State of Alaska Department of Revenue Sells 852 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

State of Alaska Department of Revenue reduced its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,070 shares of the financial services provider’s stock after selling 852 shares during the quarter. State of Alaska Department of Revenue’s holdings in Virtu Financial were worth $2,392,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC increased its stake in Virtu Financial by 38.0% during the third quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock worth $151,511,000 after acquiring an additional 1,368,419 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Virtu Financial during the third quarter valued at approximately $29,815,000. Portolan Capital Management LLC purchased a new position in shares of Virtu Financial during the third quarter valued at approximately $11,918,000. JPMorgan Chase & Co. boosted its position in shares of Virtu Financial by 48.6% during the third quarter. JPMorgan Chase & Co. now owns 358,065 shares of the financial services provider’s stock valued at $10,907,000 after buying an additional 117,062 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Virtu Financial by 400.0% during the third 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 institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler boosted their target price on Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their target price on Virtu Financial from $31.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Virtu Financial currently has an average rating of “Hold” and an average target price of $31.36.

Virtu Financial Stock Down 1.4 %

Shares of NASDAQ VIRT opened at $38.34 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.46 and a current ratio of 1.13. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.61 and a beta of 0.46. The stock has a 50 day moving average price of $37.09 and a 200 day moving average price of $33.68. Virtu Financial, Inc. has a 52-week low of $16.41 and a 52-week high of $41.38.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a return on equity of 27.39% and a net margin of 9.61%. Sell-side analysts expect that Virtu Financial, Inc. will post 3.01 earnings per share for the current year.

Virtu Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.50%. Virtu Financial’s dividend payout ratio is currently 32.32%.

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.