Virtu Financial (NASDAQ:VIRT) Price Target Raised to $22.50

Virtu Financial (NASDAQ:VIRT) had its target price upped by Citigroup from $21.00 to $22.50 in a report issued on Tuesday, Benzinga reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the company. StockNews.com lowered Virtu Financial from a hold rating to a sell rating in a report on Friday, January 26th. UBS Group reduced their price objective on shares of Virtu Financial from $20.00 to $18.00 and set a neutral rating on the stock in a report on Friday, January 26th. Bank of America began coverage on shares of Virtu Financial in a report on Tuesday, November 28th. They issued a buy rating and a $20.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Virtu Financial from $20.00 to $19.00 and set an equal weight rating on the stock in a report on Monday, January 29th. Finally, Piper Sandler restated an overweight rating and issued a $21.00 price objective on shares of Virtu Financial in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $19.92.

Virtu Financial Price Performance

Virtu Financial stock opened at $20.52 on Tuesday. The company’s fifty day moving average price is $18.09 and its 200 day moving average price is $18.35. Virtu Financial has a 1 year low of $16.02 and a 1 year high of $21.03. The stock has a market capitalization of $3.24 billion, a P/E ratio of 14.66, a P/E/G ratio of 5.75 and a beta of 0.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.46 and a current ratio of 0.46.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.13). Virtu Financial had a return on equity of 16.94% and a net margin of 6.22%. The business had revenue of $535.98 million for the quarter, compared to analyst estimates of $272.96 million. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts anticipate that Virtu Financial will post 1.79 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.68%. The ex-dividend date was Thursday, February 29th. Virtu Financial’s dividend payout ratio is currently 68.57%.

Insider Buying and Selling at Virtu Financial

In related news, CEO Douglas A. Cifu acquired 50,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was acquired at an average cost of $16.21 per share, with a total value of $810,500.00. Following the completion of the transaction, the chief executive officer now owns 584,132 shares in the company, valued at approximately $9,468,779.72. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 44.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Virtu Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale grew its position in shares of Virtu Financial by 131.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 84,802 shares of the financial services provider’s stock worth $1,449,000 after buying an additional 48,127 shares in the last quarter. 1834 Investment Advisors Co. grew its position in shares of Virtu Financial by 913.6% during the fourth quarter. 1834 Investment Advisors Co. now owns 306,289 shares of the financial services provider’s stock worth $6,205,000 after buying an additional 276,071 shares in the last quarter. Earnest Partners LLC acquired a new position in Virtu Financial in the third quarter valued at approximately $1,149,000. Hsbc Holdings PLC boosted its holdings in Virtu Financial by 27.7% in the third quarter. Hsbc Holdings PLC now owns 280,338 shares of the financial services provider’s stock valued at $4,834,000 after purchasing an additional 60,776 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Virtu Financial by 39.4% in the third quarter. Barclays PLC now owns 278,456 shares of the financial services provider’s stock valued at $4,811,000 after purchasing an additional 78,665 shares in the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

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.