Abich Financial Wealth Management LLC Sells 1,732 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

Abich Financial Wealth Management LLC lessened its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 64.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 948 shares of the financial services provider’s stock after selling 1,732 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Virtu Financial were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new stake in shares of Virtu Financial in the 2nd quarter worth about $9,751,000. Bank of New York Mellon Corp increased its stake in 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 worth $27,295,000 after acquiring an additional 342,327 shares during the last quarter. Interval Partners LP purchased a new stake in Virtu Financial during the first quarter valued at approximately $5,050,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Virtu Financial in the 1st quarter valued at approximately $4,349,000. Finally, Public Sector Pension Investment Board bought a new stake in shares of Virtu Financial in the 2nd quarter valued at approximately $4,371,000. Institutional investors own 45.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VIRT shares. Piper Sandler restated an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a report on Thursday, October 24th. UBS Group increased their price target on Virtu Financial from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. Bank of America decreased their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Citigroup increased their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 46.70% of the company’s stock.

Virtu Financial Stock Down 0.3 %

VIRT stock traded down $0.10 on Tuesday, hitting $30.85. 74,286 shares of the company’s stock were exchanged, compared to its average volume of 1,274,460. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 1.14. The stock has a market cap of $4.85 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 0.46 and a beta of 0.38. The firm has a 50 day moving average price of $31.43 and a two-hundred day moving average price of $26.63. Virtu Financial, Inc. has a 12-month low of $16.02 and a 12-month high of $33.55.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The business had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, equities research analysts expect that Virtu Financial, Inc. will post 2.66 EPS for the current fiscal year.

Virtu Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.24 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 annualized dividend and a yield of 3.11%. Virtu Financial’s dividend payout ratio is presently 67.13%.

Virtu Financial 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.