Bank of New York Mellon Corp Cuts Stake in Virtu Financial, Inc. $VIRT

Bank of New York Mellon Corp cut its stake in Virtu Financial, Inc. (NASDAQ:VIRT) by 4.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 732,356 shares of the financial services provider’s stock after selling 34,109 shares during the period. Bank of New York Mellon Corp’s holdings in Virtu Financial were worth $32,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of VIRT. Janney Montgomery Scott LLC increased its holdings in shares of Virtu Financial by 66.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 66,893 shares of the financial services provider’s stock worth $2,996,000 after buying an additional 26,756 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Virtu Financial during the second quarter valued at about $417,000. Amundi increased its stake in Virtu Financial by 117.6% during the first quarter. Amundi now owns 191,879 shares of the financial services provider’s stock worth $7,176,000 after acquiring an additional 103,714 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Virtu Financial by 123.6% in the 2nd quarter. QRG Capital Management Inc. now owns 51,959 shares of the financial services provider’s stock worth $2,327,000 after purchasing an additional 28,720 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Virtu Financial by 92.3% in the 1st quarter. Victory Capital Management Inc. now owns 107,761 shares of the financial services provider’s stock worth $4,108,000 after purchasing an additional 51,713 shares during the period. Institutional investors and hedge funds own 45.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VIRT shares. UBS Group reiterated a “neutral” rating and set a $45.00 target price (up previously from $40.00) on shares of Virtu Financial in a report on Monday, August 4th. Bank of America raised shares of Virtu Financial from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group cut their target price on Virtu Financial from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Virtu Financial presently has an average rating of “Hold” and an average price target of $41.71.

Virtu Financial Stock Performance

Virtu Financial stock opened at $35.57 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.49 and a quick ratio of 0.49. Virtu Financial, Inc. has a 12 month low of $31.89 and a 12 month high of $45.77. The company has a fifty day moving average price of $34.81 and a two-hundred day moving average price of $39.69. The company has a market cap of $5.44 billion, a PE ratio of 10.28, a P/E/G ratio of 1.14 and a beta of 0.60.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings results on Tuesday, March 12th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. Virtu Financial had a net margin of 10.43% and a return on equity of 32.08%. The company had revenue of $274.00 million for the quarter. Research analysts expect that Virtu Financial, Inc. will post 3.13 earnings per share for the current year.

Virtu Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. Virtu Financial’s dividend payout ratio (DPR) is currently 20.78%.

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.