Virtu Financial, Inc. (NASDAQ:VIRT) Announces Quarterly Dividend of $0.24

Virtu Financial, Inc. (NASDAQ:VIRT) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Sunday, December 1st will be given a dividend of 0.24 per share by the financial services provider on Sunday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, November 29th.

Virtu Financial has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Virtu Financial to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 37.1%.

Virtu Financial Trading Down 4.6 %

VIRT opened at $30.86 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.22. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $33.55. The stock has a market cap of $4.85 billion, a PE ratio of 21.58, a PEG ratio of 0.49 and a beta of 0.38. The business has a 50 day moving average of $31.38 and a 200-day moving average of $26.41.

Analyst Ratings Changes

VIRT has been the subject of several recent research reports. Morgan Stanley raised their price objective on 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 lifted their price target on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective 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. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 target price on shares of Virtu Financial in a research note on Thursday. Finally, Bank of America dropped their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.50.

Insider Transactions at Virtu Financial

In related news, Director Virginia Gambale sold 5,400 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $27.30, for a total value of $147,420.00. Following the completion of the transaction, the director now directly owns 24,122 shares in the company, valued at $658,530.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 46.70% of the company’s stock.

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.