The Goldman Sachs Group Boosts Virtu Financial (NASDAQ:VIRT) Price Target to $29.00

Virtu Financial (NASDAQ:VIRT) had its price objective boosted by The Goldman Sachs Group from $26.00 to $29.00 in a report issued on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the company. UBS Group lifted their target price on Virtu Financial from $18.00 to $24.00 and gave the company a neutral rating in a report on Monday, July 1st. Bank of America lifted their target price on Virtu Financial from $25.00 to $37.00 and gave the company a buy rating in a report on Monday, July 22nd. Piper Sandler lifted their target price on Virtu Financial from $25.00 to $31.00 and gave the company an overweight rating in a report on Friday, July 19th. Citigroup lifted their target price on Virtu Financial from $26.00 to $32.00 and gave the company a buy rating in a report on Friday, July 19th. Finally, StockNews.com upgraded Virtu Financial from a sell rating to a hold rating in a report on Wednesday, June 19th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Virtu Financial presently has an average rating of Hold and a consensus target price of $27.79.

Virtu Financial Trading Up 1.6 %

VIRT opened at $31.18 on Monday. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $32.88. The business has a fifty day simple moving average of $30.01 and a 200-day simple moving average of $25.06. The firm has a market cap of $4.90 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.48 and a beta of 0.38. 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 (NASDAQ:VIRT) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.60 by $0.23. Virtu Financial had a return on equity of 22.74% and a net margin of 7.59%. The business had revenue of $385.10 million during the quarter, compared to analyst estimates of $331.92 million. During the same period last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 38.2% on a year-over-year basis. On average, equities analysts expect that Virtu Financial will post 2.47 earnings per share for the current year.

Virtu Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, August 30th. Virtu Financial’s dividend payout ratio (DPR) is 67.13%.

Insiders Place Their Bets

In other Virtu Financial news, Director Virginia Gambale sold 5,400 shares of Virtu Financial stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $27.30, for a total transaction of $147,420.00. Following the completion of the sale, the director now directly owns 24,122 shares of the company’s stock, valued at approximately $658,530.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 46.70% of the stock is owned by company insiders.

Institutional Trading of Virtu Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in VIRT. Riverview Trust Co acquired a new stake in shares of Virtu Financial during the first quarter worth about $26,000. Quarry LP increased its position in shares of Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 746 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Virtu Financial during the second quarter worth about $39,000. Abich Financial Wealth Management LLC increased its position in shares of Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Virtu Financial during the second quarter worth about $46,000. Institutional investors and hedge funds own 45.78% of the company’s stock.

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.