New York State Common Retirement Fund trimmed its position in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 2.7% in the third quarter, HoldingsChannel.com reports. The fund owned 120,697 shares of the financial services provider’s stock after selling 3,308 shares during the period. New York State Common Retirement Fund’s holdings in Virtu Financial were worth $2,949,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in VIRT. Truvestments Capital LLC purchased a new position in Virtu Financial during the 2nd quarter valued at about $43,000. Steward Partners Investment Advisory LLC purchased a new position in Virtu Financial during the 2nd quarter valued at about $44,000. Metropolitan Life Insurance Co NY boosted its stake in shares of Virtu Financial by 48,150.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 1,930 shares of the financial services provider’s stock valued at $53,000 after buying an additional 1,926 shares during the period. Advisory Services Network LLC purchased a new position in shares of Virtu Financial in the 2nd quarter valued at about $59,000. Finally, Fifth Third Bancorp boosted its stake in shares of Virtu Financial by 81.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,933 shares of the financial services provider’s stock valued at $81,000 after buying an additional 1,318 shares during the period. Institutional investors own 68.04% of the company’s stock.
Several equities analysts have recently issued reports on VIRT shares. Rosenblatt Securities lifted their price objective on Virtu Financial from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. Zacks Investment Research upgraded Virtu Financial from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 5th. Finally, Citigroup lifted their price objective on Virtu Financial from $25.50 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, November 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.60.
VIRT stock opened at $29.60 on Friday. The business has a 50 day moving average price of $28.15 and a 200 day moving average price of $26.51. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 7.67 and a beta of -0.37. Virtu Financial, Inc. has a fifty-two week low of $23.19 and a fifty-two week high of $32.35. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.89.
Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Wednesday, November 3rd. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The firm had revenue of $354.44 million during the quarter, compared to analysts’ expectations of $321.71 million. Virtu Financial had a return on equity of 38.59% and a net margin of 17.43%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. As a group, sell-side analysts anticipate that Virtu Financial, Inc. will post 3.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.24%. The ex-dividend date was Tuesday, November 30th. Virtu Financial’s dividend payout ratio (DPR) is 24.87%.
In other Virtu Financial news, major shareholder Private Ltd Gic sold 1,403,509 shares of Virtu Financial stock in a transaction that occurred on Monday, November 29th. The stock was sold at an average price of $28.50, for a total transaction of $40,000,006.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joanne Minieri purchased 1,750 shares of the business’s stock in a transaction on Monday, November 8th. The shares were purchased at an average cost of $28.00 per share, for a total transaction of $49,000.00. The disclosure for this purchase can be found here. Insiders own 49.50% of the company’s stock.
Virtu Financial Profile
Virtu Financial, Inc engages in the provision of market making and liquidity services. It operates through the following segments: Market Making, Execution Services and Corporate. The Market Making segment engages in buying and selling of securities and other financial instruments. The Execution Services segment agency offers trading venues that provide transparent trading in global equities, ETFs, and fixed income to institutions, banks and broker dealers.
Further Reading: How to Use the MarketBeat Retirement Calculator
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