for a total transaction of $6,877,802.40. Following the transaction, the chief executive officer directly owned 408,867 shares in the company, valued at $15,770,000.19. The trade was a 30.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Nixon sold 6,965 shares of Virtu Financial stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $42.82, for a total transaction of $298,241.30. Following the completion of the sale, the director directly owned 33,923 shares of the company’s stock, valued at approximately $1,452,582.86. The trade was a 17.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 362,846 shares of company stock valued at $14,079,615. 47.20% of the stock is currently owned by corporate insiders.

Virtu Financial 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.