1834 Investment Advisors Co. Sells 27,585 Shares of Virtu Financial, Inc. (NASDAQ:VIRT)

1834 Investment Advisors Co. reduced its position in Virtu Financial, Inc. (NASDAQ:VIRT) by 7.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 324,913 shares of the financial services provider’s stock after selling 27,585 shares during the period. Virtu Financial accounts for approximately 1.2% of 1834 Investment Advisors Co.’s investment portfolio, making the stock its 17th largest holding. 1834 Investment Advisors Co. owned approximately 0.21% of Virtu Financial worth $9,897,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VIRT. Principal Financial Group Inc. acquired a new position in Virtu Financial during the 2nd quarter valued at about $9,751,000. Bank of New York Mellon Corp raised its stake in Virtu Financial by 39.2% during the 2nd 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 buying an additional 342,327 shares during the period. Interval Partners LP bought a new stake in shares of Virtu Financial in the first quarter worth about $5,050,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Virtu Financial during the first quarter worth about $4,349,000. Finally, Public Sector Pension Investment Board bought a new stake in Virtu Financial in the 2nd quarter valued at $4,371,000. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Price Performance

Shares of VIRT stock opened at $31.81 on Wednesday. Virtu Financial, Inc. has a twelve month low of $16.02 and a twelve month high of $33.55. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The business has a fifty day simple moving average of $31.57 and a 200 day simple moving average of $27.09. The company has a market cap of $4.92 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.49 and a beta of 0.38.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results 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. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. During the same period in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 30.2% on a year-over-year basis. On average, sell-side analysts forecast that Virtu Financial, Inc. will post 2.7 EPS for the current fiscal year.

Virtu Financial Announces Dividend

The company 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Sunday, December 1st. Virtu Financial’s dividend payout ratio (DPR) is 48.24%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VIRT. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price target on shares of Virtu Financial in a research note on Thursday, October 24th. Citigroup increased their price objective on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America lowered their target price 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. The Goldman Sachs Group upped their price objective on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, Morgan Stanley raised their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.50.

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.