The Manufacturers Life Insurance Company Sells 1,948 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

The Manufacturers Life Insurance Company reduced its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,808 shares of the financial services provider’s stock after selling 1,948 shares during the period. The Manufacturers Life Insurance Company’s holdings in Virtu Financial were worth $542,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VIRT. Bank of Montreal Can raised its stake in shares of Virtu Financial by 734.9% during the 3rd quarter. Bank of Montreal Can now owns 93,743 shares of the financial services provider’s stock worth $2,902,000 after purchasing an additional 82,515 shares during the period. Private Trust Co. NA lifted its holdings in shares of Virtu Financial by 158.2% during the 3rd quarter. Private Trust Co. NA now owns 5,856 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 3,588 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Virtu Financial by 507.3% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 11,526 shares of the financial services provider’s stock valued at $351,000 after buying an additional 9,628 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Virtu Financial by 65.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 54,497 shares of the financial services provider’s stock worth $1,660,000 after acquiring an additional 21,577 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in Virtu Financial by 9.1% during the third quarter. Cerity Partners LLC now owns 14,434 shares of the financial services provider’s stock valued at $440,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Virtu Financial Trading Down 0.9 %

NASDAQ VIRT opened at $36.49 on Friday. The company has a fifty day moving average of $34.38 and a 200 day moving average of $29.73. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The company has a market capitalization of $5.64 billion, a PE ratio of 18.34, a P/E/G ratio of 0.49 and a beta of 0.43. Virtu Financial, Inc. has a 1 year low of $16.02 and a 1 year high of $38.45.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The company had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $379.18 million. During the same period in the previous year, the firm posted $0.40 EPS. Virtu Financial’s revenue was up 30.2% compared to the same quarter last year. Research analysts forecast that Virtu Financial, Inc. will post 2.71 earnings per share for the current year.

Virtu Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 2.63%. 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.