Congress Asset Management Co. Sells 2,253 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Congress Asset Management Co. decreased its stake in shares of Virtu Financial, Inc. (NASDAQ:VIRT) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 334,461 shares of the financial services provider’s stock after selling 2,253 shares during the period. Congress Asset Management Co.’s holdings in Virtu Financial were worth $10,188,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of VIRT. Principal Financial Group Inc. purchased a new position in Virtu Financial during the 2nd quarter worth $9,751,000. Bank of New York Mellon Corp lifted its position in shares of Virtu Financial by 39.2% during the second 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 purchasing an additional 342,327 shares in the last quarter. Interval Partners LP purchased a new position in Virtu Financial during the first quarter worth about $5,050,000. Susquehanna Fundamental Investments LLC bought a new stake in Virtu Financial in the 1st quarter worth about $4,349,000. Finally, Public Sector Pension Investment Board purchased a new stake in Virtu Financial in the 2nd quarter valued at about $4,371,000. Institutional investors own 45.78% of the company’s stock.

Insider Activity at Virtu Financial

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the sale, the director now owns 24,122 shares in the company, valued at $658,530.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 46.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

VIRT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Citigroup boosted their price objective 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 restated an “overweight” rating and issued a $35.00 price objective on shares of Virtu Financial in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on 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, Bank of America cut their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Virtu Financial presently has an average rating of “Hold” and an average price target of $29.50.

Virtu Financial Stock Down 0.8 %

Shares of NASDAQ VIRT opened at $30.96 on Friday. 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 stock has a market capitalization of $4.83 billion, a PE ratio of 15.56, a P/E/G ratio of 0.49 and a beta of 0.38. Virtu Financial, Inc. has a one year low of $16.02 and a one year high of $33.55. The business’s fifty day moving average price is $31.49 and its 200-day moving average price is $26.74.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 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 the consensus estimate of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The company’s revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts anticipate that Virtu Financial, Inc. will post 2.7 EPS for the current year.

Virtu Financial Announces Dividend

The firm also recently disclosed 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. This represents a $0.96 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Sunday, December 1st. 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.