New York State Teachers Retirement System Grows Position in Virtu Financial, Inc. (NASDAQ:VIRT)

New York State Teachers Retirement System boosted its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 25.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,219 shares of the financial services provider’s stock after purchasing an additional 6,893 shares during the period. New York State Teachers Retirement System’s holdings in Virtu Financial were worth $1,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC purchased a new position in shares of Virtu Financial during the first quarter valued at approximately $358,000. Janney Montgomery Scott LLC boosted its holdings in Virtu Financial by 28.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,199 shares of the financial services provider’s stock valued at $291,000 after acquiring an additional 3,162 shares during the period. SG Americas Securities LLC boosted its holdings in Virtu Financial by 591.6% during the 1st quarter. SG Americas Securities LLC now owns 50,199 shares of the financial services provider’s stock valued at $1,030,000 after acquiring an additional 42,941 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Virtu Financial in the 1st quarter valued at $4,349,000. Finally, Sei Investments Co. increased its stake in Virtu Financial by 14.1% in the first quarter. Sei Investments Co. now owns 124,932 shares of the financial services provider’s stock worth $2,564,000 after purchasing an additional 15,435 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Virtu Financial Price Performance

NASDAQ VIRT opened at $34.19 on Friday. The company has a market cap of $5.29 billion, a PE ratio of 17.18, a P/E/G ratio of 0.52 and a beta of 0.38. The firm’s 50 day moving average price is $31.76 and its 200-day moving average price is $27.31. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. Virtu Financial, Inc. has a 52-week low of $16.02 and a 52-week high of $34.30.

Virtu Financial (NASDAQ:VIRT) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The business 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 business’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Sell-side analysts forecast that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 2.81%. Virtu Financial’s dividend payout ratio (DPR) is presently 48.24%.

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.