Virtu Financial, Inc. (NASDAQ:VIRT) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its holdings in Virtu Financial, Inc. (NASDAQ:VIRT) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 674,672 shares of the financial services provider’s stock after selling 9,844 shares during the quarter. Glenmede Trust Co. NA owned about 0.44% of Virtu Financial worth $20,551,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its stake in Virtu Financial by 38.0% during the 3rd quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock valued at $151,511,000 after acquiring an additional 1,368,419 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Virtu Financial during the third quarter worth approximately $29,815,000. Principal Financial Group Inc. acquired a new stake in shares of Virtu Financial during the second quarter worth $9,751,000. Bank of New York Mellon Corp grew its position in Virtu Financial by 39.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,215,833 shares of the financial services provider’s stock valued at $27,295,000 after buying an additional 342,327 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Virtu Financial by 400.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 328,546 shares of the financial services provider’s stock valued at $10,008,000 after buying an additional 262,835 shares during the period. 45.78% of the stock is owned by hedge funds and other institutional investors.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $37.34 on Thursday. The stock has a fifty day moving average price of $32.89 and a 200 day moving average price of $28.52. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. The stock has a market cap of $5.77 billion, a PE ratio of 18.76, a P/E/G ratio of 0.58 and a beta of 0.38. Virtu Financial, Inc. has a 1 year low of $16.02 and a 1 year high of $38.45.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The business had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $379.18 million. During the same quarter last year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. Sell-side analysts forecast that Virtu Financial, Inc. will post 2.71 earnings per share for the current fiscal year.

Virtu Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, November 29th. Virtu Financial’s dividend payout ratio (DPR) is presently 48.24%.

Analysts Set New Price Targets

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

About Virtu Financial

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.