Virtu Financial, Inc. (NASDAQ:VIRT) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,766 shares of the financial services provider’s stock after acquiring an additional 3,078 shares during the period. Truist Financial Corp’s holdings in Virtu Financial were worth $534,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in Virtu Financial during the fourth quarter valued at $247,000. Alaska Permanent Fund Corp increased its stake in Virtu Financial by 7.1% during the first quarter. Alaska Permanent Fund Corp now owns 135,766 shares of the financial services provider’s stock valued at $2,786,000 after purchasing an additional 9,035 shares during the last quarter. Congress Asset Management Co. MA increased its stake in Virtu Financial by 1.2% during the first quarter. Congress Asset Management Co. MA now owns 340,258 shares of the financial services provider’s stock valued at $6,982,000 after purchasing an additional 3,885 shares during the last quarter. Riverview Trust Co bought a new stake in Virtu Financial during the first quarter valued at $26,000. Finally, First Bank & Trust increased its stake in Virtu Financial by 3.9% during the first quarter. First Bank & Trust now owns 19,614 shares of the financial services provider’s stock valued at $402,000 after purchasing an additional 734 shares during the last quarter. 45.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America lowered their target price on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Citigroup boosted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Finally, UBS Group upped their price target on shares of Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.79.

Virtu Financial Stock Up 0.7 %

Virtu Financial stock opened at $33.42 on Thursday. The company has a 50-day simple moving average of $30.98 and a 200-day simple moving average of $25.96. The firm has a market capitalization of $5.25 billion, a P/E ratio of 23.37, a P/E/G ratio of 0.54 and a beta of 0.38. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.43 and a current ratio of 0.43. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $33.47.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. The firm had revenue of $385.10 million during the quarter, compared to analyst estimates of $331.92 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.74%. Virtu Financial’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 EPS. As a group, equities analysts expect that Virtu Financial, Inc. will post 2.57 earnings per share for the current year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a $0.24 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 2.87%. Virtu Financial’s dividend payout ratio is presently 67.13%.

Insider Activity at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the transaction, the director now owns 24,122 shares in the company, valued at $658,530.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 46.70% of the stock is currently owned by 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.